Statement City Budget

Statement on FY16 Adopted Budget for New York City

June 22, 2015

New York, NY - The FY 16 adopted budget announced by the Mayor and the Council this evening adds approximately $200 million in spending for additional police, social service providers and other programs. Although there is additional revenue available to fund these costs in the coming fiscal year, the agreed upon additions are an added risk to the City's fiscal health in future years, when budget gaps are already projected and when an inevitable economic downturn will erode the revenue required to pay for recurring expenses.