Your guide to NYC's public proceedings.
QUESTION
How are fiscal 2024 payments allocated, and why is the city subsidizing Health and Hospitals' budget?
0:18:47
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96 sec
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John Ulberg explains that the indirect rate covers administrative costs and any unused funds are either returned to the city or used for the program.
- Indirect rates are intended to cover administrative costs.
- Unused funds are returned to the city or used for the program.
- The indirect rate is a common grant funding mechanism to manage staff and overhead costs.
- NYC Health and Hospitals appreciates the committee's effort in understanding their financial operations.