City of Poughkeepsie projects 2016 surplus

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on email
Email
Share on print
Print

POUGHKEEPSIE – The City of Poughkeepsie is projected to end 2016 with a surplus of $544,000. When final accounting is complete, Mayor Robert Rolison said it shows “the impact that cost-containment and careful monitoring of expenses throughout the year has, and why we should not transfer savings from any particular expense line to some other expense category mid-year.”
He was referring to the common council’s proposal to use employee benefit surplus money to fund the city’s buses through the end of the year. He has provided just enough money to keep them going through June 30 at which time he would like Dutchess County to assimilate the service into the county’s LOOP system.
The favorable 2016 result will reduce the city’s cumulative general
fund deficit from $13 million to $12.5 million and Rolison said if the
county takes over the bus system, the city should save another $500,000
annually, bringing the total savings to $1 million.
“Fiscal stabilization is a gradual process, but it’s the key to much of what is so important to us all, from public safety to clean streets and thriving businesses,” the mayor said.