Palmieri Announces Utica’s Largest Budget Surplus In 16 Years
Utica Mayor Robert Palmieri says the completed audit of his first fiscal year in office shows the city had a budget surplus of $931,000..
Palmieri says that’s the largest yearly surplus since 1998.
When Palmieri took office in 2012, the city had a $3 million operating deficit and an unreserved fund balance of negative $15,000.
The mayor says the completed audit confirms a nearly $4 million positive swing in operations in his first year in office.
The negative $15,000 fund balance is now over $1.5 million.