Average Daily Cost of Running NYC is $299.9M
Based on New York City’s Fiscal Year 2022 (FY22), the average daily cost of running New York City is $299.9 million. The results generated by the New York City Independent Budget Office (IBO) at the request of the head of the New York City Council Finance Committee represent one way to calculate the daily cost of running the city, since there are many ways to break down the budget. Among the 13 categories created, Education has the highest daily spending average of $89.8 million, while the Libraries category spending is the low at $1.2 million. As part of the calculation, purchases between city agencies were also included.