Mayor Adams Releases November 2025 Financial Plan Update with New Investments to Make New York City Safer, More Affordable

New York – New York City Mayor Eric Adams today announced the release of the November 2025 Financial Plan Update with investments that continue to make New York City safer, more affordable, and more livable for working-class New Yorkers. The plan update brings the Fiscal Year (FY) 2026 budget to $118.2 billion and reflects the Adams administration's ongoing commitment to strong fiscal management by achieving citywide savings and making targeted investments that will support the administration's public safety efforts, including increasing the headcount of the New York City Police Department (NYPD) by 5,000 officers, additional funding for rental assistance for working-class New Yorkers, expanding New York City Department for the Aging's (NYC Aging) Caregiver program to support an additional 3,000 participants, and reinforcing other critical programs that deliver for working-class New Yorkers and make New York City the best place to raise a family.

"Over the course of four on-time, annual budgets, our administration has delivered for working-class New Yorkers time and again, and this November Financial Plan Update is another example of how our strong fiscal management is making New York City safer, more affordable, and improving New Yorkers' quality of life," said Mayor Adams. "We are making multiple investments to make our city safer, including increasing the headcount of the NYPD by 5,000 officers. We are also continuing to invest in the solutions that make our city more affordable by supporting the city's 60,000 households who use CityFHEPS vouchers and investing in our most vulnerable New Yorkers living in the city's shelter system. This $118.2 billion Fiscal Year 2026 budget, once again, demonstrates how our administration has worked relentlessly to make New York the best place to live in and raise a family."

Investment Highlights (all FY 2026 unless noted)

Keeping Communities Safe

• Addressing quality-of-life and public-safety issues at the Bronx Hub with a multi-agency operation, which includes services for individuals experiencing homelessness and substance use disorder to support their basic life and medical needs, as well as tackle public drug use ($22.7 million).
• Funding for additional staff and other associated costs related to expanded automated red light and bus lane camera enforcement ($17.9 million).
• Hiring to meet the first phased-in increase of up to 5,000 additional police officers by FY 2029 ($17.8 million in FY 2027).
• Adding 93 positions to increase community outreach, inspections, disease surveillance, and laboratory testing for Legionnaire's disease ($14 million).
• Increasing staffing within the Bronx and Brooklyn District Attorneys' Offices to address an increased workload due to discovery obligations ($12 million).
• Transitioning B-HEARD to NYC Health + Hospitals ($10 million).
• Funding a portion of replacement costs of 1,000 NYPD vehicles that are past their useful life ($10 million).
• Repairing façades and roofs at various New York City Department of Citywide Administrative Services managed city buildings ($9.1 million).
• Supporting health care – including medical and dental services – for youth in New York City Administration for Children's Services detention facilities ($6.5 million).
• Expanding programming for Emerge, which aims to improve the re-entry outcomes of justice-involved New Yorkers and at-risk youth by providing free access to vocational trades training and providing direct employment in industries like transportation and logistics ($2.9 million).
• Establishing an LGBTQ+ Emergency Fund that will provide funding to community-based networks that provide direct services to LGBTQ+ New Yorkers ($2 million).
• Providing resources for annual building and waterfront maintenance on Governors Island ($1.5 million).
• Creating a Youth Justice Bureau within the Bronx District Attorney's Office to more appropriately prosecute youth cases and enhance services to mitigate circumstances that lead to youth violence, including specialized training on youth development, resource coordinators, and partnerships with mental health services ($1.5 million).
• Adding staff to help clear the backlog of complaint cases related to the Citizen Idling Program ($1.5 million).
• Expanding the Office of the Chief Medical Examiner's genetic testing and counseling capacity to proactively identify genetic causes of sudden death and directly reach at-risk family members for preventative care ($600,000).
• Expanding the body-worn camera program to all 130 New York City Department of Sanitation police officers ($500,000).
• Funding an emergency contract to investigate the New York City Housing Authority partial building collapse at 205 Alexander Avenue ($350,000).
• Increasing staffing to complete additional asbestos inspections in response to growing permit filings and 311 requests, which have increased ($340,000).

