Statement from Mayor Madden on Bipartisan City Council Approval of 2020 Budget

Statement from Mayor Madden on Bipartisan City Council Approval of 2020 Budget

For Immediate Release
November 26, 2019

Statement from Mayor Madden on Bipartisan City Council Approval of 2020 Budget

TROY, NY – Mayor Patrick Madden has issued the following statement regarding the City Council’s bipartisan approval of Troy’s FY-2020 Budget on Tuesday, November 26th:

“I commend the City Council for their bipartisan support of our 2020 budget. This budget – our fourth consecutive balanced budget since 2016 – makes key investments in public safety, parks & recreation, code enforcement, and quality of life improvements important to Troy residents & families. This is another positive step in the right direction for our City, and the result of fiscal transparency, strategic planning & strong financial oversight from this administration. We’re committed to protecting Troy taxpayers and remain focused on making necessary investments in infrastructure, neighborhoods, and supporting economic growth across our community.”

The administration’s FY-2020 budget proposal maintains necessary staffing levels, adds employees and investments in the Department of Parks & Recreation and Code Enforcement, and includes the purchase of personal protective equipment (“turnout gear”) for the Troy Fire Department.

Additional highlights of the 2020 Budget include:

  • First phase of the City’s 5-year street paving program ($250,000) in 2020. The administration has committed to increase local funding for street resurfacing and roadway improvements. This funding is in addition to existing New York State CHIPs (Consolidated Local Street and Highway Improvement Program) funding.
  • Infrastructure investments in various City facilities, including the State Street Parking Garage and surface parking facilities
  • Sidewalk replacement ($100,000) for upgrades to the City’s existing sidewalk network. This includes funding for City properties and curb cuts in coordination with the City’s Sidewalk Assessment Program
  • Tree removal program to address infected trees impacted by invasive species as detailed in the City’s Community Forest Management Plan
  • Demolition funding ($250,000) to address blighted properties impacting quality of life in Troy neighborhoods
  • Purchase of a new fire engine for the Troy Fire Department ($660,000) to enhance emergency response capacity and replace older emergency vehicles

After assuming office in January 2016, the Madden administration pursued a strong approach to budgeting and financial management. The result produced significant benefits for the City of Troy, including:

  • Balanced budgets without draining the City’s financial reserves
  • Modest increases in the City’s financial reserves
  • Ended the deferment of operating expenses to future years
  • Received two credit outlook improvements from Moody’s Investors Services
  • Reduction of the City’s Fiscal Stress Score by the NYS Comptroller’s Office during each of the past 4 years

Related: http://www.troyny.gov/mayor-madden-issues-proposed-2020-city-of-troy-budget/

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Press Contact:
John Salka, Deputy Director of Public Information
[email protected] / (518) 279-7131