Mon January 13, 2014
DiNapoli says Buffalo's finances improving
A report released in Buffalo by State Comptroller Thomas DiNapoli says the city's finances are trending in the right direction.
DiNapoli credits careful budget planning by Mayor Byron Brown, control board oversight, and increased state aid for the improvement.
"Today, Buffalo is in the strongest budget position it's been in in many, many years and as other communities are just beginning to face some of the challenges that you faced a few years ago, this should serve as a model for how you could do it right," DiNapoli said.
DiNapoli cites a "collective effort" of city officials to right the ship, including making what he called "tough choices" on spending and budgets.
However, the report shows "a number of red flags" including a declining population, a "noticeably less" median home value than the state's median, and a child poverty rate of 44 percent, which is higher than cities of similar size.