New York City Department of Finance, Office of Tax Policy, reviews, analyzes, and evaluates existing and proposed policies and legislation that affects the Department of Finance and the City. This includes analyzing the revenue and distributional impacts of proposed changes to the tax system; monitoring and reporting on City tax and parking revenues; working with local- and state-level public agencies and private sector interests in promoting improved tax administration; and advising the Commissioner, Executive Office, and the City’s Office of Management and Budget on City revenue and budget issues. Tax Policy also prepares briefing / position papers on tax policy and issues a variety of public reports and newsletters on tax-related issues.

The ability to raise money, or capital, is essential not only for starting, but also for maintaining and expanding a healthy business. No matter how good your concept or your business plan, it will fall flat without the proper financing, the lifeblood of any enterprise.

Before you begin your search for capital, you will need to know how much money your business will require. To get an accurate answer you should consider not only the costs of starting, but also the costs of staying in business. Many businesses take a year or two to get up and running. This means you will need enough funds to cover the cost of materials, salaries, rent, supplies and other items until sales can meet these costs. Your comprehensive business plan should help you determine how much capital you need.

It is common for many new business owners to furnish a substantial amount of capital - from 20 to 50 percent - from their own resources. Besides tapping into your own funds, you may also consider approaching family and friends. Other sources include retirement income, the income of a spouse, your income from a part-time or full-time job, investment by partners and incorporations and sale of stock.

For more than 200 years, many of America’s most demanding individuals and families have looked to The Bank of New York for customized finance and banking services to meet their diverse financial needs. Offering an exceptional level of service and a comprehensive array of banking, lending, investment, trust and insurance services, The Bank of New York can help you leverage our global resources to meet all of your banking needs promptly, efficiently and confidentially.

The Public Information Department of the Federal Reserve Bank of New York will host a two-day workshop on personal finance. This professional development program will promote improved understanding of the personal finance-related topics and concepts high school economics, personal finance, business and career and technical education techers need to master.

The first day of the workshop will highlight the structure and workings of a financial system; financial concepts related to banking, credit, and taxes; and the principles of investing. Discussions about how best to teach about each topic covered will comprise key aspects of the workshop.

On the recommendation of past participants and focus groups, the second day of the workshop will concentrate on best practices in the teaching of personal finance. Speakers also will discuss the psychology of money and ways to motivate young persons to manage their finances wisely.

Curriculum packages and instructional materials will be available for distribution. Teachers experienced in the instruction of personal finance topics will be on hand to discuss classroom applications and techniques.

Participants are eligible for New York City, New York State, and New Jersey staff development credits.