Mayor Zohran Mamdani and City Comptroller Mark Levine urged New York City’s Charter Revision Commission on Government Efficiency (COGE) on Wednesday to seriously consider amending the City Charter to create a formal funding structure for the city’s rainy day fund.
The joint statement came as Levine submitted testimony to the commission calling for clearer rules around the Revenue Stabilization Fund, the formal name for the rainy day fund, including a target balance, formula-driven deposits, withdrawal guardrails, and regular public reporting.
