Bloomberg and City Council Speaker Christine Quinn reached an agreement late Thursday on the city budget for the fiscal year that begins July 1.
The spending plan restores about $300 million in funding that Bloomberg had proposed cutting in order to plug budget gaps.
Part of that is due to expected cuts in state funding. The state is nearly three months late on its budget, but early proposals in January envisioned cutting aid to New York City by as much as $1.3 billion.
The city still had to make about $1 billion in cuts. Those include closing some senior centers and eliminating thousands of jobs.