Office of Emergency Management spokesman Chris Gilbride issued the figure Tuesday. He said the total includes the response to the storm, recovery and damage to public infrastructure.
He says each of the city's five boroughs met the threshold necessary to qualify for money from the Federal Emergency Management Agency and from the state.
Together, state and federal funds are expected to cover more than 87 percent of the costs. That includes the expenses that went into setting up shelters, and overtime pay for city employees.
Gilbride says $55 million is a preliminary figure and the total is likely to expand.