The budget overseen by the mayor's office is the largest municipal budget in the United States at $50 billion a year. The city employs 250,000 people, spends about $15 billion to educate more than 1.1 million students, levies $27 billion in taxes, and receives $14 billion from the state and federal governments.
The mayor's office is located in New York City Hall; it has jurisdiction over all five boroughs of New York City: Manhattan, Brooklyn, the Bronx, Queens, and Staten Island. The mayor appoints a large number of officials, including commissioners who head city departments, and his or her deputy mayors. According to current law, the mayor is limited to three consecutive four-year terms in office, which was previously limited to two terms. It was changed from two to three terms on October 23, 2008, when the New York City Council voted 29-22 in favor of passing the term limit extension into law.