citymeetings.nyc

Your guide to NYC's public proceedings.

QUESTION

Why did the Cultural Development Fund (CDF) receive $23.5 million and the CIGs receive $16.5 million from the additional $40 million in DCLA's FY 2024 budget?

2:40:03

·

120 sec

Video Player is loading.

Current TimeÂ 0:00

DurationÂ 5:32:51

Loaded: 0%

Stream TypeÂ LIVE

Remaining TimeÂ 5:32:51

Â

Commissioner Laurie Cumbo explains the criteria used to determine the funding split between the CDF and Sigs in DCLA's FY 2024 budget.

There is a baseline amount of funding that must go to the cultural institution groups (CIGs) each year to cover operating costs like security, utilities, etc.
The decision on how much goes to the CIGs is largely based on the baseline funding needed to oversee city-owned properties that DCLA is fiscally responsible for.
The remaining funds available are then allocated to the 1,031 organizations funded through the CDF process.

Justin Brannan

2:40:03

So the one time funding and adoption, so of the additional 40,000,000 the council included in the DCLA's FY 2024 budget.

2:40:13

The CDFs received 23,500,000 while the sigs got 16 and a half 1000000.

2:40:21

So could you tell us how was that the funding split between the sigs determined?

Lance Polivy

2:40:32

Council member Brandon, can you please repeat the question?

Justin Brannan

2:40:34

Yeah.

2:40:36

Of the additional $40,000,000, the council included in DCLA's FY 'twenty 4 budget, The CDF received 23 and a half 1000000 while 16 and a half was allocated to the Sigs.

2:40:49

So we're trying to understand how the the 40,000,000 was split.

Lance Polivy

2:41:00

You're saying who made the determination?

2:41:02

Yeah.

Justin Brannan

2:41:02

Why why did why did this why did CDF get 23a half and why did the Sigs get 6 a half?

Laurie Cumbo

2:41:09

Well, in each process that we have to do that, there's a baseline amount of funding that has to go to the cultural institution groups each year.

2:41:16

So that funding goes for security, light, gas, utilities, all of those things.

2:41:23

So a lot of that decision is built in in terms of how much funding baseline that the cultural institution groups get.

2:41:30

Those are the 34n institutions that we are obligated to support and to fund each year.

2:41:35

And the CDF process, a lot of that has to do with the amount of funding that is available that we are able to allocate to 1031 organizations that we fund, but much of this funding is determined from baseline at how much it's going to cost in order to oversee the operation of city owned properties that are part of the city's responsibility, financial and fiscal responsibility to manage and maintain.

← Previous Chapter

What is being done to increase funding for arts and cultural institutions in New York City?

Next Chapter →

What was the average increase in funding that Cultural Development Fund (CDF) recipients received from the one-time $40,000,000 allocation?