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AGENCY TESTIMONY
Savings measures and fiscal discipline in the executive budget
0:12:55
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70 sec
Director Jiha emphasizes the administration's priority on achieving savings without service cuts or layoffs. He outlines the total savings and highlights fiscal discipline in budget planning.
- Total savings of $1.9 billion over FY 2025 and 2026
- Asylum seeker savings of $28 million in FY 2025 and $1.2 billion in FY 2026
- Two-year savings total from all sources nearly $6.8 billion
- City-funded expenditure growth limited to 1.3% over the preliminary budget
Jacques Jiha
0:12:55
Achieving savings is a key administration priority.
0:13:00
Total savings in this plan are $1,900,000,000 over fiscal year twenty five and twenty six and were attained without service cuts or layoffs.
0:13:11
This includes asylum seeker savings of $28,000,000 in fiscal year twenty five '1 point '2 billion dollars in fiscal year twenty six to reflect the census decline.
0:13:25
This brings the two year savings total from all sources over the last three plan to nearly $6,800,000,000.
0:13:36
As a result of the strong economy and savings program, we're able to make critical upstreams investment and reduce risks in the financial plan by baselining funding for many recurring programs that have been funded with short term stimulus dollars or one year at a time.
0:13:58
And despite our good fortune, we remain fiscally disciplined.
0:14:03
We invested prudently.