Wednesday, July 1, 2009
 |
 |
Join our E-Mail list!
Send an e-mail request to
subscribe@empirestatenews.net,
with the word "Subscribe" in the
subject line.
For site information and
viewing tips, click here.
All content copyright © 2003-2007
Statewide News Network, Inc.
Contents may not be reproduced
in any form without express written consent
Amsterdam faces budget deficit, state audit says
AMSTERDAM – The City of Amsterdam’s significant revenue and expenditure estimates may not be achievable, an audit by the state comptroller’s office said.
State auditors estimate that the city’s 2008-09 deficit will be $860,000, almost seven times higher than the city’s estimate of $128,000.
The city’s contingency account may not be adequate to provide the flexibility needed if sales tax revenues do not meet expectations. City officials need to monitor the budget closely and develop a realistic long-term plan to guide future financial choices, according to the state audit.