Tag: Mayor Byron Brown

Sep 30

2019

Buffalo’s budget woes get real

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A Wall Street bond-rating agency recently delivered bad, if unsurprising, financial news to the City of Buffalo: The agency had downgraded the city’s credit rating. The reasons for the downgrade: a consistent pattern of inflating projected revenues in budget proposals, then raiding reserve funds to balance budgets when those revenue projections proved false. That is to say, exactly the problems — what the agency, Fitch Ratings, described as “the city’s weak operating performance in recent years” — that we’ve been reporting for the past six months: here, here, here, and here. Meet and mingle with Geoff Kelly and our other[...]

Posted 5 years ago

Sep 16

2019

City Hall stuck on budget bailout

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For the fourth straight year, the City of Buffalo must tap reserves to balance its budget. The question is: What reserves? Where will the money come from this time? The books are just about closed on the financial year that ended June 30. The bottom line: The city finished around $10 million in the red, according to preliminary numbers published at Open Book Buffalo, an online portal that publishes city financial data and is updated weekly. Those numbers are unaudited and likely to shift somewhat over the next month or so. However, sources at the Buffalo Fiscal Stability Authority and[...]

Posted 5 years ago

Jul 15

2019

Brown denies Buffalo’s fiscal woes

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 Buffalo Mayor Byron Brown refused to talk with Investigative Post about the city’s fiscal plight for a story published last week, but he couldn’t dodge WGRZ’s Dave McKinley. The mayor’s response, included in a story that aired Monday, was a mix of arguing semantics and making misleading statements about city reserves. And, as if to underscore her lack of independence from the mayor, City Comptroller Barbara Miller-Williams issued a press release intended to assure the public that all is well with city finances. This wasn’t the first time she attempted to cover for Brown during her brief tenure in office.[...]

Posted 5 years ago

Jul 9

2019

Buffalo’s in shaky fiscal shape

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To hear Mayor Byron Brown tell the story, the City of Buffalo’s finances are strong and stable, and his finance team has constructed another in a series of sound, responsible budgets.  Two important bellwethers put the lie to that narrative. The first is the depletion of the city’s reserves. In the past decade, the Brown and the Common Council have used $107 million in reserves to close budget shortfalls. As a result, the city has no reserves left to plug future deficits. The lack of reserves has contributed to a second problem — poor cash flow — that resulted in[...]

Posted 5 years ago

May 30

2019

Troubling signs from Buffalo’s comptroller

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Well, she went ahead and did it. There was no good reason to do it, but she did it anyway. Interim Buffalo Comptroller Barbara Miller-Williams has issued an amendment to her own office’s critical assessment of Mayor Byron Brown’s projected 2019-2020 budget. The initial comptroller’s response was released on May 10, the deadline for the comptroller’s office to issue its response to the mayor’s annual budget proposal, according to the city charter. This new, amended response is dated May 15 and wasn’t submitted to the Common Council until a week after that — too late to count. But let that[...]

Posted 5 years ago

May 20

2019

City Hall’s looming fiscal reckoning

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A malfunctioning fire alarm rang shrill and unrelenting on the 13th floor of City Hall last Thursday morning, contributing to an hour-and-a-half delay of the Common Council’s special session to adopt its amendments to Mayor Byron Brown’s proposed 2019-2020 budget. Maybe the universe was trying to tell the Common Council something about that budget. If it was, they weren’t listening. Once it began, the meeting took about 10 minutes. The result: The Council moved some money around various budget lines in order to fund projects and purchases dear to each member’s heart, but left Brown’s budget essentially intact. This, despite[...]

Posted 5 years ago

May 14

2019

Kelly discusses Buffalo’s risky budget on WBFO

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Geoff Kelly’s current “PoliticalPost” blog details the risky assumptions Mayor Byron Brown has built into his proposed city budget. Kelly discussed those concerns on WBFO’s Press Pass.  

Posted 5 years ago
Investigative Post

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