Comptroller Releases Amsterdam Audit

State Comptroller Thomas P. DiNapoli today announced his office has completed the City of Amsterdam Budget Review. DiNapoli said, "My office's audits of local governments improve their financial management practices," DiNapoli said. "These audits are tools for local officials to make sure proper policies and procedures are in place to protect taxpayer dollars and provide the best possible service these taxpayer dollars can deliver."

The budget review for the City of Amsterdam concluded the following: The city's significant revenue and expenditure estimates may not be achievable. Auditors estimate that the city's 2008-09 deficit will be $860,000, almost seven times higher than the city's estimate of $128,000. The city's contingency account may not be adequate to provide the flexibility needed if sales tax revenues do not meet expectations. City officials need to monitor the budget closely and develop a realistic long-term plan to guide future financial choices.