QUESTION
How are funding reductions for older adult centers determined, and what plan does the agency have to manage these savings?
0:47:11
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120 sec
Commissioner Lorraine Cortes-Vasquez explains that funding reductions are determined through regular reviews and negotiations with the Office of Management and Budget (OMB) to address the most pressing needs and growth patterns of older adult centers.
- Funding reductions known as "peg" amounts are identified through regular reviews.
- Discussions with OMB aim to align on the growing needs and patterns of older adult centers.
- The process involves presenting the dynamics of growth to OMB for support and cooperation.
- Ongoing negotiations with OMB are contingent on the city's financial situation improving.
Crystal Hudson
0:47:11
The November plan included $13,500,000 peg for older adult centers in fiscal 2027.
0:47:19
The preliminary plan includes an additional peg for OACs of 18,900,000 in fiscal 2024 and 2,200,000 in fiscal old 25 to 28.
0:47:29
Older adult centers are a vital resource and lifeline for many of our city's older residents, and we're concerned about the impact of funding reduction on these programs, especially given that the population of older New Yorkers is rising.
0:47:41
The city's population of older adults, which currently represent 20% of our entire population will grow as the baby boomer generation ages.
0:47:49
A 2021 CUNY Graduate Center study reports that population of adults ages 65 and older in New York state will soar 25% between 2021 2040 compared to just 3% growth in the general population.
0:48:04
And here in the city alone, the number of older adults is expected to jump 40% by 2040 especially as the speaker mentioned, people are living longer.
0:48:12
How were these pegs peg amounts determined, and how does the agency plan to achieve these savings?
Lorraine Cortes-Vasquez
0:48:19
What I can say to that at this point is With the kind of review that we do on a regular basis, we could identify what are gonna be the most pressing needs.
0:48:33
We're talking about 2027.
0:48:37
What can be done at that what we do through that whole process is start looking at what the what the demands are.
0:48:44
And negotiate with our partners at OMB to make sure that they are also aware of what the growing needs are.
0:48:51
We've gotten good support and cooperation from them when we've presented to them our needs and the growth patterns.
0:48:59
So I would assume that the city's financial situation.
0:49:04
As it improves, those negotiations are ongoing, and that we can also show what the those patterns of growth will be.
Crystal Hudson
0:49:11
Okay.