Today CBC Vice President for Research Ana Champeny will deliver testimony to the New York City Council Committee on Finance and Committee on Oversight and Investigations on the $25 billion in federal COVID-19 relief funds, which focuses on two critical points about the use of this unprecedented level of federal aid:  

1. Due to a lack of a robust tracking system, which reflects the lack of a robust performance management system, we know very little about the impact of these funds. It is not sufficient to know how much was spent on what program; the public should know the benefits and outcomes of those investments; and
2. The City is using this this one-time aid to fund recurring programs, a fiscally imprudent strategy that has left the City with a fiscal cliff of at least $1 billion in fiscal year 2026, and potentially more if non-recurring service expansions are also expected to continue. The City should clearly state that these programs will end when the federal aid is depleted, or that they will continue and either widen the City’s budget gap or be supported with identified revenues or other program reductions.  

The Council is live now and can be viewed here: https://legistar.council.nyc.gov/Webcasts/Default.aspx?From=InSite&LocationID=1