The City of New York just adopted its $112.4 billion budget for Fiscal Year (FY) 2025. The budget includes several restorations and investments inspired by the Center for an Urban Future’s recent research, testimonies, and recommendations, including:
•Restorations to CUNY's Budget and Funding for Key Opportunity Programs
We are encouraged to see Mayor Adams and the City Council restore $64.2 million in funding for CUNY. The FY25 adopted budget fully funds the CUNY Reconnect program at $5.9 million, the highest level to date. CUNY Reconnect has helped more than 33,000 working-age adults with some college credits but no degree to re-enroll at CUNY. CUF's January 2022 report inspired Council Speaker Adrienne Adams to create the program. During our November 2023 testimony before the Council, we recommended that "the City Council continue supporting CUNY Reconnect and work with the administration to renew funding in the upcoming budget.”
The budget also fully restores $10.1 million for the CUNY Accelerate, Complete, and Engage (ACE) program, which helps students at senior colleges complete their bachelor’s degrees on time. Our March 2023 report, Playing NYC's ACE Card, as well as our testimonies in March and June, urged Mayor Adams and the City Council to expand economic mobility by investing in CUNY ACE.
•Establishing Human Services-Focused Fellowship
The city's FY25 budget allocates $500,000 in new funding for a CUNY Social Work Fellows program, echoing a key recommendation from our May 2024 report Solving the Staffing Crisis Facing NYC’s Human Services Organizations. We urged the city to establish a "CUNY Human Services Fellowship" program, designed to build stronger pipelines from CUNY into human services careers and fill positions with high vacancies.
•Restoring Funding for Adult Literacy Programs, Including ESOL
The adopted budget includes a $10 million restoration for adult literacy programs, the city's key funding source ESOL classes. CUF's September 2023 report, Preparing Today's Asylum Seekers to Be Tomorrow's Workforce, revealed unprecedented demand and lengthy waiting lists for ESOL classes. In June, we testified before the Council that the city should “restore and baseline funding for adult literacy programs” to help “more of the newest New Yorkers on the path to economic self-sufficiency.”
•Bolstering the Capacity of CDFIs to Support More Underresourced Entrepreneurs
The City Council also allocated $1 million in new funding to support the operations of the city's community development financial institutions (CDFIs), enabling these crucial nonprofit lenders to serve more underresourced entrepreneurs. Our December 2022 report argued that one of the most effective investments the city can make in strengthening underresourced small businesses is by enabling CDFIs to scale up their operations.
Check out our research and testimonies related to the budget here: https://lnkd.in/eymv__dW