Working New Yorkers have told us that getting to their jobs eats up too much of their paychecks, so we are expanding our Fair Fares Program. Parents told us they need preschool hours that better match their workdays, so we added $15 million dollars in funding to convert nearly 1,900 early childhood education seats into extended-day seats starting this fall.

Thanks to careful budgeting and in partnership with the City Council, we have been able to restore a total of $36 million dollars in funding for our city’s libraries. That’s why this budget protects and builds on our historic investments: in summer youth jobs and career pathways for students, in public safety and trash pickup, in connecting New Yorkers in need to mental health services or stable housing, and in maintaining the commitment we made last year to fund affordable housing and NYCHA at historic levels. While we can’t predict with certainty which challenges tomorrow will bring, our near-record $8 billion in Fiscal Year 2024 reserves will help us ensure that New York City remains strong regardless of the issues we face.Įven as we prepare for the future however, we want New Yorkers to have the resources they need to thrive in the present. The Fiscal Year 2024 Adopted Budget comes in at approximately $107 billion and allows us to spend on services and programs that benefit all New Yorkers, while continuing to address the costs created by the asylum seeker crisis and adding to the $4.7 billion in budget savings that the administration has achieved over Fiscal Years 20 since last Adoption. This year, we navigated many significant financial challenges and have reached a budget agreement with our colleagues on the City Council-a budget that is smart, strategic and fiscally responsible, a budget that advances our administration’s Working People’s Agenda, and puts the needs of working New Yorkers front and center. Our city’s budget reflects our values, and for my administration, the needs of everyday people come first.

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