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Inside Report (1)

Remember when New York teetered on the brink of bankruptcy?

Now Mayor Edward Koch and other city fathers are forecasting that the "Big Apple" will wind up the current fiscal year with a small budget surplus. The reason: increased tax revenues.

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But a nonprofit watchdog group says the city still faces a "service crisis," with consequences "perhaps more threatening than bankruptcy posed in 1975."

Just when Gov. Hugh Carey had hoped to hike state aid to the city's deteriorating transit system -- with Washington's cooperation -- some of President-elect Reagan's transition advisers have advocated slashing mass-transit subsidies to New York and other ci ties.