The decline in manufacturing has contributed to the City of Binghamton’s high rates of unemployment and poverty compared to statewide averages. The City must also contend with constraints upon its ability to raise revenues.

Albany had no available general fund balance between 2002 and 2006. Subsequently, the City’s available balance grew to a high of $19.8 million in 2008 before declining in the wake of the 2007-09 recession. Standard and Poor’s Rating Services rates the City of Albany’s general obligation debt at AA-, at the low end of its second-highest rating category. The City has formally applied to the Governor’s Financial Restructuring Board for Local Governments for assistance and has been accepted by the Board.

This report seeks to inform that debate by examining the economic and fiscal histories of these other cities between 1980 and 2010, a period characterized by divergent trends for different groups of cities in the Empire State.

This follow-up report expands the analysis of the previous report; updating annual local government financial data and contrasting that to the associated local financial infrastructure needs in the most recent New York State studies. It also draws upon a new series of interviews with local officials to assess how they are working to provide the best infrastructure possible to their residents.

Local governments’ infrastructure needs are substantial and growing, while their ability to maintain their investments in capital programs is increasingly constrained. State policy changes could help reverse this trend..

This report provides an overview of their finances, including data for Villages fiscal years ending in 2004 and 2005.

This report provides an overview of their finances, including data for Towns fiscal years ending in 2004 and 2005.

This report provides an overview of their finances, including data for School Districts fiscal years ending in 2004 and 2005.

This report provides an overview of their finances, including data for Fire Districts fiscal years ending in 2004 and 2005.

This report provides an overview of their finances, including data for county fiscal years ending in 2004 and 2005.