A Year to Date Budget Report for the City of Buffalo has been submitted to the Common Council, noting a reduction in general revenues and sales tax receipts amid the COVID-19 pandemic.
"We are confronting a challenging time as a city, however, the Department of Audit and Control continues to make it a priority to report and strengthen the City of Buffalo’s financial operations," said Barbara Miller-Williams, City Comptroller.
The report noted that as of April 22, 2020:
• Year-to-Date Revenues @ $341,040,089
• Year-to-Date Expenses @ $376,474,885
• Year-to-Date Deficit @ -$35,434,796
The Comptroller further noted that the city’s cash funds are projected to land in the negative by the end of the month and cash disbursements are trending lower than projected. However, the receipt of anticipated State aid for the City and Board of Education will result in positive combined cash flow through June 2020. There are nine weeks of revenues and expenses remaining to be recorded in the 2020 Fiscal Year and the Comptroller and the Department of Audit and Control Personnel will continue to collaborate with our partners in government during these challenging times.