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This lasted until 1871, when the Board of Estimate and Apportionment was established and charged with the duty of apportioning the revenue resulting from tax assessments on property valuation.

All of these agencies were abolished in 1918 and the Board of Estimate and Apportionment's examiners, who were transferred to the secretary's office at that time, later became the nucleus of the Bureau of the Budget.

In 1924, the position of Director of Budget was created as part of the Mayor's Office by the Board of Estimate and Apportionment.

[8] The Budget Director also serves ex officio on various boards, including the New York City Municipal Water Authority, which issues bonds for the capital plan of the NYC Department of Environmental Protection,[9] the New York City Transitional Finance Authority, and TSASC, Inc., a local development corporation whose debt is secured by tobacco settlement revenues.