Friday, November 7, 2014

Comptroller: Troy spent $5.9 million more than it took in from '11 through '13 (DOCUMENT)


ROSAMILIA
From 2011 through 2013, the City of Troy spent $5.9 million more than it took in, according to a scathing report by the office of state Comptroller Tom DiNapoli (see below.)
According to the 10-page report, the city operated at a $2.3 million deficit in 2011, a $1.3 million deficit in 2012 and a $2.4 million deficit in 2013. The report comes about a week after the Comptroller warned the city that if it closed this year at a projected $800,000 deficit, it could come back under the control of the Financial Control Board for the first time in nearly 20 years.
Mayor Harry Tutunjian's last year in office was 2011 and Mayor Lou Rosamilia took over on Jan. 1, 2012.
TUTUNJIAN
In addition, the Comptroller points out that the city has transferred substantial amounts of money from the water fund to help offset the deficit, an option the Comptroller warns will be limited in the future. In 2011, the city took some $300,000 from the water fund, in 2012, $1.2 million and in 2013, $1.5 million.
Furthermore, the Comptroller says the city failed to adequately budget for capital expenditures and instead relied on borrowing. From 2011 through 2015 the Comptroller estimates the city’s capital improvement fund will decrease from $6.2 million to $175,000.
The Comptroller also points out that next year’s budget, which has not yet been approved by the Council, includes a one shot $650,000 of revenue from the sale of the old City Hall site and an approximately $1.6 million of savings by deferring three months of its pension contribution until 2016.
  “As a result, the 2016 budget must contain provisions for a significant increase in retirement appropriations,” according to the report.
More information as it becomes available.  

Here is a link about the Comptrollers report written by a seasoned reporter.

Here is another link, about the same by a talented writer and ambitious young reporter who unfortunately has no editorial oversight and nobody above her willing or able to pick up the slack when a major story breaks late in the day.
 
 
 

40 comments:

  1. Dinapoli has to take into account that Pete and Lou are nice guys.

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    1. So did Lou and Pete ever respond in a timely manner to the Controllers office? With the way the City has been run in the past decade or so, I would say not. The City of Troy seems to think they don't need to follow rules.

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  2. Good job Lou! We love your shoulder pads though! !

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  3. The 2011 and 2012 budgets passed in 2010 and 2011, belonging to the previous administration and in fact, only $800,000 of it occurred under Lou. Not great, but he did not have the luxury of Mark Pattison's surplus to fill any gaps like Tutunjian did.

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    1. Put the recent political hires are RECENT (not the council's hire because,we just learned that was due to moving around of funds for people in the Mayors Office)and CSEA jobs have been eliminated due to people being illegally hired on the payroll.

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  4. Nice guys my ass, Lou's incompetent, Pete's a pathological liar and Dunne is as a corrupt individual as you'll ever see. And they're hands above the clown council. The lack of personal hygiene by the council followers had me sick to my stomach Thursday night. The stench of cigarette smoke, dirty close and BO was too much to handle.

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    1. What's a dirty close?

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    2. Nothing else to do today huh Bill ?

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    3. Ahhhh anonymous--Have the balls to say it to their faces? I doubt it. Tsk, tsk, tsk-- there's an awful lot of ball-less idiots goin' round on both sides.

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    4. ^^^spoken like a true anonymous^^^

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    5. Eliminate the non resident and people who are not legally in CSEA positions go. If you don't live here and aren't reachable on a CURRENT list, get out. Your a waste of tax payer money.

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  5. Harry started it, and the city hall debacle is the reason we are in debt. Harry did it.

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    1. I thought it was Mirch?

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    2. In fact, it was Wade and his crony Conroy.

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    3. Audit audit audit audit. PLEASE get an auditing group like the Urbach group. I know they are contracted for the State now but grab someone Like them. Family and Friends need not apply. I have a feeling the entire "acting" controllers office days are DONE

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  6. Mayor Lou financial super hero !


    P.S. It's all Tutunjian's fault

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  7. The financial issues are 20-30 years old and have been compounding. Look at who has been there that long and has not been mentioned as of yet as a part of the problem, and there lies your culprit

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  8. The comptroller is incompetent

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    Replies
    1. Chamberlain has lasted that long and how did he do it ??

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  9. Don't worry, the Nice Guys will probably be indicted before the city goes bankrupt...

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  10. The city lost big when they lost Debbie Witkowski.

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    1. The city lost big when they lost Denby's and Peerless East...

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  11. Witkowski was working for King Tut. She contributed to this problem.

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    1. Thanks ace. I mean commissioner dunne

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    2. Debbie went to work at THA in 2010 none of this has to do with her Bill. Hey didn't you bring in $100 million dollars of work here Bill ? You think that could have helped.

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  12. Rosamilia will soon need to change his legal name to Ponzi.

    Wake Up! Time to file Chapter 9.

    Big deal state oversight will be reinstated.

    Can someone explain why an world renowned accounting professor would bond 20 years on DPW equipment with a life expectancy of 5 years?

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    1. He didn't. They only allow bonding according to life expectancy of the thing being bonded for. Was explained by the bonding lawyer when the council voted to do it. Go to a meeting once in a while maybe? No one ever said he was world renowned.

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    2. Thanks morris cat

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  13. The city lost HUGE when they lost Joe Buchanon.

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    1. Wasn't Buchanan the city comptroller before Witkowski who stole 4-500k? from the taxpayers of Troy????

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    2. Did Buchanan ever repay the taxpayers of Troy?????

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  14. Its my birthday today. Not gonna take my meds. Lookout Troy. Go ahead and try to get me thrown out of a meeting again. I'm getting older and wiserer!~~!~~!

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  15. the city stopped tagging and towing for the 4 a.m. street cleaning...they don't charge enough for illegal dumping as far as when the slumlords empty out their apartments every other month..they do not enforce recycling..heck down in the hood they don't even use garbage cans..they throw it into the street and the city sweepers clean it up every monday...people chop down trees and just throw them in the street and the city picks it up free of charge...this city..administration sux

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    Replies
    1. If the code department would only enforce these simply quality of life laws this city would be in great shape.

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  16. Lou will need to request assistance from bill dunne and his Ida. Looks like aces plan is working. Please bill we need help. Ok now you owe me

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  17. I am not ace. I don't read blogs or facebook

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