Citywide Savings Plan Should Include Greater Efficiency Savings
The Citywide Savings Program (CSP), an effort by the de Blasio Administration to identify cost-saving or revenue-generating initiatives, continues to fall short. The total five-year savings identified the November 2019 and January 2020 CSPs were $2.4 billion, just 0.6 percent of City-funded spending. More concerning is the lack of efficiency savings, which are savings from changes in agency practices to deliver the same services with fewer resources. Since fiscal year 2016, efficiency savings have averaged just 0.23 percent of City-funded spending. Had New York City committed to achieving efficiency savings of just 1 percent of City-funded spending each year since fiscal year 2015, the fiscal year 2021 budget would be $2 billion less. Average annual budget growth would have been 4.7 percent instead of 5.2 percent.