City budget deficit grows to almost $13 million

Mayor Robert Rolison says the city’s finances have been dealt another blow.

Flanked by his finance commissioner, city manager and city finance consultant, Rolison announced Monday that the audit report for fiscal 2015 contained a $1.9 million deficit. Added to the current budget woes, that means the city has close to a $13 million deficit.

Rolison, in his first year in office, stopped short of blaming the previous administration but did repeat his contention that unrealistic revenue projections in previous budgets contributed to the current financial crisis.

The mayor has a $3 million gap in his proposed 2017 budget, which includes a 16.5 percent tax levy increase and a proposal to eliminate five bus drivers by merging the city’s bus system with the one run by Dutchess County.

The budget also includes a payment of

The city’s bond rating was downgraded recently as a result of the fiscal woes.

$225,000 to be applied to the multimillion-dollar deficit. The mayor conceded the amount is modest but said he is doing everything possible to improve the city’s finances.

The city’s bond rating was downgraded recently as a result of the fiscal woes.

The mayor also struck an optimistic note when he said $1 billion worth of development in the city either is in the planning stages or already underway, which will help alleviate some of the burden on current taxpayers.

Rolison’s 2017 budget is being reviewed by the Common Council.