12:30 a.m. The final vote was 32-17 (one councilmember was absent). You can watch the full three hour vote here.

12:07 a.m. Shortly after midnight, the budget passed with a majority of 26 votes.

9:41 p.m. Around one hour and 40 minutes after they were scheduled to meet to vote on the budget, the council's stated meeting has begun.

Speaker Johnson opened the meeting noting that "heart-wrenching and impossible choices" had to be made, and that usually the budget vote is met with a celebration of victories won.

"Unfortunately, today is not a day of celebration. We are not in a time of celebration, it is a time of necessity," Johnson said. "Today's budget agreement is one of necessity. The budget negotiations have reflected that fact."

Johnson continued, "It is no secret that I was in favor of at least a billion dollars in spending cuts from the NYPD. This budget does not include that level of cut for the NYPD. It contains an agreement to make some transformative changes at the department, though."

(The adopted budget has been released.)

The City Hall occupiers are watching.

9 p.m.: The City Council's planned 8 p.m. vote on the budget has not begun yet, because the Finance Committee's vote has been delayed.

Richard Buery, who served as a deputy mayor under de Blasio and is now chief of policy at KIPP, expressed his disgust with the budget, calling it "BS":

By 8:50 p.m., the Finance Committee passed the budget, in a 14-3 vote on the main budget bills.

Councilmembers Jimmy Van Bramer, Antonio Reynoso, and Carlos Menchaca have all released statements detailing why they are voting "no" on the budget.

Meanwhile, the City Hall Occupation has swelled:

5:27 p.m. At a press conference announcing the budget agreement, City Council Speaker Corey Johnson said he was personally disappointed that the council could not ensure deeper cuts to the NYPD's budget, and disputed the de Blasio administration's stance that $1 billion was even cut from the NYPD. Johnson pegged the actual cuts at just north of $880 million, because he didn't consider fringe benefits and other items cited by the mayor to be actual reductions.

"This isn't a billion dollars, and I'm not gonna pretend that it is. It's important to be honest," Johnson said. "I'm not saying this is a gigantic victory."

Johnson, who was joined at the press conference by Councilmembers Vanessa Gibson, Laurie Cumbo, and Danny Dromm, said that the council did their best to restore safety net programs that the de Blasio administration had wanted to cut, but also had to be mindful that a budget needed to be passed immediately. Johnson called the process "emotionally draining."

"To everyone who is disappointed we did not go farther, I am disappointed as well," Johnson said about the NYPD's budget. "I wanted us to go deeper. I wanted larger headcount reductions, I wanted a real hiring freeze. But this budget process involves the mayor, who is not budging."

He added, "Many members did not want this level of cuts. Some members, of course, wanted more cuts. I wanted more cuts. I was trying to find consensus."

Cumbo challenged the idea that more budget cuts to the NYPD would enact meaningful change.

"Simply redirecting funding from the NYPD is not going to make our communities safe overnight," Cumbo said.

Johnson was asked about New Yorkers protesting outside the apartment where his partner lives in Williamsburg. The building was recently hit with red paint, allegedly by demonstrators.

"You know, I support people having the right to protest and expressing themselves, and I think social justice movements have been fueled by that. But the vandalism of where my significant other lives and the ringing of his buzzer at all hours of the middle of the night—he's not a public figure. I am," Johnson said. "That vandalism was to a building that was owned by a person of color...That vandalism, that is thousands of dollars to clean up, my partner and I are gonna try and work with that landslord so he's not impacted by this."

Cumbo, whose home has been subject to protests over the NYPD budget, and who herself recently protested outside the home of State Senate candidate Jabari Brisport, accused the Black Lives Matter movement of being hijacked by "gentrifiers in communities of color" who have ignored other issues of systemic poverty and racism.

"Now this movement is not being led by the black community, or black voices," Cumbo said.

In a statement, Andrew Rein, the head of the Citizens Budget Commission, called the budget deal "precariously balanced."

"Reducing police overtime by almost $300 million is highly unlikely given the weak history of overtime management," Rein said. "While savings from collaboration with labor are necessary, the budget’s lack of specificity on the actions needed to produce $1 billion in savings is highly concerning. Although details on the new savings program are forthcoming, agency spending reductions are likely to produce largely one-year savings; failure to implement a program of recurring efficiency savings and aggressive attrition places New York City residents, businesses, and employees at risk of drastic service reductions and layoffs in coming months."

Johnson said he was "confident" that the budget would pass during the stated meeting, though he acknowledged there would be plenty of "no" votes.

The vote on the budget has been pushed back until 8 p.m., from 6 p.m.

