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Ballot question

New York City Ballot Question 5: Reserve targets for the rainy day fund

On the ballot in
City of New York
Vote
Yes or no
Election
Nov 3, 2026

The question, as printed on the ballot

Proposed Charter Amendment: 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. “Yes” requires Mayor to develop methodology for calculating deposits to rainy day fund, with deposits subject to approval in the City budget. “No” leaves laws unchanged, with no reserves target.

A “Yes” vote means

A yes vote sets a target for City reserve funds and requires a method for rainy day fund deposits, with deposits subject to approval in the City budget.

A “No” vote means

A no vote leaves the laws unchanged, with no reserves target.

Official plain English statement

This proposal would set a target amount of funds for the City to maintain in the revenue stabilization fund (also known as the “Rainy Day Fund”) and other reserve funds. The Mayor’s Office of Management and Budget would be required to publish a methodology regarding deposits into the Rainy Day Fund. Deposits would be required in accordance with that methodology, subject to appropriation through the annual budget process. The methodology would be subject to a 30-day public comment period and a public hearing. The City could not withdraw more than 50 percent of the amount of the fund except when the Mayor certifies that there is a compelling fiscal need.

Question wording from the Board of Elections' Appendix A and its contest list; the plain-English text is the opening paragraph of the official abstract (Appendix B), which goes on to describe current law, the proposed changes and when they take effect.

Sources

The question and plain English statement are copied word for word from official election materials. The Gist does not take a side on ballot questions.