State Comptroller DiNapoli Statement on New York City Budget

New York State Comptroller Thomas P. DiNapoli released a statement today in response to Mayor Mamdani's statement on New York City's budget. In December, DiNapoli released a budget analysis that estimated that out-year gaps were understated.

"Today's statement on the budget by New York City Mayor Mamdani begins the difficult process of more transparently identifying expenses that aren't fully addressed and closing a budget gap of nearly $10 billion that it faces beginning in City Fiscal Year (CFY) 2027. For years, my office has identified budget risks associated with spending on social services, education, overtime and Metropolitan Transportation Authority subsidies that add billions to the city's stated budget gaps. I commend the mayor for taking the much needed step of publicly recognizing those challenges prior to the start of the fiscal year and expect the city will include the full scope of these expenses in its Preliminary Budget for CFY 2027 next month.

"As the federal and state budgets come into greater clarity in the coming months, the city should lay bare the potential risks of the decisions made by these funding partners as well. It should prepare for a more turbulent fiscal period by laying out potential scenarios to the public and elected officials, identifying potential cost efficiencies and setting aside revenue that is not necessary to cover expenses this year.

"The unpredictability of Washington at this time demands the city take nothing for granted."