Brooklyn Councilmember Brad Lander has already said he will vote "no."

"I approached this year’s budget with simple principles in mind: Divest at least $1 billion from policing to preserve as much investment as we possibly can in education, youth, and social services. Prioritize public health to get us through the pandemic. Invest in a just recovery. And take a smart, long-term approach to our city’s economic and fiscal health," Lander said in a statement.

"The budget that the City Council is being asked to approve today does not meet those principles. So I will be voting no."

Protesters are still occupying City Hall Park, demanding deeper cuts to the police department, despite the budget agreement:

2 p.m. Amid growing demands to divert money from the NYPD's budget, and a massive pandemic shortfall that threatens the livelihood of thousands of city employees, the New York City Council and Mayor Bill de Blasio have reached an agreement on a $88.1 billion budget that they say will move $1 billion in NYPD funding to social services.

Mayor de Blasio told reporters on Tuesday afternoon that the $1 billion in cuts to the NYPD would mainly come from shifting school safety agents from the NYPD to the Department of Education; slashing $296 million from the current police overtime budget of $523 million; and not hiring the July class of 1,163 NYPD cadets.

"People want to see our society progress. This is a real world way forward," de Blasio said. "Are there gonna be critics on all sides? Of course. But I'm convinced this is real change."

The 50 members of the City Council were supposed to vote on a budget agreement on Tuesday morning, but that vote was postponed until 6 p.m. amid ongoing negotiations. De Blasio said that around 1,600 municipal positions would be eliminated through attrition, but that layoffs were not immediately forthcoming. However, if the city doesn't receive additional help from the federal government, or the municipal unions can't agree on ways to cut costs, as many as 22,000 jobs are at stake in October.

The mayor was asked repeatedly how shifting costs from the NYPD to the DOE constitutes "savings," and how he plans on enforcing the NYPD's overtime cap given that the administration has repeatedly failed to make good on that very same promise in previous years (last year alone the NYPD exceeded their OT budget by almost $130 million). De Blasio dismissed these concerns, and insisted that the NYPD is "well-managed."

The mayor also confirmed that the NYPD, unlike the DOE and other city agencies, would not undergo a hiring freeze, and that the police department would hire the next academy class in October. "I know there's a lot of people anxiously waiting to join the NYPD, I'm sorry that circumstances have forced this on us," de Blasio said. The NYPD's Counterterrorism budget will also be unaffected.

Brooklyn Councilmember Stephen Levin said that the council's version of the budget insisted on a hiring freeze for the NYPD, something Public Advocate Jumaane Williams has also demanded, but that the mayor wouldn't budge.

“We really wanted to do that, that was something in our original proposal. We think it’s the right thing to do,” Levin said. “De Blasio refused...We pushed as hard as we could to do that. We were unable to.”

He added, "I don’t think anybody's doing a victory dance.”

Doug Turetsky, the chief of staff at the City's Independent Budget Office, said that while his office has not analyzed the specific details of the NYPD's reshuffling, "big picture, the 'smoke and mirror' and 'sleight of hand' metaphors are basically apt."

"Canceling one or two academy classes will get you savings over time through attrition. The transfer of school safety agents back to DOE just means DOE no longer has to shift about $300 million to NYPD each year. The other money they’re associating with it, I guess is pension and health costs. But those were never in the NYPD budget anyway—that stuff is carried centrally for most all city agencies," Turetsky wrote in an email. "When they hired the additional 1,300 cops in 2015 it was supposed to come with a cap on city-funded overtime."

De Blasio said that $430 million in "cuts" to the NYPD would go to summer youth programming, education, and family and social services, while another $530 million in NYPD "capital" will go to NYCHA and parks rec centers, and a broadband expansion in public housing.

The budget agreement also cuts hundreds of millions from the DOE, and slashes $65 million from the Fair Fares budget, a program that gives low income New Yorkers a half-priced MetroCard that the mayor resisted for years. De Blasio defended the cuts as a "right-sizing," given the drop off in MTA ridership due to the pandemic. [Update: Speaker Johnson insisted that the drop in funding to Fair Fares isn't a cut, only an adjustment based on new post-pandemic ridership figures, and said that anyone who wants to register for the program can.]

"This budget cut is a blow to a program that only fully launched earlier this year after a historic coalition emerged behind it and Council Speaker Corey Johnson became its strongest champion," said Danna Dennis, a community organizer with the Riders Alliance, the group that advocated for Fair Fares. "While ridership is down now, it is returning and transit remains absolutely essential to frontline and returning workers."