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AGENCY TESTIMONY
Projected budget gaps and need for strategic planning
4:02:30
ยท
55 sec
Comptroller Lander presents his office's projections for budget gaps, which are higher than those estimated by the Office of Management and Budget (OMB). He emphasizes the need for strategic planning and efficiency measures to address these gaps.
- Lander's office projects budget gaps of $1.48 billion for FY '25, $4.46 billion for FY '26, increasing to $7.8 billion (6.3% of total reserves) by FY '29.
- The Comptroller criticizes the administration for not including a savings plan with the preliminary budget.
- He advocates for strategically implementing efficiencies and cost savings with each budget modification, rather than waiting for a crisis.
Brad Lander
4:02:30
Taken together, adding all of that up, my office projects higher budget gaps than OMB, including those reserves, by 1,480,000,000.00 for FY '25, '4 point '4 '6 billion for FY '26, and increasing to 7,800,000,000.0 or 6.3% of total reserves by FY twenty nine.
4:02:52
As I've advocated every time I've come here, addressing those gaps requires the administration to strategically implement efficiencies and cost savings with each budget modification rather than waiting for a moment when you have a problem.
4:03:06
Given the risks on the horizon, it is mind boggling that there's no savings plan included with the preliminary budget.
4:03:15
At the same time, it is incumbent upon us to protect core services that the most vulnerable New Yorkers rely on in light of the same cuts.