Table 1. CBC Adjustments to the City's Fiscal Year 2026 Preliminary Budget

dollars in millions

Note: Estimate of Asylum Seeker Overbudgeting assumes State does not appropriate the $1 billion the City budget forecasts in FY 2026 and FY 2027 and the $350 million the City budget forecasts in FY 2028 and FY 2029.
Source: CBC analysis of City of New York, Mayor's Office of Management and Budget, Fiscal Year 2026 Preliminary Budget: Departmental Estimates (January 16, 2025), Fiscal Year 2026 Preliminary Budget: Financial Plan Reconciliation (January 16, 2025), Fiscal Year 2026 Preliminary Budget: Financial Plan Detail (January 16, 2025); Council of the City of New York, Asylum Seekers Terms and Conditions Report (December 2024), State of New York, Division of the Budget, Fiscal Year 2026 Executive Budget: Financial Plan (January 22, 2025); Ana Champeny and Julia Nagle, Don’t Step off the Cliff: Fiscal Cliffs in New York City’s Fiscal Year 2025 Preliminary Budget (February 8, 2024), Office of the New York State Comptroller, Review of the Financial Plan of the City of New York (Report 21-2025, December 2024); and Office of the New York City Comptroller, Annual State of the City’s Economy and Finances (December 15, 2024).Get the data