Now, guys, settle down.

Thank you for your patience.

Good afternoon.

Good afternoon.

Welcome to the New York City Council vote on the Committee on Finance.

At this time, please silence all electronics and do not approach today.

Chair, you may begin.

Okay.

Good afternoon, and welcome to feedback.

Welcome to today's finance committee meeting where we will be voting to adopt the fiscal 2027 budget.

Councilmember Linda Lee, Chair of the Finance Committee, and I would like to acknowledge my fellow committee members present.

Councilmember Brooks Powers, Councilmember Felice, Councilmember Aviles, Council Majority Leader Brayu, Councilmember Hudson, Councilmember.

Wait, no, he's not here.

Sorry.

Councilmember Mealy, Councilmember Narcis, Councilmember Wrestler, Deputy Speaker Williams, Councilmember Aldaball, Councilmember Maloney, Councilmember Jay Sanchez, Councilmember Wong, and Councilmember Morano.

Yay.

Okay.

Um, sorry, it's gonna be a little long.

I think this is the longest one I've ever had.

So I will try to be quick.

Um today, the finance committee will take the necessary actions for the City Council to adopt $125.8 billion budget for fiscal year 2027.

To begin, I would like to thank Speaker Julie Menon for her leadership throughout this entire budget process.

The speaker and the council remained committed to reaching a budget that keeps vulnerable families housed, invests in New Yorkers, and safeguards our city's long-term fiscal future.

I also want to thank the Council Finance Division for their hard work.

Woo-hoo in their in their preparations of the briefings, presentations, and reports which went into crafting this budget, and we deeply deeply appreciate the dedication of all the financial analysts and economists who got us this vote today.

A very special thank you to the finance division's leadership team who spearheaded the effort, finance director Nathan Toth, Managing Director Jonathan Rosenberg, Deputy Directors Amra Adev, Chima Obisher, Paul Simone and Isha Wright, Chief Economist and Assistant Director Delara Dimnaku, Supervising Economist Paul Serm and Andrew Wilbur, Assistant Directors Alia Ali, Julia Haramis, Florentine Cabor, Daniel Krupp, Caitlin O'Hagan, James Reyes, and Jack Story, Chief Counsel Nicholas Connell, Senior Council, Nadia Jean Francois, my committee council Brian Sarfo.

I don't know why I feel like I have to do that.

My senior advisor, sorry, Athena Say, and uh the many finance analysts, economists and support staff who have worked behind the scenes to bring everything together.

I want to make special notice of the finance administrative staff and the legislative documents unit that pull everything together to ensure that this budget process was seamless for all of us.

Thank you to Nicole Anderson, Michelle Bati, Alexandra Pascal, Jonathan Etricks, Ruthie Delfranco, Gillian Jeffries, Yvette Molina, Billy Martin, and Matthew DeStefano.

The amazing sergeants at arms, yay!

Sorry.

Um, they keep things orderly and safe on either side of Broadway throughout our preliminary and executive hearings.

Parade season and everything in between.

Thank you, Carl Raphael and the entire team.

And last but not least, a special shout out to my district office chief of staff Keith Felsenfeld, Deputy Chief of Staff Daniel Sparrow, Legislative and Budget Director John Wani, and my district manager Silla Asa for holding down the fort for District 23 and for being instrumental during this budget season.

This budget represents the council's commitment to achieve a balanced budget without cutting services, drawing down on reserves, or imposing drastic property tax increases.

Further, this budget includes key investments in programs such as City FEPS, Fair Fairs, New York City Kids Rise.

All these programs will aid families in preparing for the future and tackle the issue of affordability.

We successfully protected and achieved funding of 14.4 million for our parks, maintaining and optimizing our green spaces, an additional 1 million dollars for our libraries sustaining continuing to continue to sustain our seven-day service, and a continued commitment for the mental health and well-being of New Yorkers with $4.5 million for the city's ACT teams, 11 million for IMT, and step-down mobile treatment centers.

