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AGENCY TESTIMONY
Introduction and overview of the Department of Finance's budget
5:02:34
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63 sec
Preston Niblack, Commissioner of the New York City Department of Finance, introduces himself and provides an overview of the department's role and budget for fiscal year 2026.
- The Department of Finance collects over $50 billion in taxes and other revenues, accounting for over 60% of city funds.
- The preliminary budget for FY 2026 is $358.5 million, split between $200.5 million for personal services and $158 million for other than personal services.
Preston Niblack
5:02:34
My name is Preston Niblak.
5:02:36
I'm the commissioner of the New York City Department of Finance.
5:02:38
Thank you for the opportunity to testify today on our fiscal year twenty twenty six preliminary budget.
5:02:44
I'm joined by Jeffrey Scherer, our first deputy commissioner, and Jacqueline James, our chief financial officer and deputy commissioner for administration.
5:02:52
The Department of Finance plays a fundamental role for the City Of New York, collecting over $50,000,000,000 in taxes and other revenues, which accounts for over 60% of city funds.
5:03:02
In this upcoming fiscal year, the agency's direction remains clear: to continue to administer the city's tax laws and perform our other responsibilities fairly, effectively, and with our customers, New Yorkers, squarely in mind at all times.
5:03:19
To begin I'd like to give you a brief overview of the Department of Finance's proposed budget for the coming fiscal year.
5:03:25
Our preliminary budget for fiscal year twenty twenty six is $358,500,000 split between $200,500,000 for personal services and $158,000,000 for other than personal services.