GAAP

Mayor Ed Koch ✝

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Mayor Ed Koch ✝

American lawyer, politician

Ed Koch is the former Mayor of New York City. During his three terms as Mayor from 1978-1989, he was responsible for placing the City on a GAAP (Generally Accepted Accounting Practices) balanced budget basis. He created a housing program which, over a ten-year period, provided more than 150,000 units of affordable housing financed by City funds in the amount of $5.1 billion.

Koch was drafted into the Army where he served with the 104th Infantry Division. He served in the European Theater of Operations, received two battle stars, the Combat Infantry badge, and he was honorably discharged with the rank of Sergeant in 1946. Prior to being Mayor, Koch served for nine years as a Congressman and two years as a member of the New York City Council. He has also written many books on his life and experience.

Koch died of heart failure on February 1, 2013, at 89.

He was hosted by The Common Good in 2010: Ed Koch on the Reform of New York's Government.