Niagara Falls projected to deplete available fund balance by end of year

NIAGARA FALLS, N.Y. (WIVB) — New York State Comptroller Thomas DiNapoli says Niagara Falls needs to plan realistically when putting together future budgets.

According to a new audit, the city is projected to deplete its available fund balance by the end of this year.

“The city did not maintain a multiyear financial plan and has continued to rely on unreliable revenues and one-time funding sources,” DiNapoli’s office said.

Between fiscal years 2014 and 2017, casino revenue was the primary source for balancing gaps in the budget.

For the 2019 fiscal year, without any additional casino revenue, Niagara Falls is projected to have a general fund budget gap of $12 million.

MORE | See the full audit here.

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