Q&A
Q&A on cultural institutions funding and PEG restorations
5:26:47
·
131 sec
Council Member Adams inquires about the restoration of funds for cultural institutions, particularly the Cultural Development Fund (CDF) and Cultural Institutions Group (CIG) PEGs.
- Adams asks why the $4.2 million PEG for FY24 to the CDFs was not restored in the executive plan.
- Jiha explains that the timing of the CDF funding awards prevented the restoration in FY24.
- The administration has restored some PEGs, particularly one from January.
- Jiha notes that further restorations will be part of the conversation as they approach budget adoption, depending on available resources.
- Adams emphasizes the council's prioritization of the cultural community and hopes for swift resolution of the restorations.
Adrienne E. Adams
5:26:47
That's encouraging.
5:26:48
Thank you.
5:26:50
We're gonna move on and talk about cultures for a little bit with a PEG restoration there.
5:26:55
Cultural institutions, as we know, are integral to the stability and growth of neighborhoods into the city's economy.
5:27:02
In order to appropriately account for the needs of the city's cultural institutions, the council called on the administration in our budget response to restore and baseline the pegs to the SIGs and the CDF.
5:27:15
The executive plan includes a restoration of some of the funds cut in November and January pegs, but not all of them.
5:27:22
Why was the $4,200,000 peg for f y 24 to the CDFs not restored in the executive plan, particularly in light of how small an amount this is in relation to the entire city budget and to the size of other peg restorations included in the executive plan?
Jacques Jiha
5:27:41
Yeah.
5:27:41
Again, it's just it's just a question of timing.
5:27:44
Okay.
5:27:45
The CDF funding had already been awarded, by the time of, the executive budget.
5:27:53
So but, again, there would not have been a way for them to utilize the funding in fiscal year 24 in fiscal year 24 through the, CDF, awarding process.
5:28:05
So it's just a question of time.
5:28:07
K.
5:28:08
Okay.
Adrienne E. Adams
5:28:09
So we're talking about timing.
5:28:10
So there is definitely still hope for that restoration, to the PEGs, to the SIGs, to the CDFs.
Jacques Jiha
5:28:18
We as you know, we have restored, one of, the PEGs, deal, which is a PEG that we took in January.
5:28:26
But again, this has to be as part of the conversation we have as we get closer to adoption if resources are available.
5:28:34
Because as I said, you know, it's a challenge for us at this point in time, because, for the month of April, we are down about $200,000,000 lower than we anticipate.
5:28:46
It could be a fluke.
5:28:48
It could be simply a question of timing of refunds, but we don't know because there are so many conflicting things.
5:28:54
But if resources are available, we will work with the council and see what can be done.
