Navigating the NYC budget away from the cliff edgeNovember 12, 2023
State Comptroller Tom DiNapoli warns NYC of $14 billion budget caps for the 2024-2025 fiscal year. He urges the city to control costs to avoid impacting service delivery for New Yorkers. DiNapoli’s analysis dispels the notion that migrants are solely responsible for the city’s financial challenges. Discussions of budget risks and spending decisions predate the migrant influx. NYCHA’s longstanding issues and poor rent collections contribute to the funding problems. The COVID pandemic and migrant arrivals worsen existing challenges at Health + Hospitals. The NYPD and Department of Correction face management and policy issues. Positive restructuring examples and unfunded mandates impact progress. Aggressively pursuing unpaid NYCHA rent and reducing migrant housing costs are possible solutions. These challenges require sustained focus and a desire to take responsibility.