New York City, New York

Overview

New York City's adopted FY2027 budget totals $125.84 billion ($125,842 million), a $1.14 billion increase over the Executive Budget released in May. Taxes supply $88,674 million of revenue — general property tax $37,300 million and other taxes $50,445 million — with state categorical grants of $20,813 million and federal categorical grants of $7,374 million. On the spending side, personal service costs $60,752 million and other-than-personal-service costs $59,455 million, with debt service of $9,328 million. The general reserve is $450 million, after a $1 billion reduction to in-year reserves announced in the Preliminary Budget.

Source: NYC Comptroller, Comments on New York City's Fiscal Year 2027 Adopted Budget.

At a glance — adopted budget FY 2027

Where the money comes from

FY2027 revenues from the June Financial Plan table in the Comptroller's report (millions). The components below sum to the total once intra-city revenues, disallowances, and inter-fund revenues are included, as shown in the reconciliation line.

All figures in millions. The table's own note states numbers may not add to totals due to rounding.

Source: NYC Comptroller, FY 2027–FY 2030 June Financial Plan, Table 1.

Where the money goes

FY2027 expenditures from the same table (millions).

Subtotals as printed: personal service $60,752 million; other than personal service $59,455 million. The Comptroller notes the prepayment of the upcoming year's expenditures fell from $3.79 billion in FY2025 to $1.96 billion in FY2026, the fourth consecutive annual decline.

Source: NYC Comptroller, FY 2027–FY 2030 June Financial Plan, Table 1.

What the Comptroller flags

The Comptroller's assessment — not the city's — is that recurring spending continues to outpace recurring revenues. The administration relied on $6.07 billion in temporary measures across FY2026 and FY2027, including re-amortization of pension liabilities, favorable state actions, and write-downs of prior-year accrued expenses. The Comptroller forecasts higher gaps than the administration in FY2027 ($743 million) and FY2028 ($7.25 billion), and somewhat lower gaps in FY2029 ($7.87 billion) and FY2030 ($6.84 billion), before counting risks from unproven savings initiatives. A citywide savings initiative produced $1.77 billion in budgeted savings over FY2026–FY2027, and post-adoption 2.5% annual agency savings targets could save about $1.50 billion a year if applied as described.

Source: NYC Comptroller, Comments on New York City's Fiscal Year 2027 Adopted Budget, Executive Summary.

Elected officials

Sources & notes

• Only source used: NYC Comptroller, Comments on New York City's Fiscal Year 2027 Adopted Budget. Comptroller's FY2027 adopted-budget comments.
• Sum checks: revenues exact at $125,842 million across all Table 1 lines; expenditures exact at $125,842 million (personal service $60,752 + other-than-personal-service $59,455 + debt service $9,328 − $1,959 BSA + $450 general reserve − $2,184 intra-city).
• What is not claimed: the prior-year FY2026 adopted budget ($115.91 billion) is not used as the basis; borough-level figures are not shown because the cited report is a citywide plan; no individual elected officials beyond the mayoral administration are named in the cited report excerpts, so none are listed by name.
• Jurisdiction palette: no verified New York City palette was on file, so this page uses the neutral Hometown Numbers dark-glass theme rather than a city color.

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