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News Release

News Release

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News Release
News Release

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Published by: Time Warner Cable News on May 23, 2013
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07/10/2013

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 News Release
Mayor‟s Office
 City of Poughkeepsie
62 Civic Center Plaza, Poughkeepsie, NY 12601 (845) 451-4073 Fax: (845) 451-4201Date: May 22, 2013
Statement by Mayor John Tkazyik on the
State Comptroller’s Report on the City of Poughkeepsie
 
“We have our points of disagreement, but I concur with the report‟s finding that „communitiesacross New York are dealing with increased fiscal stress.‟
Our problems are caused by unfunded mandates imposed on the city by the State of New York,skyrocketing health care and pension costs, coupled with reductions in state aid, on top of the
recession, that has been made worse by New York‟s anti
-business climate. Despite promises of reform, New York still has the second highest state and local tax burden in the nation and theworst business climate.This untenable situation has made life difficult for all New York municipal officials. These direeconomic conditions and the exodus of homeowners and taxpayers from New York also make itextraordinarily difficult to precisely predict revenues, or to precisely predict what the city will berequired to spend to satisfy the mandates imposed upon it by the State of New York.The City of Poughkeepsie has reduced its long-term debt from $77 million to $53 million at theend of 2011. It transferred$10 million of short-term debt to long-term in 2012 to facilitate development of the waterfront,which we fervently hope will lead to increased job opportunities,new housing and retail development, and increased tax revenue.Our short term debt in 2009 was $25 million. It is now $9 million.

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