Executive Plan PEG Program FY20-FY21 Total: $2.7 Billion New York City Council Finance Division May 8th, 2020 Significant PEGs in FY20-FY21: $1.4 Billion FY20-FY21 Funding to Address Budget Gap FY20-FY21 Headcount Reduction *Includes $200M in Revenue Re-estimates *Achieved by vacancy reductions, no layoffs
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Executive Plan PEG ProgramFY20-FY21 Total: $2.7 Billion
New York City Council Finance Division May 8th, 2020
Significant PEGs in FY20-FY21: $1.4 BillionFY20-FY21 Funding to Address
Budget Gap
FY20-FY21 Headcount Reduction
*Includes $200M in Revenue
Re-estimates
*Achieved by vacancyreductions, no layoffs
PEG as % of Agency’s City Tax Levy Budget
FY21 PEG Overview: $1.5 Billion
FY21 PEG Overview by Category
• FY21 Executive Financial Plan utilizes more reserves than PEGs to close FY20-21 budget gaps.
• Additional PEGs are likely if State cuts aid to localities.
• The FY21 Executive Budget does not accurately allocate federal aid to agencies. Federal aid is likely to adjust according to spending.
Budget Concerns
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