Nineteen candidates were given matching funds for their 2025 campaigns but Adams was not one of them.
The board rarely gives public comment as to why a candidate is not getting funds but they made a rare exception.
The board chair said it's in the public interest that he speaks out about the reasoning behind the decision.
"After thoroughly reviewing all available information, including the details of the indictment of Mayor Adams, the board has determined that there is reason to believe the Adams campaign has engaged in conduct detrimental to the matching funds program in violation of law, including the campaign Finance Act and board rules," Frederick P. Schaffer, board chair, said.
The "matching funds program" works like this - For every dollar you give to a campaign, the city matches it with another eight dollars in taxpayer funds. So a $250 donation quickly turns into $2,000.
It's a way to level the playing field for every day New Yorkers that don't have rich corporate backers to run for office. Not receiving the funds can be a major blow to a campaign.
Eyewitness News has reported about how the mayor has not tied-up financial loose ends from his last campaign.
We obtained the finance board draft audit of the mayor's 2021 campaign expenses.
It shows Adams' campaign failed to document more than 2.2 million dollars in expenses.
The board requested more documents involving expenses ranging from TV ads, to consulting contracts, to car repairs.
The finance board on Monday said his campaign has failed to hand over those documents.
"I overcome obstacles like every day New Yorkers do," Mayor Adams said about the decision. "We are going to work with the campaign finance board to answer any questions they have."
The board said it took into account the mayor's federal indictment in making the decision.
President-elect Donald Trump also weighed in on Adams, who is facing federal fraud and corruption charges. Asked whether he would consider pardoning Adams, Trump said, "Yeah I would."
"I think that he was treated pretty unfairly," Trump said, while at the same time acknowledging he doesn't "know the facts."
Adams has been accused of accepting flight upgrades and other luxury travel perks valued at $100,000 along with illegal campaign contributions from a Turkish official and other foreign nationals looking to buy his influence. He has pleaded not guilty. Multiple members of his administration have also come under investigation.
The last time the two spoke, according to Adams, was when the president-elect spoke at an election rally at Madison Square Garden.
"The only thing we talk about is improving the city. The city that I love and the city that he loves and the city that the New Yorkers love. That's the only conversation we have - how to improve the city," Adams said.
Meanwhile, the mayor's chief advisor Ingrid Lewis-Martin, a woman known for getting things done at city hall, is the latest to abruptly resign amid another grand jury probe.
Meanwhile, Adams maintains his innocence.
"I gotta do my job and I have an attorney that is going to look at every avenue to ensure I get justice. I have done nothing wrong," he said.
The board approves the use of funds numerous times a year, so this situation could change in the future.
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