572,786 New Yorkers voted early through Saturday. Question 5 asks how big the city's rainy-day fund should be
Saturday was the busiest day of early voting so far. On the back of the ballot, a charter question would set a savings target for the city's reserve fund, a fund Council leaders spent the spring fighting to keep untouched.
New York City voters checked in 572,786 times at early voting sites through Saturday, according to the Board of Elections' unofficial count. Saturday alone drew 104,683 voters, the most of any day so far. Early voting ends today, Sunday, Nov. 1. On Tuesday, polls are open 6 a.m. to 9 p.m.
Why it matters to residents: besides races for governor, attorney general, Congress and the state legislature, every city ballot carries five proposed changes to the City Charter. The last of them, Question 5, deals with the city's savings for hard times.
Advertisement
The early vote by borough
Cumulative check-ins through Oct. 31, from the Board of Elections:
- Brooklyn: 177,271
- Manhattan: 160,045
- Queens: 135,095
- Bronx: 57,167
- Staten Island: 43,208
That is up from 400,137 through Thursday, when we last checked. Turnout on the first day was 86,215; it fell to 43,110 on Thursday before rising again Friday and Saturday. The figures are unofficial and count people who checked in, not ballots counted.
What Question 5 would do
The proposal would set a savings target for the city's Revenue Stabilization Fund, often called the rainy-day fund, at 12% of the prior year's tax revenue, City Limits reported. The fund holds about $1.7 billion today, according to City Limits. The mayor's budget office would have to produce a plan by May 2027, in consultation with the comptroller and the public, for when and how much the city puts in. Contributions would no longer be required once the target is reached.
Advertisement
The Commission on Government Efficiency, convened by the Mamdani administration, drafted all five questions. Its executive director, Ann Cheng, told City Limits the target would work toward long-term fiscal stability. The Citizens Budget Commission and Reinvent Albany urge a "no" vote, arguing the measure does too little to strengthen reserves. City Limits noted that an April report from Comptroller Mark Levine suggested a 16% reserve target.
What our records add
The Council has no vote on charter questions; voters decide them. But the fund was at the center of this year's budget fight, and Council leaders went on the record about it.
The administration planned to tap it. At the Council's March 11 Finance Committee hearing, the Independent Budget Office flagged that the mayor's preliminary budget used $980 million from the rainy-day fund to balance the 2026 budget, with a plan to replace it in 2028.
Advertisement
The Finance chair said it had never been touched. The day before, at the March 10 stated meeting, Finance Chair Linda Lee said the Council's analysis showed the city could protect services without drawing down the fund, and that the fund "has never been drawn down," including during COVID.
The Speaker wanted money set aside. At the June 11 budget vote, Speaker Julie Menin said the Council wanted the adopted budget to put aside a meaningful amount for rainy-day reserves, citing uncertainty ahead.
Question 5 would not decide whether the city may spend from the fund; it sets a savings goal and a planning requirement. Our earlier guide explains all five questions and how some would change the Council's role, including Question 3, which would remove Council approval of city office leases.
What's next
Voters must go to their assigned Election Day poll site on Tuesday, which may differ from their early voting site. The Board of Elections has a poll site lookup. Unofficial results will be posted on election night. If Question 5 passes, the budget office's contribution plan would be due by May 2027.