The council was also able to restore $2.5 million in funding for crisis respite centers, proven evidence-based programs staffed by clinicians and peer counselors.

Lastly, this budget also secured $12 million to increase the reimbursements of nonprofits providing culturally competent home delivered meals seven days a week and restored $86.4 million for nonprofits delivering immigrant legal services, ensuring that New Yorkers have trusted legal support when needed most.

We are delivering a balanced on time budget, restoring our reserves, and still investing in making our city safer, healthier, and more affordable without adding additional burdens for New Yorkers.

Now let's turn to adopting this budget.

Before we get to the vote, I'd like to discuss the specific items that we will vote on today.

All members received a budget packet by the committee council and finance team that contains all the budget related legislation that must be voted on by the committee and again by the full council at the stated meeting.

So I'm going to just list the items that are on our agenda today that require vote.

Number one, resolution approving the FY27 expense budget.

Number two, resolution approving the FY27 contract budget.

Number three, resolutions approving the FY27 Capital Budget, Reso A and Reso B.

Number four, resolution approving an expense budget modification, which closes out FY26.

Number five, resolution approving a revenue budget modification, which closes out FY26.

Number six, resolution approving the proposed FY27 community development program, reallocation of 52nd year funds, and proposed 53rd year program.

Number seven, three property tax resolutions, current base proportion, adjusted base proportion, and the resolution fixing the tax rates are all interlocking resolutions that together are necessary for adopting the FY27 property tax rates.

Number eight, four resolutions in relation to real property tax, late payment interest rates for FY27.

Number nine, a transparency resolution.

The other documents in the packet which do not require a separate vote are Schedule C and a list of the terms and conditions included in the expense budget for FY27.

As a reminder to members, Schedule C is a schedule of the expense and contract budgets and the appropriations for the organizations listed in Schedule C are funded by the expense and contract budgets.

Council members will have to sign a disclosure form indicating whether or not a conflict exists with any of the groups listed in Schedule C or Reso A, which details the designations of capital discretionary funds.

A separate disclosure form must be completed for the transparency resolution.

If any council member has a potential conflict of interest with any of the organizations included, he or she has the opportunity to disclose the conflict at the time of their vote.

If you have not yet signed those disclosure forms, staff from the general counsel's office are available to guide you through the process.

So please contact one of them before you vote.

As a further reminder, please disclose any conflicts you may have with proposed subcontractors that are used by any of the organizations sponsored.

These disclosures must be made before the subcontractor can be approved.

So those are all of our items for today.

I will now have Billy Martin, the committee clerk, call the role.

Oh, where's Billy?

Oh, might be the only that is going to be.

Yay.

Okay, so we will now have Billy Martin, the committee clerk, call the roll.

Thank you.

Hello, everybody.

William Martin Committee Clerk, roll call vote committee on finance.

All items are coupled.

Chair Lee.

Aye on all.

Wrestler.

I am disclosing for the record that my wife works at the mayor's office of management the budget, and I'm very proud of her.

And my mother serves on the board of the Mercantile Library Association of the City of New York and the Brooklyn Heights Association.

They are funded in this budget that we are adopting today.

And I vote aye on all.

Thank you.

Chair Lee.

Sorry, I didn't realize I had to disclose now.

Okay, sorry.

I'm just closing on the record of the council proceedings that the New York City Department of Education is funded in the budget we are adopting, and my children are associated with that entity, and that Korean community services is funded in the budget we are adopting, and my husband is associated with that entity.

Thank you.

Gennaro Brooks Powers.

Please come back to me.

Oh sure, sorry.

Felice.

I'm disclosing on the record that uh the City University of New York and Volunteers of America are funded in the budget we're adopting, and I and also my stabling and powering respectively are associated with those entities.

That said, I vote aye on all.

Thank you.

I vote aye.

I believe.

I'm disclosing for the record that um uproos and New York City Department of Education and Parks and Recreation are funded in this budget, and I or my child uh is associated with these entities.

Um I vote aye on all.

