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June 29, 2023
The on-time $107 billion budget ensures investments in essential City services, health and safety, education, and quality of life
City Hall, NY – Speaker Adrienne Adams, Finance Committee Chair Justin Brannan, and Council Members joined Mayor Eric Adams to announce an agreement on a $107 billion budget for Fiscal Year (FY) 2024. The FY 2024 budget outlines the Council’s commitment to protect New Yorkers from many interruptions and cuts to essential services needed to keep the City safe, healthy, and successful. Despite multiple crises facing the City, the Council and the Administration were able to deliver an on-time budget that preserves many critical programs and makes some key investments.
“The Council’s focus in this budget has been to protect the essential services that the people of this city rely on to be healthy, safe, and successful,” said Speaker Adrienne Adams. “We took seriously our task to negotiate the best possible outcomes and deliver results for the people of our city. Through difficult negotiations, the Council worked to bridge the distance between us and the Administration, fighting to restore investments in essential services and funding many programs that we know our families, communities, and city need. Though we have come to a budget agreement today, the Council knows we must continue to push forward in our year-long budgetary, legislative, and oversight efforts to secure the investments that New Yorkers deserve.”
“The Council entered into budget negotiations this year with eyes wide open to the challenges on the horizon and at our doorstep,” said Council Member Justin Brannan, Chair of the Council’s Committee on Finance. “We have never doubted the durability of our city’s economy but we also recognize that resilience doesn’t happen on its own – it requires thoughtful, targeted investments. When money is tight, decisions must be made. Our negotiations were no different from the often tough conversations working families have around their dining room table as they try to make ends meet for another month in the most expensive city in the world. But even with an uncertain fiscal future and a migrant influx everyone agrees New York City cannot handle on our own, with a nearly $107 billion budget, we knew there was still no reason for cuts with a scythe. Instead, we fought for thoughtful, surgical investments and focused our priorities where they mattered most.
Council Member Brannan continued, “This Council fought and won critical investments and restorations for our community schools, our libraries, and our seniors. We reversed cuts to NYCHA, secured funds for expanded 3K programs, and bolstered citywide mental health initiatives. We fought to safeguard funding for our cultural institutions and expanded Fair Fares so less New Yorkers will need to choose between a meal and a MetroCard. We secured funding for arts and music education in our public schools and more trash pick-ups to keep our streets clean. I say it often: a budget is more than just an itemized list of expenditures. It is a values document. You can tell me what you care about but prove it to me by showing me what you spend your money on especially when times are tough and money is tight. It all comes down to priorities and from the start of these negotiations this Council was laser focused on protecting what New Yorkers need to recover, succeed, and be healthy and safe. New Yorkers don’t run and hide, we stand and fight. This city’s best days are ahead of us – I would never bet against New York City.”
“After months of pain staking negotiations, long nights, and competing priorities; we’ve finally reached a budget agreement that puts the needs of New Yorkers front and center,” said Deputy Speaker Diana Ayala. “As we continue to recover from the financial impacts of the pandemic, the City Council understands we must take into consideration the impact to families with increases in food, transportation, housing, and services that are essential to New Yorkers and the economic viability of our city. From the very beginning, we have worked to craft a budget that is intentional and laser focused on investments that benefit our city economically, culturally, and thoughtfully.
Deputy Speaker Ayala continued, “Throughout the process, we pushed back against unreasonable cuts to our public library system and cultural institutions – staples of our city that are highlighted for their accessibility. We fought for and restored cuts to NYCHA’s Vacant Unit Readiness Program to expedite the availability of vacant apartments. We restored cuts made to the nutritious meals program that provides older adults with a consistent healthy meal at their senior center or delivered right to their front door. Our non-profit workers who we relied on throughout the pandemic and throughout the migrant crisis to provide services will receive a Cost of Living adjustment; and our legal service providers will see the City increase funding for our Right to Counsel program that so many New Yorkers rely on. The $107 billion dollar budget for Fiscal Year 2024 will invest in critical services to support low and moderate income New Yorkers; it recognizes the hardship our communities have faced with increased costs ranging from food to transportation. Every budget we put together is a compromise that takes into consideration each of our respective institutions vison for what we recognize as the issues most important to our constituents. This budget may not be perfect, but it’ll have positive impacts on our city and our people, which is more than enough.”
“The City Council secured a budget that supports libraries and cultural institutions, assists tenants, and prevents drastic cuts to crucial services,” said Majority Leader Keith Powers. “We fought for the best possible budget and I am proud of what we achieved. Thank you to Speaker Adams and Finance Chair Justin Brannan for leading months of negotiations and getting us to this milestone.”
“Today’s deal is the result of months of steadfast advocacy by the Council to protect the City’s ability to deliver essential services,” said Majority Whip Selvena N. Brooks-Powers. “While the budget does not include every line item we sought, the Council fought successfully for restoration of funding that New Yorkers rely on every day, including for our libraries and schools. It also includes an expansion of the Fair Fares program – adding $20 million in baseline funding – and secures $4 billion annually toward affordable housing, as well as $32 million that will assist in renovations of vacant NYCHA units amid a citywide housing crisis. More work lies ahead, but I am proud of the work of this Council to get us to this point, and I thank the Speaker for her strong leadership and unwavering commitment to the people of New York.”
The $107 billion FY 24 budget agreement includes a full restoration of the proposed cuts to the City’s library systems and restores funding for education programs for New Yorkers of all ages, from early childhood education to higher education. It also includes expanded access to the Fair Fares program, increased baseline funding for legal services to prevent New Yorkers from eviction and other challenges, restoration of meal programs for older adults, baselined funding toward wage increases for contracted human service employees, additional investments in violence prevention programs, and restoration of funding litter baskets in neighborhoods.
The Council and Administration were also able to secure a balanced FY 24 budget through a strong economy and higher revenue projections as outlined in the Council’s Executive Budget forecast. With more challenging years ahead and slow economic growth expected, the Council emphasized they will remain focused on ensuring government services continue while also maintaining fiscal responsibility.
Highlights of the FY 24 budget include:
Ensuring Delivery of Essential Services
Building Stronger Neighborhoods and Opportunities
Safeguarding Education and Learning Opportunities
Improving Community Health and Safety
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