A new administration is set to take office in City Hall in just two weeks, and on Thursday, Mayor-elect Mamdani announced who will be at the helm of crunching the numbers on his affordability agenda.

Sherif Soliman, the current chief financial officer for the City University of New York, was appointed as the Office of Management and Budget director.

Mamdani made the announcement at the Queens Community House in Flushing, where Soliman's wife, parents and children were among the sea of reporters in the room.

"I am humbled by the trust Mayor-elect Zohran Mamdani has placed in me to take on this important role and work alongside the team to deliver on the affordability agenda. Budgets reflect the values of an administration — they are about innovation and excellence in government. I look forward to the work ahead in building a budget that delivers real wins for working New Yorkers,” said incoming OMB Director Sherif Soliman.

Soliman previously held positions in both the de Blasio and Adams' administration, where he served as the chief police and delivery officer. He was the commissioner of the Department of Finance under the de Blasio administration, where he was responsible for collecting annual revenue of more than $40 billon. He also played a role in the city's response to the COVID-19 pandemic and navigated budgetary challenges that agencies faced during that time.

A recent report from the NYC Comptroller's office revealed that the incoming administration will face a $2.18 billon budget gap for fiscal year 2026. While a report from the Independent Budget Office shows a staggering $380 million deficit.

Asked how he plans to balance this deficit while carrying out Mamdani's affordability agenda?

"We know there are disagreements between the IBO, between the comptroller's office that also came out with the report and with OMB. We look forward to speaking with each of them. I'll be sitting down with Director Jiha and understanding their projections, what they're seeing on the revenue side, what they're seeing, obviously on the expense side. You know, our preliminary budget will reflect the mayor's priorities, and we will have a preliminary budget that's balanced. We had balanced budgets in the city of New York since 1981, and we're not about to shy away from that," said Soliman.