Mayor, City Council reach agreement on most costly budget yet

Posted: Updated:
BROOKLYN -

Mayor Bill de Blasio has reached an agreement with the City Council on the budget for 2018 ahead of schedule.

The announcement of the more than $85 billion budget, which is budget is one of the earliest and most costly city budget ever passed on record, was announced Friday night.

Some of the highlights in the budget include over $105 million for universal physical education, $110 million toward public library improvements, property tax exemptions for veterans who served during a war that will average a little over $440 a year, $9 million to help expand the city’s summer youth employment program and more than $10 million to expand the free school lunch program.

"We understand what's happening in our nation, we understand the challenges in anything from Washington, D.C., so we have to both achieve those strategic investments while constantly being prepared for what may lie ahead," says Mayor de Blasio. "If you annualize that for the fiscal ‘18 budget, our reserves will total $5.65 million, by far the highest the city of New York has ever had."

The mayor stressed the importance of building the city's savings in the budget agreement because of what he call the uncertainty from the Trump administration.

News 12 has recently updated to a brand new version of our iOS and Android apps.  If you don't have auto updates enabled on your devices, head to the App Store or Google Play Store to update to the latest version.  This will ensure you keep getting up-to-date local news, traffic and weather information.

  • Brooklyn PoliticsPoliticsMore>>

  • Residents call Schumer in lieu of in-person town hall

    Residents call Schumer in lieu of in-person town hall

    Monday, July 2 2018 10:25 PM EDT2018-07-03 02:25:11 GMT
    A scheduled town hall meeting with U.S. Sen. Charles Schumer had to be held over the phone after the politician said had trouble getting to Brooklyn.A scheduled town hall meeting with U.S. Sen. Charles Schumer had to be held over the phone after the politician said had trouble getting to Brooklyn.

    A scheduled town hall meeting with U.S. Sen. Charles Schumer had to be held over the phone after the politician said had trouble getting to Brooklyn.

    A scheduled town hall meeting with U.S. Sen. Charles Schumer had to be held over the phone after the politician said had trouble getting to Brooklyn.

  • Activists rally for speed cameras at Sen. Golden’s office

    Activists rally for speed cameras at Sen. Golden’s office

    Thursday, June 28 2018 5:34 PM EDT2018-06-28 21:34:27 GMT
    Activists say they are spending a full 24 hours outside of state Sen. Marty Golden's office in Bay Ridge to demand his support for speed cameras in front schools across the city.Activists say they are spending a full 24 hours outside of state Sen. Marty Golden's office in Bay Ridge to demand his support for speed cameras in front schools across the city.

    Activists say they are spending a full 24 hours outside of state Sen. Marty Golden's office in Bay Ridge to demand his support for speed cameras in front schools across the city.

    Activists say they are spending a full 24 hours outside of state Sen. Marty Golden's office in Bay Ridge to demand his support for speed cameras in front schools across the city.

  • Justice Kennedy retiring; Trump gets 2nd Supreme Court pick

    Justice Kennedy retiring; Trump gets 2nd Supreme Court pick

    Wednesday, June 27 2018 2:32 PM EDT2018-06-27 18:32:59 GMT
    Photo Credit: Eric Thayer/Getty ImagesPhoto Credit: Eric Thayer/Getty Images

    Supreme Court Justice Anthony Kennedy announced his retirement Wednesday, giving President Donald Trump the chance to cement conservative control of the high court.

    Supreme Court Justice Anthony Kennedy announced his retirement Wednesday, giving President Donald Trump the chance to cement conservative control of the high court.

sorry to interrupt
your first 20 are free
Access to News 12 is free for Optimum, Comcast®, Spectrum Networks® and Service ElectricSM customers.
Please enjoy 20 complimentary views of articles, photos, and videos during the next 30 days.
you have reached your 20 view limit
Access to News 12 is free for Optimum, Comcast®, Spectrum Networks® and Service ElectricSM customers.
Please login or create an account to continue enjoying News12.
Our sign-up page is undergoing maintenance and is not currently available. However, you will be given direct access to news12.com while we complete our upgrade.
When we are back up and running you will be prompted at that time to complete your sign in. Until then, enjoy the local news, weather, traffic and more that's "as local as local news gets."