Analysis of the comptroller’s water fund warning

Four straight years of no increases in water rates, while at the same time depending on seven-digit transfers from the water fund each year to reduce city taxes isn’t a sustainable financial plan for the City of Amsterdam. The possibility that the water fund balance could be depleted was proven and well-publicized at least a year ago. Yet in Mayor Michael Cinquanti’s proposed budget for 2021-2022, we see virtually no water rate increase (.25%) and the exact same $1.3 million appropriation of fund balance to transfer to the general fund as we had last year.

In a letter released on Friday, the New York State Comptroller’s Office gives a very clear warning...

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