Mayor Eric Adams and City Council Speaker Adrienne Adams announced last week their $107 billion adopted budget agreement for fiscal year 2024 (FY24). The council voted to pass the budget.
The city said there was higher than expected revenue of $2.1 billion in FY23, driven by continued strength in the local economy—although tax revenue growth is still expected to slow in coming years. These additional resources were used to pay for agency needs, meet increased asylum seeker costs, and fund council discretionary spending. The adopted budget maintains $8 billion in city reserves.
“When money is tight, decisions must be made,” said Councilmember Justin Brannan, chair of the council’s Committee on Finance. “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.
Aviles and other advocates were angered by the police portion of the city budget. Darian X, lead campaign organizer at the Brooklyn Movement Center, said in a statement that cuts to critical resources like housing, public education, and mental healthcare is a “death sentence to the residents of our communities who rely on those critical services.”
“This budget is not good, and it is not just,” said HSC Executive Director Michelle Jackson. “Almost two-thirds of our workforce lives near poverty, and this agreement will not fundamentally change that—even though the mayor found plenty of money to give generous raises to other workers.”
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