Utica’s Next Budget Could Be as Tough As This Year’s

Can it get any worse? Yes, it can and will get worse. There are less people and thus less tax revenue.

The city will lose roughly $661,000 in water trust revenue, Budget Director Peter Fiorillo said. It used that much in the 2012-13 budget but doesn’t expect to use more next year.

Pension and health care costs – which rose $2.2 million last year – are expected to rise again next year.

The city is locked into more than $70 million in general fund debt obligations, and the biggest chunk of its budget — employee costs — are directly tied to the services the city provides.

via Utica’s next budget could be as tough as this year’s – Utica, NY – The Observer-Dispatch, Utica, New York.

Raising taxes will only work so much. Utica needs to find a way to increase jobs and get people to stay in the city.