The Adams Administration Has Achieved More Than $4.8 billion in Budget Savings Over Fiscal Years 2023 and 2024 Since June 2022

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

  • Debt service: lower than expected cost of financing the city’s capital program

Program to Eliminate the Gap - Summary by Agency

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