COLONIE, N.Y. -- The fiscal issues that plagued the Town of Colonie are beginning to fade according to state Comptroller Tom DiNapoli.
Town Supervisor Paula Mahan joined DiNapoli as he outlined the town's fiscal profile on Tuesday.
A 2008 audit showed the town was in the red by millions of dollars, but DiNapoli says a 2012 audit shows a lot of the issues which led to that deficit have been addressed, adding that Mahan and her colleagues have worked hard to align spending with revenues, and eliminate budget deficits.
"The town has reduced costs, increased revenues and arranged to have the town's landfill run by a private company. The results have been significant. During the 2008 fiscal year, the general fund and landfill fund had deficits of more than $29 million and more than $7 million. Fast forward to today, the town's general fund had a deficit balance of only $245,000," DiNapoli said.
DiNapoli went on to say that the landfill deficit had been effectively eliminated when it was turned over to a private company.
To check out the comptroller's full report, visit osc.state.ny.us.
While Mahan and DiNapoli are touting the fiscal achievements by the town, the man looking to replace Mahan in November, Republican Todd Drake, says the situation isn't what they are making it out to be.
In a statement released by Drake, he said,
“Despite today’s political posturing by Supervisor Mahan, the hard realities regarding the Town of Colonie’s finances are found in the Comptroller’s own report. The fact is the Mahan administration’s use of fiscal one-shot gimmicks - like her landfill deal that promised to eliminate the deficit - and her overall mismanagement of town finances, has resulted in a failure to eliminate the deficit, $2.5 million in new debt and Colonie being placed on a list of communities in ‘significant fiscal stress’ and that's simply unacceptable."