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Council, Controller and Budget Office Clash Over Reserves as Federal Risks Grow
Summary
Council leaders, the mayor’s Office of Management and Budget and independent fiscal offices debated whether to place the FY25 surplus into rainy‑day reserves or prepay FY26 expenses as the city faces possible federal cuts, tariff‑driven volatility and large asylum costs.
The New York City Council and the mayor’s Office of Management and Budget tangled with the City Comptroller and the Independent Budget Office over how to use the FY25 surplus as federal decisions threaten grants and services.
The most immediate disagreement was whether to deposit new surplus dollars into reserves or apply them as prepayments against next year’s costs. Comptroller Brad Lander urged the city to “add $1,000,000,000 to the general reserve in the FY 26 budget as a protecting New York City reserve,” saying the city must prepare for potential federal cuts that could reduce funding for housing vouchers, Medicaid and SNAP. Lander said federal actions are already constraining…
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