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REMARKS
Lincoln Restler delivers opening remarks on CFB's role and budget
2:11:53
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89 sec
Council Member Lincoln Restler provides an opening statement on the Campaign Finance Board's role and budget. He emphasizes the importance of the CFB as an independent agency and its impact on New York City elections.
- Restler highlights the CFB's responsibilities in providing campaign finance information and enabling more candidates to run for office
- He notes that the majority of CFB's budget in a competitive election year goes to public matching funds
- The council member stresses the significance of New York City having the largest public matching funds program in the country
Lincoln Restler
2:11:53
Thank you very much, chair Brennan.
2:11:55
And I just wanna take a moment to say that we are very fortunate in this council to have your leadership of the finance committee.
2:12:01
And we've also been joined by council member Youssef Salon.
2:12:09
The campaign finance board, as we all know, is an independent agency that provides campaign finance information to the public, enables more candidates to run for office by granting public matching funds, increases voter participation and awareness, and combats corruption in city elections.
2:12:24
As an independent agency, the CFB sets its own budget and the full proposed budget is included only in the executive plan, so this is our first and primary opportunity to discuss the needs of the agency.
2:12:34
Today, we look forward to discussing the CFB's operations, staffing at the department, the new needs in the executive plan, CFB's work to increase voter engagement, as well as the board's efforts to enforce compliance with our campaign finance laws and ensure New Yorkers remain confident in the administration of public matching funds.
2:12:50
The majority of CFB's budget in a competitive election year is public matching funds at $82,600,000 in FY '25.
2:12:57
Matching funds are over 50% of the CFB's budget.
2:13:00
NYC, New York City has the biggest public matching funds program in the country, which creates a more equitable landscape and gives candidates from all backgrounds the chance to run for office.
2:13:10
Indeed, our renowned matching fund system is a key contributor to this being the most diverse city council in our city's history.
2:13:17
As the steward of these funds, CFB has an enormous responsibility in ensuring that they are not misused or abused.