Adams made the announcement with City Council Speaker Adrienne Adams on Tuesday morning at PS 184 on the Lower East Side.
Schools with declining enrollment -- which account for 15% of city schools -- are getting a chunk of that funding.
The additional funding will protect long-term programs previously funded with temporary federal stimulus dollars that are set to expire.
Mayor Adams announced $32 million will help maintain teacher recruitment, restorative justice programming, digital learning, tutoring and computer science programs.
Another $75 million will help city schools with declining enrollment.
Schools bound for budget reductions will now receive the same level of funding they were allocated in the mid-year school budget adjustment. This accounts for 15% of all city schools.
The Adams administration also announced it will restore $20 million for the Summer Rising program to return for Friday sessions and extend the day from 4 p.m. until 6 p.m. for middle school students.
These programs connects 110,000 elementary and middle school students with fun, academic programming through the summer.
"We know that when we invest in our children's education, we invest in our city's future. That's why we are giving back to our young people and to their working parents," said Mayor Adams. "We know that it takes a city to raise a child, and today, we are giving our young people a chance to learn and grow their talents and imagination by investing in their future."
The United Federation of Teachers reacted to the announcement by saying:
"This is progress. These are programs and initiatives that make a difference for our students and our school communities."
The announcement comes as part of ongoing budget negotiations with the City Council.
"When schools can count on consistent aid receiving no less than what was provided in the previous year, they can adequately plan," Adrienne Adams said.
Adams and the Council continue to negotiate a budget for the 2025 fiscal year, which begins July 1. They must reach a deal for a final spending plan by June 30.
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