Hudson.

I'm disclosing on the record of the council proceedings at the Brooklyn Museum, Botanical Garden, Academy of Music, Museum of the City of New York, New York City Commission on Gender Equity, and Unlocal are funded in the budget.

We are adopting, and I, my spouse, and my business associate respectively are associated with those entities.

I vote aye.

Marty.

I don't know.

Narcisse.

Um I'm disclosing on the record of the council's proceeding that New York University, Brookdale Hospital, and uh Hope Incorporated are funded in the budget.

We are adapting in my partner and child respectively associated with those entities, and I vote aye on all.

And thank you, Speaker Menon.

Of course, my beautiful Chair Lee for the finance committee.

Thank you, and all my colleagues.

Thank you.

Williams.

I am disclosing on the record of the council proceedings that children's rescue fund, the city university of New York, and Queen's alumni chapter of Delta Sigma Data is already incorporated, are funded in the budget we are adopting, and my sibling and or I respectively are associated with these entities.

I vote aye.

Thank you.

Aldebolo.

Thank you again, speaker.

Um, Speaker Menon and Chair Lee for your leadership on this budget.

Um I'm disclosing on the record of the council proceedings that the New York City Police Department is funded in the budget we are adopting, and my business associate is associated with that entity, and I vote aye.

Maloney.

Thank you.

I'm disclosing on the record of the council proceedings that my sister serves on the board of the New York Foundation for Senior Citizens, and my parent is associated with the following entities.

Thank you, Chair Lee, for all of your long hours and lots of hard work.

Uh and I'd like to disclose for the record uh that I have nothing to disclose.

Uh I vote aye.

Wong.

Um, before voting, can I have the bill numbers for the lay payment interest with a resolution for assessed values of 250k or less and 250k to four fifty K and those the value over four fifty K.

I have them as two two seven four, two one seven six, and two one eight two.

Is that right or the numbers change?

Do you know or I think of the temp temporary numbers?

Okay, so okay, I my goal is yes on OIC step one.

Okay.

Okay, thank you, Councilmember.

Morano.

I am disclosing on the record of the council proceedings that the New York City Department of Education, Lou's Helping Hand, Victory for the Voiceless, Prospect Heights Open Street Inc., Columbia University, City University of New York, YMCA, and Italian Club of Staten Island are funded in the budget we are adopting, and my child spouse, siblings, and I respectively are associated with those entities.

I want to thank the chair for her heroic leadership over the course of this entire budget cycle.

You're a model public servant.

And with that, I will vote yes on T twenty twenty six dash twenty one seventy-seven and twenty one seventy-eight, and uh T twenty twenty six dash twenty three oh two and no on all the rest.

Yes, pardon, thank you.

Brooks powers.

Sure.

Council Member Gennaro.

Councilmember Brooks Powers.

I'm disclosing on the record of the council proceedings that the Queen's alumni chapter of Delta Sigma Theta Sarati Incorporated, and the YMCA are funded in the budget.

We are adopting, and I am associated with that organization.

And that the New York City Department of Education, Edge School of the Arts, and Community Youth Sir Care Services are funded.

In the budget, we are adopting, and my child is associated with those entities.

That's it.

Okay.

And with that, um, I vote aye on the budget.

Thank you.

All items have been adopted by the committee with the following votes.

Preconsidered resolution.

In relation to organizations receiving funding, the community development program, the expense revenue contract, and MN9 have been adopted by the committee with 14 in the affirmative, one in the negative, and no abstentions.

Interest rates in relation to 6%, 9%, and 16 have been adopted by the committee with 13 in the affirmative, two in the negative, no abstentions.

Pre considered resolution interest rate in regards to two point five percent, and the executive capital budget have been adopted by the committee with 15 in the affirmative, zero on the negative, and no abstentions.

That's everything.

Everything's been passed.

Okay.

I think we're good, right?

Okay, perfect.

Okay, so with that, that closes out uh our committee vote.

Thank you, everyone.

Congrats.