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

“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.” (05:48–05:53)

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.