While New York City’s Adopted Fiscal Year 2023 Budget totals $101.1 billion on paper, CBC's new blog, Big Budget: NYC’s Adopted FY 2023 Budget—Spending and Growth, finds that actual spending obligations are $104.7 billion, excluding reserves and adjusting for prepayment of obligations in fiscal year 2022. While a helpful fiscal management tool, the City’s routine practice of prepaying bills to “roll” money from one year to the next distorts spending obligations in a given year and trends over time. CBC's analysis shows that:

• The fiscal year 2023 adopted budget totals $104.7 billion;
• Fiscal year 2023 adjusted City Funds spending increases 7.7 percent from fiscal year 2022, to $77.6 billion;
• Fiscal year 2023 All Funds spending decreases 3.7 percent from fiscal year 2022 as federal COVID-related stimulus funds wind down;
• Total federal aid decreases by $9.9 billion from fiscal year 2022 to fiscal year 2023; and
• $1.8 billion was added to the Fiscal Year 2023 Executive Budget during the budget adoption process.