NEW YORK CITY (PIX11) – New York City agencies proposed $1.7 billion in savings to help fill the city’s massive budget gap, reaching Mayor Zohran Mamdani’s target, officials said Wednesday.
The administration approved just over $200 million of those savings, and must review and approve the rest, according to Sherif Soliman, director of the Mayor’s Office of Management and Budget.
Discover more local reporting on our homepage
Approved savings include canceling a Department of Social Services contract with McKinsey worth $9 million, reducing overtime at Health + Hospitals, and canceling the Taxi and Limousine Commission’s $20,000 Slack subscription.
The mayor in January said the city was facing a financial crisis worse than the Great Recession. Mamdani initially estimated the gap was around $12 billion between 2026 and 2027, a number that has since dropped to $5.4 billion, assuming large agency savings and additional state relief…