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City finances face new scrutiny

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WBFO News photo by Eileen Buckley
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Buffalo Comptroller Mark Schroeder says City Hall is going to have to change some of its fiscal ways.With city government in the very early stages of preparing the next budget, the comptroller is issuing some warnings about what not to do and what he might do.

He says the city has to stop dipping into fund balances to make budget numbers work, saying profits from city parking operations are being grabbed to make up for the $3 million annual deficit in garbage operations.

"Filling budget gaps with fund balance is unsustainable. We've said it. The rating agencies have said it," Schroeder said.

"I believe it's time to solve some of these long-term problems and we're trying to do the best we can in working with the administration to try to solve some of them."

Schroeder says he may not approve some of the borrowing plans for capital projects if the money can't be spent in the next year or so, with millions sitting around from many years ago unspent.

 

Mike Desmond is one of Western New York’s most experienced reporters, having spent nearly a half-century covering the region for newspapers, television stations and public radio. He has been with WBFO and its predecessor, WNED-AM, since 1988. As a reporter for WBFO, he has covered literally thousands of stories involving education, science, business, the environment and many other issues. Mike has been a long-time theater reviewer for a variety of publications and was formerly a part-time reporter for The New York Times.