Communication from the Mayor - Submitting the Preliminary Certificate, setting forth the maximum amount of debt and reserves which the City, and the NYC Municipal Water Finance Authority, may soundly incur for capital projects for Fiscal Year 2027 and the ensuing three fiscal years, and the maximum amount of appropriations and expenditures for capital projects which may soundly be made during each fiscal year, pursuant to Section 235 of the New York City Charter.

Summary

This document is a Preliminary Certificate from the Mayor regarding the City's debt and capital expenditures. It outlines the maximum amounts of debt and reserves the City, the New York City Municipal Water Finance Authority, and the New York City Transitional Finance Authority may soundly incur for capital projects for Fiscal Year 2027 and the subsequent three fiscal years (2028-2030).

Key Figures:

• Maximum Annual Debt Issuance/Expenditure:
  • 2027: $18,228 Million
  • 2028: $18,933 Million
  • 2029: $18,890 Million
  • 2030: $18,356 Million
• Estimated Debt-Financed Expenditures:
  • City & TFA Debt: 2027 ($14,733M), 2028 ($15,443M), 2029 ($15,542M), 2030 ($15,138M)
  • Water Finance Authority Debt: 2027 ($3,495M), 2028 ($3,490M), 2029 ($3,348M), 2030 ($3,218M)
• Maximum Annual Appropriations/Expenditures for Capital Projects (funded by City, TFA, or Water Authority debt):
  • 2027: $25,693 Million
  • 2028: $17,866 Million
  • 2029: $17,131 Million
  • 2030: $16,904 Million

Citizen Impact

This certificate sets preliminary limits on the City's borrowing for capital projects over the next four fiscal years. It indicates the scale of future investment in infrastructure and public works, which will be funded through debt, potentially impacting future city budgets and services.

Confidence

high