CBC is a nonpartisan, nonprofit organization pursuing constructive change in the finances and services of New York City and State. The main adjustments that contribute to the increase are the use of $1.6 billion in resources from the RHBT plus a prepayment of $4.2 billion in fiscal year 2021 expenses in fiscal year 2020. As presented, when compared to the Preliminary Budget, the Executive Budget is $6.0 billion lower in fiscal year 2021. Over the two years, from fiscal year 2019 to fiscal year 2021, the total budget grows 2.5 percent. Once adjusted, the Executive Budget for fiscal year 2021 proves to be only $1.8 billion lower. De Blasio on Tuesday detailed an $88.1 billion 2021 budget for the city that, by his admission, includes deep cuts to city agencies. City University of New York Budget Note (PDF) Civilian Complaint Review Board Budget Note (PDF) Civilian Complaint Review Board Fact Sheet (PDF) ... Economic and Revenue Forecast for the Fiscal 2021 Preliminary Budget (PDF) Economic and Revenue Overview Fact Sheet (PDF) Fiscal 2020 Preliminary Capital Budget and Commitment Plan Overview (PDF) For City funds, when compared to the Preliminary Budget, Executive Budget spending is $1.1 billion lower in fiscal year 2020 and $1.5 billion lower in fiscal year 2021. Many critics — including Public Advocate Jumaane Williams, who lobbed a last-minute threat to scuttle the budget altogether — looked at de Blasio's and the City Council's planned NYPD budget cuts called them illusory.

The City’s fiscal monitors routinely adjust spending to reflect actual trends in spending. The FY2021 Enacted Budget does that, and advances the Governor's Making Progress Happen agenda. The total budget, which includes federal funds, is projected to increase 6.3 percent this year, followed by a 3.6 percent decline in fiscal year 2021. The adjusted City funds budget is $69.9 billion in fiscal year 2020, a 2.3 percent increase over fiscal year 2019, and is forecast to reach $70.9 billion in …

Read the Fiscal Year 2021 Executive Budget Publications November 2019 Financial Plan, Fiscal Years 2020-2023 Despite the significant projected shortfall in tax revenue, using $4.0 billion in reserves and Retirement Health Benefit Trust Fund (RHBT) resources makes this possible. The redistribution in question will shift about $430 million from the NYPD toward summer youth programs, education and family and social services, de Blasio said.

Albany, NY 12207

The City Council is scheduled to vote on the budget Tuesday afternoon.

In fiscal year 2021 the all funds budget decreases as non-City funds decline by $4.4 billion in fiscal year 2021, reflecting the absence of the expected one-time increase in federal aid in fiscal year 2020 as well as State aid cuts implemented in the Enacted Fiscal Year 2021 New York State Budget. The adjustments reveal that the critically important component that is spending supported by City funds, which includes tax, fee, and fine revenue, is projected to grow 2.3 percent this year and 1.3 percent in fiscal year 2021. The situation in fiscal year 2021 is precarious—State aid could be cut during the year, federal aid may be lower and less flexible than expected, and tax revenues could be below expectations. The total budget reflects not just City actions and resources, but also federal and State funding levels. But the coronavirus crisis isn't the only challenge. De Blasio claimed the cuts represent real reform in terms of NYPD's responsibilities and would shift funds toward youth programs. Change from the Preliminary to Executive Budget. He said it also cancels the NYPD's July class, meaning 1,163 new officers won't join the department's ranks — a much more effective reduction in force than a hiring freeze instituted on all other city departments, he claimed. Despite an expectation that tax revenues will rebound and increase by 7.4 percent in fiscal year 2022, the City forecasts a budget gap of $5.0 billion.

The Fiscal Year 2021 Executive Expense Budget is $89.3 billion. The budget that was adopted amid the economic fallout from the COVID-19 pandemic is $7.1 billion less than the Preliminary FY 2021 Budget released in January, prior to the COVID-19 outbreak in the City. Furthermore, the City will need to address significant outyear gaps and with fewer reserves. The FY 2021 Budget in the April Financial Plan totals $89.33 billion, a decrease of $5.97 billion from the January Plan.

De Blasio on Tuesday detailed an $88.1 billion 2021 budget for the city that, by his admission, includes deep cuts to city agencies. NEW YORK, NEW YORK — A once-in-a-century pandemic and a historic movement for police reform presented dual challenges for New York City's upcoming budget — and by Mayor Bill de Blasio's reckoning the city will meet them, albeit with some deep pain. In fiscal year 2021 the adjustment is much larger and increases spending by $5.0 billion to $94.3 billion. While reserves have allowed the City to cover the shortfall this year and next, a significant fiscal challenge looms for fiscal year 2022.

While Table 1 reflected the change across fiscal years, Table 2 shows the change between the Preliminary and Executive Budgets. Shortly after midnight on July 1, 2020, the City Council voted to adopt an FY 2021 budget of $88.19 billion. ON CITY COUNCIL'S APPROVAL OF THE NYC 2021 BUDGET Mayor Bill de Blasio’s 2021 budget deal simply returns spending to 2018 levels and payroll to 2019, even as the city faces its deepest economic downturn since the Great Depression. The reliance on non-recurring federal aid, reserves, and Retiree Health Benefits Trust fund resources to support recurring spending contributes to the significant $5 billion fiscal year 2022 gap that ultimately will have to be addressed. How public funds are distributed affects our city's operations, services, construction, and so much more. Total adjustments in fiscal year 2020 increase spending by $374 million to $97.8 billion, an increase of 6.3 percent over fiscal year 2019.

An important measure to understand trends in what the City economy supports over time is the adjusted City funds budget, which removes State, federal, and other categorical aid. Other "savings" from the NYPD will come from overtime reductions and reductions in contracts and non-personnel costs, de Blasio said. The reality is that New York City is still in a serious fiscal crisis even after its coronavirus-fueled budget cuts. Mayor Bill de Blasio released New York City’s Executive Budget for Fiscal Year 2021 (FY21). A police reform movement that rose after the killing of George Floyd put pressure on and exacted promises from city officials — de Blasio included — that they would shift at least $1 billion from the NYPD to long-underfunded parts of the city. This is the result of the City’s expectation to receive significant federal aid during fiscal year 2020. "It's a lot of redistribution but it's done in a way that's safe for this city," he said.

240 West 35th Street, Suite 302

"In many ways, the toughest budget challenge this city has seen in a long, long time," he said. With just $100 million in the general reserve to hedge against those risks, additional spending cuts may be needed. The budget is balanced, includes no new taxes, continues to phase in tax cuts for the middle class, enacts the strongest Paid Sick Leave program in the nation, and advances other progressive priorities including the legalization of gestational surrogacy. Another $537 million in NYPD capital funding will instead go toward NYCHA, broadband for NYCHA housing and Parks youth centers, he said.

Gaps in fiscal years 2023 and 2024 are $4.5 billion and $4.9 billion, respectively. Are you 65+ and want to become more physically active remotely. However, clear understanding of the trajectory of the budget requires adjustments for the timing of spending, the use of reserves, and assumed federal aid.