(ALBNY, NY) — The city of Albany is stressed out financially. That\u2019s the determination from the New York State Comptroller\u2019s office, which placed the city in the category of \u201csignificant financial stress.\u201d That comes after a $22-million budget shortfall for this year and a projected $33-million deficit for next year.<\/p>\n
The comptroller\u2019s office said Albany is second-worst in the state. Only New Hempstead fared worse in the office\u2019s Fiscal Stress Monitoring report.<\/p>\n
\u201cIt means they’ve depleted their fund balance,\u201d said Ed Burgess, director of municipal audits for the comptroller. \u201cThey don’t necessarily have those rainy day reserves anymore.\u201d<\/p>\n
Should neighbors be concerned about diminished services or other affects?<\/p>\n
\u201cThe city has to consider everything, right?\u201d Burgess said.<\/p>\n
He said it will be up to city leaders to figure out a way out of the issues.<\/p>\n
\u201cAlbany has a lot of a lot of discussions to have, a lot of decisions to make,\u201d he said. \u201cTheir mayor is working on those issues.\u201d<\/p>\n
The city may get some help from the state. Mayor Dorcey Applyrs asked the comptroller\u2019s office to review her latest budget proposal. Burgess said that is underway and the state could offer tweaks and suggestions to help.<\/p>\n
Applyrs\u2019 office said she is working on fixes, saying the rating \u201c… illustrates the reality of the fiscal outlook the Applyrs Administration has been laser focused on improving, and the importance of the work the Administration is doing every day to right the ship\u201d<\/p>\n
Zipporah Hommel, spokesperson for Applyrs said, \u201cMayor Applyrs will present a balanced 2027 Proposed Budget on Oct. 1 that prioritizes public safety, maintains services to residents, and strengthens economic vitality.\u201d<\/p>\n
View the report here: https:\/\/www.osc.ny.gov\/files\/local-government\/fiscal-monitoring\/2025\/pdf\/2025-munis-stressed.pdf?utm_medium=email&utm_source=govdelivery<\/p>\n","protected":false},"excerpt":{"rendered":"(ALBNY, NY) — The city of Albany is stressed out financially. That\u2019s the determination from the New York…\n","protected":false},"author":2,"featured_media":357551,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[9,11,10,49,51,50],"class_list":["post-357550","post","type-post","status-publish","format-standard","has-post-thumbnail","category-new-york","tag-new-york","tag-new-york-headlines","tag-new-york-news","tag-new-york-state","tag-new-york-state-headlines","tag-new-york-state-news"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/357550","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=357550"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/357550\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/357551"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=357550"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=357550"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=357550"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}