New York City Council Response to the Fiscal Year 2023 Preliminary Budget
The City Council released its response to the Mayor’s Preliminary Budget for Fiscal Year 2023 on April 1, 2022.
Fiscal Year 2023 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 FY2023 must submit a Council Application. The FY2023 application will be posted on the Council’s website at this location on Monday, January 3, 2022 and the submission deadline will be on Tuesday, February 22, 2022.
Also, please note that if an application is not submitted within the filing period, the community-based organization will not be eligible for funding.
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
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.
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.