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AGENCY TESTIMONY

Introduction and overview of the FY 2026 executive budget

0:10:28

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72 sec

Jacques Jiha, Director of NYC Mayor's Office of Management and Budget, presents the FY 2026 executive budget to the city council. He outlines a balanced budget of $115.1 billion with manageable outyear gaps and record-level reserves.

  • Budget is shaped by four elements: strong economy, significant savings, targeted investments, and fiscal discipline
  • Reserves remain at a record level of $8.5 billion
  • Outyear gaps range from $4.6 billion to $5.8 billion for fiscal years 2027-2029
Jacques Jiha
0:10:28
Good morning speaker Adams, chair Brennan, and members of the finance committee and city council.
0:10:34
Thank you for the opportunity to testify here today about the fiscal year twenty twenty six executive budget.
0:10:44
I'm Jacques Chichaja, and I'm the director of the New York City mayor's office of management and budget.
0:10:51
I'm joined by OMB first deputy director Ken Gardner and senior deputy directors Tara Ward and Latanya McKinney.
0:11:02
The fiscal year twenty twenty six executive budget is balanced at a hundred and $15,100,000,000 with manageable hourly gaps of $4,600,000,000, 5 point 8 billion dollars, and $5,700,000,000 in fiscal year twenty seven through twenty nine.
0:11:20
Our budget reserves remain at a record level of 8 and a half billion dollars.
0:11:28
4 fundamental elements shape the executive budget.
0:11:33
A strong economy, significant savings, sound and targeted investments, and fiscal discipline.
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