Page 16 - The Indian EYE 030124

North The Indian Eye

AMERICANNewsline

16 MARCH 01, 2024

Mayor Adams Announces Cancellation of

Next Round of Agency Spending Cuts as a

result of Strong Fiscal Management

City to Implement Additional 10 Percent Savings

on Budgeted City-Funded Asylum Seeker Costs in FY25 Executive Budget

OUR BUREAU seeker PEG savings — a 20 percent
cut — achieved over FY24 and FY25
New York, NY
by helping put migrants on a path to
ew York City Mayor Eric Ad- self-sufficiency with intensified case
ams today announced the management and reducing the house-
Ncancellation of the Fiscal Year hold per-diem costs of providing care.
(FY) 2025 Executive Budget Program These actions helped balance
to Eliminate the Gap (PEG) for city the FY25 Preliminary Budget and
agencies — a direct result of deci- stabilize the city’s financial position
sive actions early on by the Adams without layoffs, tax hikes, or major
administration to stabilize the bud- disruptions to city services — and
get through continued strong fiscal their success, along with another 10
management, better-than-expected percent in migrant spending cuts
economic performance in 2023 that and better-than-expected tax rev-
resulted in an upward revision to the enue growth, have allowed the ad-
city’s tax revenue forecast, and addi- ministration to restore funding for
tional cuts to asylum seeker spend- lic safety, rebuild our economy, and in providing New Yorkers with addi- savings initiatives that are mayoral
ing. The Adams administration is make our city more livable for ev- tional support. But this new chapter priorities related to public safety,
more specifically cutting an addition- eryday New Yorkers. After two years is the result of a full collaboration quality of life, and young people, as
al 10 percent in budgeted city-fund- of hard work, we are heading in the across city government, our nonprof- well as fully cancel the FY25 Execu-
ed asylum seeker costs on top of the right direction: Jobs are up, crime it partners, and so many others, and tive Budget agency PEG.
successful 20 percent asylum seeker is down, tourists are back, and we will allow us to continue to deliver on New York City has continued to
PEG in the Preliminary Budget that are delivering for working-class New our mission for a safer, cleaner, more effectively manage the asylum seek-
already saved more than $1.7 billion Yorkers every day,” said Mayor Ad- prosperous New York City for all.” er humanitarian crisis largely on its
in city spending, while continuing ams. “And despite facing a perfect Last summer, the city faced a own without substantial aid. To date,
intensive case work for migrants to fiscal storm that included a multi-bil- multi-billion budget gap due to the New York City has provided care for
help them on their path to self-suf- lion-dollar budget gap driven by an growing asylum seeker crisis, drying more than 178,600 asylum seekers,
ficiency. In addition to cancelling asylum seeker crisis, the sunsetting of up federal COVID-19 stimulus fund- with approximately 65,000 currently
the city agency PEGs, the admin- COVID-19 federal stimulus funding, ing, expenses from labor contracts still in the city’s care. The city has
istration is moving from a near full and the cost of inherited outstanding this administration inherited that also provided case management, shel-
hiring freeze to a 2-for-1 model and labor costs, our administration was went unresolved for years, and slow- ter, food, and more to asylum seekers;
easing other than personal spending able to successfully make the strong ing tax revenue growth. To manage stood up navigation centers with sup-
(OTPS) freeze restrictions. fiscal decisions to navigate us to pros- these concerns, the administration port from community-based organi-
The announcement comes just perity. The combination of our tough, implemented PEG savings programs zations to connect new arrivals with
one day after internationally rec- but necessary financial management and a near total freeze on hiring and critical resources; and enrolled tens
ognized, independent credit rating decisions, including cutting asylum other than personnel spending in the of thousands of school-aged children
agency Moody’s Investors Service seeker spending by billions of dol- November Financial Plan, as well to public schools through Project
affirmed New York City’s Aa2 issuer lars, along with better-than-expected as in the Preliminary and Executive Open Arms. As a result of the admin-
rating and praised the Adams ad- economic performance in 2023, is al- Budgets. But, as a direct result of the istration’s responsible policies — in-
ministration for its “robust financial lowing us to cancel the last round of Adams administration’s proactive fis- cluding providing 30 to 60 days of in-
management” and the successful spending cuts, as well as lift the near cal management and decisive action, tensified case management — more
“implementation of budget measures total freezes on city hiring and other the administration achieved a record than 60 percent of the asylum seekers
to help close budget gaps…caused by than personal spending. Make no $6.6 billion in PEG savings over FY24 who have come through the city’s in-
the migrant crisis.” mistake — we are not yet out of the and FY25 in the November Financial take center have left the city’s care
“Our administration came into woods, as we still need Albany and Plan and the Preliminary Budget. and are taking the next steps in their
office with a mission to protect pub- Washington, D.C. to play their roles This included $1.7 billion in asylum journeys towards self-sufficiency.

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