New York’s second-largest city has been dealing with some pretty serious financial issues over the last couple of years. It was just over a year ago when city officials used a large chunk of the federal COVID-19 stimulus funds to plug some holes in the city’s bank account. Now with those funds gone, there are more issues that need to be solved.
Not only is Buffalo dealing with a reduction in its credit score, but it has raised fees in all sorts of places to try to make up the shortfall.
While there are tons of proposals to increase revenue, until those materialize, the city still has to find millions of dollars in funds in order to be able to pay all of its bills this year. Unfortunately, there is some major disagreement on how much money is needed to pay those bills.
Government Officials Can’t Agree On How Much Buffalo’s Budget Deficit Is
Over the months, there has been a major dispute between the Mayor’s office, the Buffalo Common Council, and the City Comptroller about the city’s budget and exactly how short the government will be when the end of the fiscal year comes in June. While there is no dispute that there is a deficit, the is a big dispute on how big the deficit is…