Though the bottom line is up $4 billion over this year's adopted budget, after adjusting for prepayments and added spending, it's actually down a hair. City-funded outlays will climb by about $5 billion, or 6.3%, offsetting the loss of expiring COVID-related federal funds.
Mayor Adams has already 'low-balled expenditures' by about $2 billion, based on the current level of city services. Still more funding may be needed to meet the state's absurd, counterproductive class-size mandates and an expansion of housing vouchers.
Adams' planning leaves a monster cash shortfall, $16.7 billion, for the three years after that. Even if expenses might come in lower or revenue higher, there would still be no money to plug holes left by the costs not yet accounted for.
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