Mayor Bill de Blasio, City Council Speaker Corey Johnson, Council Finance Chair Daniel Dromm and members of the City Council announced an agreement for an on-time and balanced City budget for Fiscal Year 2020.
April 2020 Executive Budget, Fiscal Year 2021
Mayor Bill de Blasio released New York City’s Executive Budget for Fiscal Year 2021 (FY21). In these most adverse circumstances, the City must take significant action to preserve our ability to continue to fund life-saving measures. This Administration is committed to doing whatever it takes to keep New Yorkers protected.
The budget, which addresses serious revenue shortfalls, prioritizes protecting health, safety, shelter and access to food for all New Yorkers.
“Our top priorities are simple: we will keep people safe, protect their health, make sure there is a roof over their head and that food is on their table,” said Mayor Bill de Blasio. “There is no cost too great to keeping New Yorkers protected, but Washington must also step up. New Yorkers deserve nothing less than the full support of our federal government in this time of crisis.”
The FY21 Executive Budget
The $89.3 billion Executive Budget is balanced and was crafted in light of immense fiscal hardship. Facing a $7.4 billion tax revenue hit across FY20 and FY21, the Administration achieved an unprecedented level of savings and took down reserves. These actions reduced the budget by $3.4 billion, or 3.7%, compared to the FY20 Budget that was adopted in June 2019.