Utica's outlook for 2013

Utica's outlook for 2013

Posted in the Utica Forum

lookeehere

Utica, NY

#1 Feb 4, 2013
The comptroller did a fiscal profile of Utica for 2013
"Utica has been in fiscal decline in recent years, relying on non-recurring revenues to fill budget gaps. Utica has drawn down its fund balance and its Water Trust Fund consistently over the past four years. In fiscal year 2011-12, the City came close to depleting both funds to cover budget shortfalls.
Moody’s Investors Service and Fitch Ratings recently downgraded the City’s long-term rating based on the City’s deteriorating fiscal condition, including ongoing structural budget imbalance, use of fund balance and liquidity issues."

Read the whole thing at
http://www.osc.state.ny.us/localgov/pubs/fisc...

Level 1

Since: Jan 09

Topicville

#2 Feb 4, 2013
the future doesnt look bright cause too many people spend wasted time on topics

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