The city’s financial reserves surged to over $16 billion by the end of its fiscal year, marking a substantial increase from the previous year’s balance of more than $12 billion. Officials reported the actual year-end cash position exceeded projections by a notable margin, reflecting stronger-than-expected revenue or cost controls. While the full details of how the surplus was achieved remain under review, the figures suggest a period of fiscal growth for municipal finances. The report raises questions about how the city plans to allocate the additional funds amid ongoing budget discussions.
At the close of FY 2026 (on June 30, 2026), the City recorded an end-of-year cash balance of $16.171 billion, compared to $12.229 billion the year prior. The actual year-end balance was significantly ...
