The order will designate an existing senior employee in the role at every city agency.
The CSOs will report back to City Hall within 45 days with a plan for how to make their agencies more efficient.
"Delivering public goods requires public excellence. That means a government that respects New Yorkers by using every dollar wisely. By designating a Chief Savings Officer at every agency, we're taking direct aim at waste, cutting through bureaucracy, and making city services work," Mamdani said. "These Chief Savings Officers will help ensure that every dollar we spend is in service of a safer, cleaner, and more affordable city - and that our government meets the standard New Yorkers deserve."
Each city agency will have five days to appoint their CSO and ensure they are empowered with the necessary staff and data to meet the mandate.
The executive order comes one day after Mamdani announced the city was in a $12 billion deficit that he blamed on the Adams administration.
On Wednesday the mayor announced he is calling for a tax hike on the richest residents in the five boroughs.
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