Poughkeepsie to develop plan to reduce deficit

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

POUGHKEEPSIE – The Poughkeepsie
deficit is down to around $11 million when an anticipated $759,000 surplus
in 2017 is applied, but even with yearly surpluses, wiping out the deficit
would take years.
As a result, Mayor Robert Rolison said they will take a different approach.
“We are going to be releasing a deficit reduction plan shortly, which is going to outline the steps the city can think about taking to address the deficit in a more comprehensive manner,” the mayor said. “It would take you too long to get that deficit down, because until we do that we can’t establish a fund balance, which we currently don’t have because we have a negative fund balance and we are hamstrung by that.”
If the city didn’t have a deficit, it would have increased its fund balance by about $1.6 million over the last two years, Rolison said.