CITY OF UTICA OFFICE OF THE MAYOR 1 KENNEDY PLAZA UTICA, NEW YORK 13502 PHONE: (315) 792-0100 ROBERT M. PALMIERI MAYOR
To:
City Clerk Michelle George President Michael Galime Members of the Common Council
From:
Mayor Robert M. Palmieri
Subject:
Veto Message for FY 2018-2019 Budget Amendments
Date:
March 22, 2018
I commend the Members of the Council for their diligence in examining the budget. I’ve had the pleasure of speaking with the majority of Council Members throughout the entire budget process. I appreciate their hard work and dedication for the betterment of our residents. After thoroughly reviewing the twenty-one budget amendments that were passed by the Common Council at their March 20th meeting, I am issuing the following veto message for one amendment, ordinance F14. Ordinance F14 increases the City’s use of fund balance by $300,000. The Administration utilized $750,000 of fund balance to pay off a one time, expiring and non-reoccurring expenditure. The allocation of any additional fund balance will compromise and damage the City’s financial position. I enclosed Budget Director Heather Mowat’s March 14th memo that was shared with members of the Common Council as to how the utilization of any additional fund balance can negatively impact the City. Specifically, the memo references two separate reviews from Moody’s and Standard & Poor’s Global in which both financial institutions clearly state the factors which can