Utica Officials: Audit Finds Fifth Consecutive Surplus
Utica city officials are touting a fifth consecutive budget surplus and a growing fund balance that they say is at it's highest level since the 1990's.
Mayor Robert Palmieri and Comptroller Bill Morehouse say a recent audit showed an operating surplus of $377,000 for the 2016-2017 fiscal year. The five year total of surpluses is nearly three-million-dollars, helping grown the city's fund balance to over six-million.
A release from Mayor Palmieri's office credits weekly budget monitoring and cooperation from department heads.
Utica's financial ratings have been upped by three financial institutions in the past year, including Moody's and S&P.