BUFFALO (WBEN) - The City of Buffalo is currently facing a major financial burden - much of which is being attributed to the devastating impacts of the Covid-19 pandemic.
"We have Albany telling us that we can anticipate up to a 30% reduction in state aid," began Common Councilman Chris Scanlon at Monday's caucus meeting. "I think we all know that our sales tax revenue is going to be in the tank, and the message incoming from the federal government as of late last week was that we could prepare to file bankruptcy because they're not inclined to provide any assistance to states or municipalities."
How bad is it?
In a year-to-date report provided by City Comptroller Barbara Miller-Williams, the city has received $341 million in revenue while spending $376 million - showing a net deficit of $35 million as of April 22.
"We are confronting a challenging time as a city, however the Department of Audit and Control continues to make it a priority to report and strengthen the City of Buffalo's financial operations," said Miller-Williams.
There are still nine weeks remaining in this fiscal year (June 30), so that $35 million deficit does not necessarily present the final shortcoming. Mayor Brown is releasing the city's budget for next year on May 1.