Jacques Jiha
4:58:28
We face unprecedented challenges over this budget cycle, including the need to spend 1,000,000,000 of dollars to house care and care for asylum seekers with almost no help from the federal government.
4:58:45
Federal stimulus dollars that had been used to fund long term programs are expiring and creating budget cliffs.
4:58:53
In the spring of 2022, increasingly large number of asylum seekers began arriving in New York City.
4:59:02
By July 1, 2023, we are housing, feeding, and caring for about 52,000 migrants, and 84,000 had come through our intake system.
4:59:15
As of last week, we have 65,800 migrants in our care and more than a 198,500 have gone through our intake system.
4:59:28
Our initial forecast forecast, which was reflected in the fiscal year 24 adapted budget was $2,900,000,000 in fiscal year 'twenty four and $1,000,000,000 in fiscal year 'twenty five.
4:59:42
Amazingly at that time, many monitors said that our estimates were too high.
4:59:49
What we ultimately learned was that they were too low.
4:59:54
By midsummer, the data confirmed the alarming trend.
4:59:59
Arrivals surged well past our initial estimates, pushing costs significantly above our forecast.
5:00:07
Accordingly, in early August 2023, we announced an update to our cost forecast increasing it to $4,700,000,000 in fiscal year 24 and $6,100,000,000 in fiscal year 25.
5:00:21
On top of the $1,400,000,000 already spent in fiscal year 20 3, this brought total projected cost to $12,200,000,000 over just 3 fiscal years.
