CITIZENS BUDGET COMMISSION INC

THE CITIZEN BUDGET COMMISSION, INC. ("CBC") IS A NONPARTISAN, NOT-FOR-PROFIT CIVIC ORGANIZATION DEVOTED TO INFLUENCING CONSTRUCTIVE CHANGE IN THE FINANCES AND SERVICES OF NEW YORK CITY (THE "CITY") AND NEW YORK STATE (THE "STATE") GOVERNMENTS. (CONTINUED SCHEDULE O)(CONTINUED FROM PAGE 2, PART III, LINE 1) CBC WAS FOUNDED IN 1932, A TIME OF GREAT FISCAL CRISIS, WHEN A GROUP OF CIVIC LEADERS FORMED A RESEARCH ORGANIZATION THAT WOULD ANALYZE THE CITY'S FINANCES, EVALUATE THE MANAGEMENT OF CITY GOVERNMENT, REPORT ON THESE MATTERSTO ITS MEMBERS, AND RECOMMEND IMPROVEMENTS TO MUNICIPAL OFFICIALS. IN 1985, CBC EXPANDED THIS ANALYSIS TO INCLUDE THE FISCAL AFFAIRS OF STATE GOVERNMENT. CBC'S PURSUIT OF ITS MISSION IS EMBODIED IN FOUR INTERRELATED ROLES: WATCHDOG, RESEARCH ORGANIZATION, MONITOR OF IMPLEMENTATION AND DISSEMINATOR OF INFORMATION. CBC IS FUNDED PRIMARILY BY CONTRIBUTIONS, SPECIAL EVENTS AND INVESTMENT INCOME.