Director Chafee on energy cost increases and budget accuracy under Mamdani administration
Chafee reports the executive budget increases building energy funding by $376 million in 2027 rising to $477 million by 2030, bringing total energy costs to $1.3 billion. She notes the administration continues improving budget accuracy and IBO looks forward to analyzing chief savings officer proposals and the new Commission on Government Efficiency.
Meanwhile, with the ongoing war in Iran, the resulting economic uncertainties, and sharply rising energy costs, the executive budget increases funding for power and energy by $376 million in 2027,
rising to $477 million in 2030.
This brings the total citywide budget for building energy costs up to $1.3 billion.
So finally, IBO again notes that the Mondami administration continues its practice of more accurately reflecting the city's expenses.
Given the challenges ahead, IBO also looks forward to being able to thoroughly analyze the proposals from the chief savings officers, as well as the work of the Commission on Government Efficiency, COGE, the new Charter Revision Commission.
Thank you very much, and we're happy to take your questions.