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New York City Office of the Comptroller
06/17/2026 | Press release | Distributed by Public on 06/17/2026 10:12
Comptroller Levine and Mayor Mamdani Released the Following Statement Regarding Amending the City Charter to Strengthen New York...
Comptroller Levine and Mayor Mamdani Released the Following Statement Regarding Amending the City Charter to Strengthen New York City's Rainy Day Fund
June 17, 2026
"The Rainy Day Fund exists because New Yorkers voted to give our City a tool to protect essential services during economic downturns and emergencies. It helps safeguard our schools, public safety, sanitation, housing, health care and social services when times get tough. Years after its creation, the fund still lacks formal rules governing it - and that needs to change.
"We need a stronger, more predictable approach to saving for our future. New Yorkers deserve confidence that their government is prepared not only for today's challenges, but for tomorrow's as well.
"That is why we support the serious consideration by the Charter Revision Commission on Government Efficiency to amend the Charter to give the Rainy Day Fund a formal funding structure, including considering a clear target, and responsible rules for when reserves can be used. Building reserves is one of the most responsible steps government can take. It allows us to weather economic shocks without forcing working people to bear the cost through cuts to the services they depend on."
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New York City Office of the Comptroller published this content on June 17, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on June 17, 2026 at 16:12 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]