New York City Mayor Eric Adams introduced an independent group of experts that will advise the city on budgetary matters.
Referred to as the Budget Advisory Panel, the team consists of financial experts that collectively hold a wide range of experiences in federal, state, and city government, as well as in the private sector, according to the mayor.
The aim of the panel is to assist the city with identifying ways of preserving critical services for New Yorkers, finding efficiencies and cost saving opportunities, as well as maximizing federal and state aid locally.
“Throughout New York City history, those who love and care about our city’s future have come together during moments of crisis to help be a part of the change. The formation of this independent Budget Advisory Panel is one of those moments,” said Adams.
Led by former U.S. Treasury Department official Antonio Weiss, the panel of experts include Adam Blumenthal (NYC’s first deputy comptroller), Abby Joseph Cohen (former member of the White House Innovation Advisory Board), Carol O’Cleireacain (former budget director of the NYC Department of Finance), Martha E. Stark (former commissioner of the NYC Department of Finance), and Robert Steel (previously served as NYC’s deputy mayor for economic development).
“The Adams administration has made real progress in addressing the city’s budget challenges, which were made worse by the migrant crisis. But there is more to do,” said Weiss.
Prior to his announcement, Adams said that the panel had been meeting with city, state, and federal officials, along with other stakeholders, to assess NYC’s fiscal situation. The panel will share its findings and recommendations with mayor and the public, according to the mayor.
