In its official response to Mayor Eric Adams’ Fiscal Year 2024 preliminary budget, the City Council seeks to restore $194 million in across-the-board cuts to city agencies, proposed in the mayor’s spending plan, by utilizing $2.7 billion more in projected revenue for the city than what was forecast by the mayor’s office.
The $2.7 billion in supplemental available funds the council identified is derived from $5.2 billion more in projected tax revenue than what the mayor’s Office of Management and Budget (OMB) predicted will come into the city’s coffers over the current and next fiscal years.
