KINGSTON – A Consultant’s analysis of Kingston’s debt places the city in good financial shape in terms of its borrowing.
Mayor Steven Noble said that means the city can continue to work on improving its infrastructure without burdening future generations with debt.
“We have a really low amount of debt compared to our revenue we bring in and our expenses here in the city and compared to a lot of our other municipalities, we have the fifth-lowest debt out of all of our sister cities across New York State,” he said.
In Kingston, debt makes up only about 10 percent of the city’s bond rating and debt service makes up less than 10 percent of the city’s general fund operating budget. Those are both good signs of the city’s financial condition, said Noble.