City
Rainy day fund
Photo: Gycnewyorker / Guan Yu Chen · CC BY-SA 4.0
Takes effect
Right away. The first deposit plan is due May 2027.
On the ballot as
Set Contribution Targets for Rainy Day Fund to Promote Sufficient Budgetary Reserves
Set target amount of money to hold in reserve funds, including rainy day fund, to address unexpected financial hardships in future years, and require development of methodology to calculate contributions.
Photo: Gycnewyorker / Guan Yu Chen · CC BY-SA 4.0
Proposal 5 · New York City Charter
A savings target for the city's rainy day fund.
Sets a goal for the city to save at least 12% of last year's tax revenue for emergencies.
Your vote
Yes
A goal of keeping at least 12% of last year's tax revenue in reserve, and a yearly plan for deposits. Deposits still need approval in the city budget and can be skipped in hard times.
No
No savings target. The rainy day fund stays as it is.
Each side
The case for Yes
A set savings goal pushes the city to put money aside in good years, so services aren't cut when a recession hits.
The case for No
It shifts control over yearly deposits toward the mayor's office, and a 12% goal could be treated as enough when the comptroller has urged 16%.
Takes effect
Right away. The first deposit plan is due May 2027.
On the ballot as
Set Contribution Targets for Rainy Day Fund to Promote Sufficient Budgetary Reserves
Set target amount of money to hold in reserve funds, including rainy day fund, to address unexpected financial hardships in future years, and require development of methodology to calculate contributions.
Sources
NYC Campaign Finance Board · 2026-10
2026 NYC Voter Guide (mailed to every household)
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NYC Votes (NYC Campaign Finance Board)
2026 Ballot Proposals
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League of Women Voters of the City of New York
Proposals on the Ballot in New York City in the 2026 General Election
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NYC Mayor's Office · 2026-07-23
COGE Releases 5 Ballot Proposals and Final Report
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THE CITY · 2026-09-23
What to Know About NYC's 5 Ballot Proposals Ahead of Election Day
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THE CITY · 2026-07-23
Mamdani's Government Efficiency Panel Approves 5 NYC Ballot Proposals
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