Controller Matthew Agresta said yesterday that the city’s 2012-2013 Annual Update Document (AUD) has been accepted by New York State. The filing marks a step forward in the city’s effort to correct problems with its accounting records and catch up with required reporting to the state. Agresta told the Common Council on March 3, that the 2012-2013 AUD had been submitted and that work on the 2013-2014 AUD was already in progress.
According to the AUD, the city’s general fund balance at the end of 2013 was $612,305. That figure is an increase from the general fund balance at the end of 2012 which was $393,649.
City Clerk Sue Alibozek sent an email to the media yesterday announcing a committee meeting previously scheduled for today to discuss the city’s capital projects had been canceled. She cited Alderwoman Diane Hatzenbuhler as saying the reason for the cancellation was because the AUD had been accepted and released to the public, and that more time was needed to review it.
Hatzenbuhler later said, “With this AUD being released, I want to see how things are tracking compared to 2012. I will be meeting with an ad hoc committee to discuss these issues. If we are not heading in a positive direction from the last AUD, then why should we consider bonding for anything other than something that is an emergency.”
In discussions about the city’s capital project needs last week, Hatzenbuhler argued for initially borrowing only $1 million out of a list totaling over $3 million, in order to cover projects such as an inspection of the city’s sewer system which is mandated by NY State.
The date of the next committee meeting to discuss capital projects has not been finalized, but may be scheduled for either Tuesday or Wednesday of next week.
