Savings

The Adams Administration Achieved PEG Savings of $6.6 Billion over FY24 and FY25 in the November 2023 Financial Plan and FY25 Preliminary Budget

99% of the PEG Savings Achieved in the FY25 Preliminary Budget Has No Impact on Service Delivery

Budget savings are a critical financial management tool that help build a stronger and more resilient city. By using resources more efficiently we save taxpayer dollars, promote government efficiency, and help close budget gaps. There are a variety of savings strategies to achieve these goals:

• Efficiencies: changes to agency practices that save funds by lowering spending, optimizing, or increasing revenue collection
  
  
• Underspending and re-estimates: includes lower than expected spending due to delay or reduced costs and using state or federal grant funds in place of city resources
  
  
• Service reduction: expense savings from scaling back programs, resulting in a decrease of services provided to the public
  
  
• Debt service: lower than expected cost of financing the city’s capital program