Your guide to NYC's public proceedings.
Q&A
When to use NYC's reserve funds
5:50:42
·
9 sec
Council Member Williams asks about the appropriate time to draw down from the reserve fund. IBO Director Chafee provides a succinct metaphorical answer.
- Chafee states that reserves should be used 'When it's raining really hard'
- This metaphor suggests reserves should be tapped during severe financial difficulties or crises
- The brief exchange underscores the importance of judicious use of reserve funds
Nantasha M. Williams
5:50:42
And when do you think it's appropriate to draw down from the reserve fund?
Louisa Chafee
5:50:48
When it's raining really hard.
Nantasha M. Williams
5:50:51
Thank you.