ALBANY — State Comptroller Thomas DiNapoli’s office says the city will face a $26 million budget deficit by the end of the year and that Albany’s approach to its finances has not been rooted in reality for years.
In a 7-page report issued Wednesday afternoon, the Office of the State Comptroller’s Division of Local Government and School Accountability found that city officials vastly overestimated income from various civic revenue streams in its 2025 and 2026 city budgets, and in one case, allocated $3 million in pandemic funds that simply did not exist.
DiNapoli’s review raises this year’s deficit by nearly $4 million more than previously projected by city officials…