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FY25 Preliminary Budget Response (PDF)

The New York City Council presents its response to the Mayor’s Fiscal Year 2025 Preliminary Budget and
the Fiscal Year 2024 Preliminary Mayor’s Management Report. The Council’s response balances the need
to place the City on a stronger foundation to address its major challenges, save key program funding, and
prepare for economic uncertainties and risks.

Read the Council’s FY25 Preliminary Budget Response.

2024 State Budget Priorities (PDF)

The New York City Council presents the following budget priorities for the State Fiscal Year 2025 Budget to help ensure New York City receives the equitable and necessary support for its health, safety, and success.

Read the Council’s 2024 State Budget Priorities.

February 2024 Economic and Tax Revenue Forecast (PDF)

Read the Council’s February 2024 Economic and Tax Revenue Forecast, prepared by the Revenue & Economics Unit.

Fiscal Year 2025 Discretionary Funding Expense Application Filing Period

Please be advised that all not-for-profit community-based organizations that wish to apply for discretionary funding for FY2025 must submit a Council Application. The FY2025 application will be posted on the Council’s website at this location on Thursday, January 4, 2024 and the submission deadline will be on Tuesday, February 20, 2024.

Apply for FY2025 Discretionary Funding
Access Submitted and In-Progress Applications

Also, please note that if an application is not submitted within the filing period, the community-based organization will not be eligible for funding.

Click here to watch the Fiscal Year 2025 Discretionary Budget Training Video.

For any issues or questions regarding the FY 2025 application, please contact

FY2025 Capital Funding for Non-City Organizations

Non-City organizations applying for Fiscal Year 2025 capital funding may now download and submit applications at the CapGrants portal. All groups should submit their completed applications through this portal.

  • Groups designated All Other, Charter School, or Housing organizations, may view and download their applications on the CapGrants page. If your group represents a non-DOE school or community-based organization, please use the form.
  • Cultural organizations may view and download their applications via the Department of Cultural Affairs Capital Funding page. Your group should still submit completed applications through the CapGrants portal.

Application deadlines vary depending on the source of the funding your group has requested.

  • Thursday, February 22, 2024, 5:00pm: applies if your project requests any funding from Borough Presidents (including those groups that are also requesting funding from the Council or Department of Cultural Affairs)
  • Thursday, March 21, 2024, 5:00pm: applies if your project is only requesting funding from the Council and/or the Department of Cultural Affairs

How the budget works

The Expense Budget covers the costs of running our city. It pays for the sanitation worker who picks up your garbage, and powers the lights at your local library. Funds are set aside to operate each city agency. This also includes the Debt Service, the City’s annual loan payment for long‑term Capital Projects for which the City borrows State & Federal money.
The Capital Budget covers larger long‑term investments in facilities & infrastructure, or Capital Projects. Examples include the construction of public schools, street maintenance, and parks improvements.
The Revenue Budget outlines money expected from taxes, State & Federal aid, and other sources of revenue. It determines the maximum amount in the Expense Budget, as the City is required to have a balanced budget.

The Budget Process

Finance Committee

The Council’s Finance Committee plays an important role in the budget negotiating process by advocating for the needs of New Yorkers and overseeing the hearing process. The current Chair of the Finance Committee is Council Member Justin Brannan.

Finance Division

The Council’s Finance Division is a team of analysts, attorneys, economists, and administrative staff who provide Council Members with research on budgetary actions and their fiscal impact. They also work with Council Members to monitor and evaluate agency spending.

Curious about how the budget is approved? When does the process begin? What’s the role of the Council and the Mayor? Learn about the budget process.