POUGHKEEPSIE – The financial outlook for the City of Poughkeepsie is improving, according to City Administrator Marc Nelson. The city has been burdened by an enormous deficit of $13.2 million when Mayor Robert Rolison took over.
Nelson said a recent audit, being released next week, shows a “significant drop in the deficit.” The city administrator announced that the deficit is down to $7.1 million.
That reduced shortfall is attributed to several factors, according to Nelson. “Mayor Rolison’s administration has put in place several initiatives that have substantially reduced the deficit,” said Nelson. A debt management plan was put into place under the mayor. The plan set borrowing limits lower than the state limits and forced the city to make purchases within the new lower limits.
Nelson said that the plan has been effective and credits the city’s workforce for considering costs and savings when making purchases.
The transportation consolidation plan which merged the city’s bus routes with Dutchess County has saved taxpayers more than $400,000, attributing to the deficit reduction.
Nelson pointed out that Rolison’s 2020 budget, released last week, has a $1 million reduction in debt service cost, which is the interest that taxpayers pay for bonding debt.