Making New York City More Affordable

• Preventing homelessness and keeping vulnerable New Yorkers in their homes with additional support for rental assistance by primarily supporting the 60,000 New York City households who currently use City Fighting Homelessness and Eviction Prevention Supplement (CityFHEPS) vouchers ($400 million).
• Adding support for the city's homeless shelter system ($150 million).
• Meeting increased state-mandated reimbursement costs for foster parents, adoptive parents, and kinship guardians ($50 million).
• Funding to partially cover the city's annual contributions to the Metropolitan Transportation Authority driven in part by increased paratransit costs ($15.2 million).
• Expanding NYC Aging's Caregiver program to support an additional 3,000 participants, bringing the total served to about 8,400, and expanding the agency's Aging Connect, transportation, and case management programs ($9.3 million).
• Reimbursing owners of qualified 1 to 3 unit properties who purchased wheelie trash bins ($9.1 million).
• Expanding student loan counseling from just New York City employees to every city resident ($6.5 million).
• Maintaining required Medallion Loan Fund reserves that help pay loans for struggling taxi drivers ($3.9 million).
• Funding to support NYC Tourism + Conventions' marketing ($2 million).
• Reinstating weekend ferry service between Brooklyn and Governors Island during the 2026 May through October high season ($100,000).

Supporting Young New Yorkers

• Funding distribution, maintenance, and wireless service costs through the end of 2025 associated with the purchase of 350,000 Chromebooks for New York City public school students ($24.3 million).
• Supporting programing and additional staffing related to Mayor Adams' "After-School for All" expansion in New York City ($3.5 million).

Improving Quality of Life

• Funding for printing services, technical support, transportation, and other costs needed to administer early and Election Day voting ($35 million).
• Backstopping the federal Corporation for Public Broadcasting grant that was eliminated in July in order to support 22 staff who operate the city's radio and television networks ($2.4 million).
• Adding resources for waste containers and collection at some schools in Brooklyn Community Board District 2, and additional container costs in Manhattan Community Board District 9 ($1.5 million).
• Supporting a multimedia campaign by NYC Aging to eliminate bias related to age and foster tolerance across generations ($800,000).
• Supporting the Native American Art fund that will preserve, recognize, and foster a greater appreciation and understanding of the foundational and extraordinary role of Native Americans in New York City by working in close collaboration with Native American curators, presenters, artists, musicians, writers, and other leaders ($750,000).

Ongoing Strong Fiscal Management

With these adjustments, the FY 2026 budget is now $118.2 billion. Out-year budget gaps are manageable and either declined or grew modestly since budget adoption because of a continued focus on saving taxpayer dollars. The FY 2027 budget gap is now $4.7 billion, a reduction of $353 million, or nearly 7 percent, driven by pension and labor savings. The FY 2028 and FY 2029 gaps are both now $6.3 billion.

The plan update reflects $419 million in additional tax revenue in FY 2026 since the budget was adopted in July, driven by stronger than expected personal income tax collections related to the city's strong economy.

The administration has remained focused on achieving savings to make the best use of taxpayer dollars and balance the budget. This plan reflects total savings of $528 million in FY 2026 and $602 million in FY 2027. The savings achieved in the November Plan Update substantially offset agency expense changes over FY 2026 and FY 2027 that prioritize public safety, meet unfilled needs, and fund critical programs.

Today's announcement follows Mayor Adams' long history of strong fiscal management, including delivering an on-time, balanced, and fiscally-responsible $115.9 billion Adopted Budget earlier this year, which built on the FY 2026 Executive Budget, often called the "Best Budget Ever." The Executive Budget doubled down on Mayor Adams' commitment to make New York City the best place to raise a family by, among other things, investing in "After-School for All," a $755-million plan to deliver universal after-school programming to families of children in kindergarten through eighth grade; baselining funding for 3-K citywide expansion and special education pre-K to build on the administration's work to dramatically expand access to early childhood education; investing over $400 million to fully fund the transformation of Fifth Avenue in Manhattan into a world-class, pedestrian-centered boulevard; and revitalizing "The Arches," the public space on the Manhattan side of the Brooklyn Bridge; among other major initiatives. The FY 2026 Adopted Budget was also the first to implement Mayor Adams' landmark "Axe the Tax for the Working Class" plan, which abolishes and cuts New York City's personal income tax for filers with dependents living at or below 150 percent of the federal poverty line. Because of this plan – which the Adams administration successfully fought to pass in Albany this budget cycle – $63 million will go back into the pockets of over 582,000 low-income New York filers, including their dependents, helping make New York City more affordable for working-class families.