New York, NY — Today, New York City Comptroller Mark Levine announced that the City faces a $2.2 billion budget shortfall for FY2026 and a projected $10.4 billion gap for FY2027. This is the first time since the Great Recession that the City faces a budget shortfall of this magnitude this late in the fiscal year, presenting serious challenges for the City’s budget. Today’s analysis expands upon data from December 2025, and as part of the assessment, Comptroller Levine cited the prior Mayoral administration’s budgeting practices as primary contributors to these gaps. “As the state and city budget cycles begin, we find ourselves confronting a $2 billion deficit for the current fiscal year, and a $10 billion...
A Message from the Comptroller Dear New Yorkers, This is the first newsletter of the new year—and the first of my administration. I want to take this opportunity to introduce myself to those who may not yet know me, and to reconnect with the many New Yorkers I have had the privilege to work with over the years. For the past 25 years, I have worked to make New York City more affordable, equitable, and healthy. I began my career as a bilingual...
New York, NY — New York City Comptroller Mark Levine issued the following statement after attending Governor Kathy Hochul’s 2026 State of the State address: “Across the five boroughs, New Yorkers are battling an affordability crisis that is driving our neighbors from the communities they love. From expanding childcare access to expediting the creation of housing and improving public transit, Governor Hochul’s State of the State address lays out a bold agenda to address this crisis head-on. “Expanding childcare access won’t just provide relief to families struggling with the high cost of childcare; it is a mission-critical investment to...
New York, NY — New York City Comptroller Mark Levine announced his appointment of Monte Tarbox as Interim Chief Investment Officer for the Comptroller’s Office’s Bureau of Asset Management (BAM), and the commencement of a nationwide search for a permanent CIO managed by widely respected recruitment firm Korn Ferry. Former CIO Steven Meier stepped down at the end of 2025. Tarbox will be responsible for leading BAM and spearheading Comptroller Levine’s responsibilities as investment advisor and custodian, overseeing the $308.83 billion...
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