April 2019 Financial Plan, Fiscal Year 2020

The FY20 Executive Budget is balanced, totaling $92.5 billion. This budget:

  • Achieves $916 million in savings over FY19 and FY20, exceeding the City’s original target of $750 million in order to meet over $150 million in additional critical needs identified since February. Of the $916 million in savings, $629 million were achieved through the Administration’s first ever Program to Eliminate the Gap (PEG), a mandatory savings program that includes agency efficiencies, programmatic cuts and a hiring freeze. The original target for the PEG was $545 million.

  • Maintains funding for more than $300 million in cuts and unfunded mandates from the State’s Executive Budget related to vital services and recently enacted State legislation.

  • Covers additional critical needs to keep the City in a strong fiscal standing and makes strategic investments in vital programs that build upon continued efforts to make New York City the fairest big city in America.

Read the Fiscal Year 2020 Executive Budget

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