Zohran Mamdani: “More than $7.5 billion were left unaccounted for.”

“Much of this gap came in the form of significant under budgeting for major expenses, the prior administration ignored projections that estimated costs would rise across six foundational city services like cash assistance, rental assistance, and shelter costs. More than $7.5 billion were left unaccounted for. The consequence was an enormous deficit within our budget. Beyond those six areas, there are additional major unfunded needs the city must fulfill, more than $6.6 billion in additional unfunded needs and state mandates, the most sizable of which are detailed on the screen.” (05:21–05:25)

This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.