Mayor Eric Adams and City Council Speaker Adrienne Adams shook hands on a nearly $116 billion city budget agreement at City Hall early Friday evening — a spending plan that looks to be filled with goodies for both sides of City Hall.

In a break from years past, defined by Mayor Adams’ wide-ranging spending cuts to account for expenses incurred by the migrant crisis, the Fiscal Year 2026 budget agreement is flush with new initiatives and recurring spending on a slew of city programs. City Council Finance Chair Justin Brannan said the plan adds billion in new spending from the mayor’s January preliminary budget proposal.