New York City Council
Committee on Finance
Jun 30, 2024
·
12:30 PM
18 min
Summary
A vote. The committee passes the $112.4 billion budget for Fiscal Year 2025, including restorations for libraries, cultural institutions, affordable housing, and early childhood education. The committee also sets property tax interest rates for late payments and introduces legislation to reform property tax collection.
Meeting chapters
Read summaries and watch videos for short segments that matter to you.
Overview of FY25 budget adoption and acknowledgments
Council Member Brannan introduces the $112.4 billion budget for FY25 and expresses gratitude to various individuals and teams involved in the budget process. He highlights Speaker Adams' leadership and the …
0:00:58
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3 min
Highlights of budget restorations and baselines
Council Member Brannan outlines key budget restorations and baseline funding secured by the City Council. He emphasizes the focus on essential services, affordable housing, education, and social support programs. - …
0:04:15
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138 sec
Property tax interest rates for FY25
Council Member Brannan discusses the proposed interest rates for late payment of property taxes in FY25. He outlines the Banking Commission's recommendations and the Finance Committee's decision to adopt lower …
0:06:34
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124 sec
Introduction of legislation for tax collection reform
Council Member Brannan introduces Introduction 962, a local law aimed at reforming the city's process of collecting outstanding property taxes and charges. The legislation focuses on home preservation and debt …
0:08:39
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31 sec
Outline of budget-related items for voting
Council Member Brannan provides a detailed list of budget-related items that require a vote from the committee. These items include various resolutions and legislative pieces related to the FY25 budget. …
0:09:10
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90 sec
Explanation of Schedule C and disclosure requirements
Council Member Brannan explains Schedule C and the disclosure requirements for council members regarding potential conflicts of interest. He emphasizes the importance of transparency in the budget process. - Schedule …
0:10:41
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73 sec
Diana Ayala discloses potential conflict of interest
Council Member Diana Ayala discloses a potential conflict of interest regarding the budget being adopted. She mentions that AHRC is funded in the budget and her partner is associated with …
0:12:12
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8 sec
Keith Powers explains vote and discloses potential conflict of interest
Council Member Keith Powers votes on the budget while disclosing a potential conflict of interest related to Mount Sinai House, which is funded in the budget. He mentions that his …
0:12:29
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9 sec
Farah Louis discloses potential conflicts of interest
Council Member Farah Louis discloses potential conflicts of interest related to entities funded in the budget being adopted. She mentions having siblings associated with CUNY and MTA, both of which …
0:12:45
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17 sec
Selvena Brooks-Powers discloses associations and votes on budget
Council Member Selvena Brooks-Powers discloses her associations with organizations funded in the budget being adopted, and then casts her vote. - Disclosed associations include the Queen's alumni chapter of Delta …
0:13:09
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36 sec
Diana Ayala explains her vote and discloses association with CUNY Hunter
Council Member Diana Ayala votes in favor of the budget and discloses her association with CUNY Hunter for the record of the council proceedings. - Ayala votes "I" (aye) on …
0:13:50
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9 sec
Amanda Farias discloses potential conflicts and votes aye
Council Member Amanda Farias discloses potential conflicts of interest related to entities funded in the budget being adopted, and then votes in favor of the budget. - Discloses that NYU …
0:14:01
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15 sec
Selvena Brooks-Powers explains her vote on budget resolutions
Council Member Selvena Brooks-Powers briefly explains her voting decisions on several budget-related resolutions. She votes against multiple resolutions but supports the remaining items. - Brooks-Powers votes no on resolutions 482, …
0:14:21
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12 sec
Crystal Hudson discloses potential conflicts and thanks staff
Council Member Crystal Hudson discloses potential conflicts of interest related to entities funded in the budget being adopted and expresses gratitude to the staff involved in the budget process. - …
0:14:44
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17 sec
Pierina Ana Sanchez explains her vote and discloses potential conflict of interest
Council Member Selvena Brooks-Powers discloses a potential conflict of interest regarding CUNY funding in the budget and votes in favor of the budget. - Discloses that a sibling is associated …
0:15:16
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13 sec
Althea Stevens discloses potential conflicts of interest
Council Member Althea Stevens discloses potential conflicts of interest related to entities funded in the budget that the council is about to adopt. She mentions her daughter's association with the …
0:15:35
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19 sec
Council Member Nantasha Williams discloses potential conflicts of interest
Council Member Nantasha Williams discloses potential conflicts of interest related to organizations funded in the budget being adopted. She mentions the state of New York and the Queensland initiative Delta …
0:16:01
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15 sec
Julie Won explains her vote and discloses association with YMCA
Council Member Julie Won discloses her association with YMCA, which is funded in the budget being adopted, before casting her vote. - Won acknowledges that YMCA is funded in the …
0:16:22
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9 sec
Yusef Salaam discloses potential conflict of interest regarding YMCA funding
Council Member Yusef Salaam discloses a potential conflict of interest related to YMCA funding in the budget being adopted. He mentions that he and his family are associated with the …
0:16:38
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13 sec
David M. Carr explains his vote and discloses affiliations
Council Member David M. Carr discloses his affiliations with organizations funded in the budget and explains his voting intentions. He states he will vote no on several pre-considered resolutions and …
0:16:55
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25 sec
Vote outcome on budget items and resolutions
The committee voted on various budget items and resolutions. The outcome was as follows: - All items were adopted with 17 in the affirmative, 0 in the negative, and no …
0:17:24
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27 sec
