Your guide to NYC's public proceedings.
AGENCY TESTIMONY
Fiscal Year 2026 preliminary budget overview and financial challenges
0:23:20
ยท
85 sec
Chancellor Aviles-Ramos provides an overview of the Fiscal Year 2026 preliminary budget for NYC Public Schools and highlights key financial challenges.
- The total budget is approximately $41.2 billion, including $33.5 billion in operating resources
- Expresses gratitude for the backfilling of critical stimulus-funded programs like Summer Rising and Learning to Work
- Highlights that city tax levy money is the largest source of revenue, projected to be 59% in FY26
- Identifies significant fiscal cliffs for stimulus-funded programs that have not been fully backfilled, such as early childhood education
- Emphasizes the need to baseline funding for critical programs to ensure consistent support for families
Melissa Aviles-Ramos
0:23:20
Now let me speak about our finances.
0:23:23
Our fiscal year twenty twenty six preliminary budget totals approximately $41,200,000,000 which includes $33,500,000,000 in operating resources and another 7,700,000,000.0 for education related pension and debt service funds.
0:23:42
We are grateful that there are no additional PEGS included in this proposed budget and I want to thank the mayor for backfilling critical stimulus funded programs that would otherwise expire such as summarizing and learning to work.
0:23:54
City tax living money is our largest source of revenue projected to be 59% in fiscal year twenty six and both the mayor and city council play an essential role in allocating these funds.
0:24:06
To that end however, I want to be clear that we still face key financial challenges including significant fiscal year twenty six cliffs for stimulus funded programs that have not been fully backfilled such as early childhood education and other gaps including due process cases, nursing, IT costs, and preschool special education classes, just to name a few.
0:24:29
Even funding for summarizing and learning to work is only for FY '26 and is not guaranteed in the out years.
0:24:37
While the city has invested in filling some of these gaps, it is critical to baseline these dollars to ensure we can provide all families with the appropriate programs and supports.