Rolison, left, with former city finance commissioner William Brady, now a consultant
POUGHKEEPSIE – Mayor Robert Rolison announced on Monday that Poughkeepsie’s finances have been dealt another blow.
Flanked by his Finance Commissioner, City Manager, and City Finance Consultant, Rolison announced today that the audit report for the 2015 fiscal year contained a $1.9 million deficit. When combined with the current budget woes, the City of Poughkeepsie has close to a $13 million deficit.
Rolison, in his first year, stopped short of blaming the previous administration but did repeat his contention that unrealistic revenue projections in previous budgets have contributed to the current financial crisis. The mayor has a $3 million gap in his proposed budget that includes a 16.5 percent tax increase and a proposal to eliminate five bus drivers by merging the city bus system with one run by Dutchess County. The budget also includes a payment of $225,000 to be applied to the multi-million-dollar deficit. The mayor conceded that the amount in modest but he is doing everything possible to improve the city’s finances. The city’s bond rating was recently downgraded as a result of their monetary woes.
The mayor remained cautiously optimistic during his address by announcing that there are one billion dollars of development either in the planning stages or already underway which will help alleviate some of the financial burden on the current taxpayers.
Rolison’s proposed 2017 budget is being reviewed by the Common Council.
