“This is a critical moment. Our city’s future and continued economic recovery hinges on how we invest in New Yorkers and the essential services they rely on to succeed. It is an undeniable reality that our city agencies responsible for delivering services to New Yorkers are struggling to fulfill their obligations due to chronic understaffing and inadequate support. This only undermines our recovery and the stability of our neighborhoods as New Yorkers struggle to remain in an increasingly unaffordable city.

“The Council advanced a balanced, responsible budget proposal that accounts for the various potential budgetary risks and economic challenges, while making smart investments in key services that New Yorkers need to succeed. The Executive Budget recognizes that the Council’s projection of an additional $5.2 billion in the budget was far from ‘overly optimistic,’ but rather quite accurate, and the City has significantly prepared for uncertainty with historic reserves of approximately $8 billion.

“Despite adjustments to their most recently proposed PEG, the Mayor’s Fiscal Year 2024 Executive Budget still includes PEGs totaling $1.6 billion and maintains all other previously enacted and proposed PEGs totaling over $4 billion in Fiscal Year 2023 and 2024. The Executive Budget still leaves our libraries facing significant service cuts, agencies that deliver essential services harmed, and programs that deliver solutions to the city’s most pressing challenges without the investments needed. Ultimately, New York City needs a responsible budget that effectively and efficiently prepares us for success by meeting the needs of New Yorkers and protecting against future risks. That is the city budget that this Council will continue working to deliver, so we prioritize investments into the people of our city. There is significant work ahead to achieve that goal, and we will continue our negotiations with the Administration and work with all stakeholders to succeed.”