The New York State Financial Control Board yesterday issued a stern warning to New York City officials as a budget dispute between the mayor and the city council entered court.

On Wednesday, the council asked the New York State Supreme Court in Manhattan to block Mayor Rudolph Giuliani's plan to close the fiscal 1995 budget gap in favor of the council's own plan.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

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