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$1M county tax bill drains most of Schenectady’s savings

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Schenectady’s savings account is almost empty. On Wednesday, the city paid the entire delinquent tax bill owed to Schenectady County, draining its unrestricted savings account to nearly zero. After various offsets, the city gave the county $1 million. City officials estimate the city has about $75,000 left as a cushion for cash flow and any emergencies that hit in the next 10 months. City Council members were concerned about using all of the city’s savings ...


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comments

wmarincic
March 2, 2012
7:53 a.m.

[ Flag Post ]

Vince Riggi, the only sane voice on the city council.

justapto
March 2, 2012
9:11 a.m.

[ Flag Post ]

Thanks to all who voted in these guys. We could have had Roger Hull and the business help from the Golub Family. Check out the huge investment they have made at Erie with their office building. A 'change' in leadership Schenectady lost out on.
What a shame!!!

hodgkinst
March 2, 2012
10:24 a.m.

[ Flag Post ]

Sounds like the city's bond rating will decline.

catherine9966
March 2, 2012
11:59 a.m.

[ Flag Post ]

Hull wasn't the answer. He is the reason Union College students call Schenectady residents "schenectadroids". Hull is an egomaniac and wouldn't know the first thing about running a city.

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