The New York State Financial Control Board voted in its annual review yesterday that New York City has met the criteria needed to avoid a takeover by the board in fiscal 1992.

Allen J. Proctor, the control board's executive director, announced the news at the organization's meeting at the World Trade Center in lower Manhattan.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.