"Next year's spending plan does not reflect reality: it's short nearly $4 billion needed to fund existing services," warns Citizens Budget Commission President Andrew Rein.
"Adjusted for underbudgeting and pre-payments, city-funded spending will grow 6.7% in fiscal year 2025 and 5% in fiscal year 2026," flags Rein. That's way faster than inflation.
"Adams' projected future shortfalls - $4.2 billion in 2027, $5.4 billion in 2028 and $5.1 billion in 2029 - are scary enough, but the actual gaps are at least 40% worse, totaling $25 billion or more."
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