PLATTSBURGH — A report from the state’s financial watchdog office has given the City of Plattsburgh favorable results, but the two candidates for mayor are reserving judgement.
Mayor Chris Rosenquest said a recent report from the State Comptroller’s office shows financial stability and environmental health, and the city has avoided significant stress designations.
The report says the city demonstrates a strong and sustainable position for residents.
The Fiscal Stress report evaluates municipalities based on various financial indicators, such as fund balances, revenue trends, and expenditure management. The city was classified with no fiscal stress designation, the report said.
The report noted these items:
• A total fund balance of over $7.8 million, equating to 29.25% of gross expenditures
• Personal services and employee benefits, one of the largest expenditures for the city, accounted for 43.48% of total revenues
• The city’s reliance on short-term debt remains minimal, with no significant issuance of cash-flow or deficit-related borrowing
The report said that these indicators reflect the city’s commitment to strong financial management and long-term fiscal responsibility. By maintaining strong fund balances and effectively controlling personnel costs, Plattsburgh is ensuring that it remains well-prepared to meet future challenges without over-reliance on borrowing.
As Plattsburgh moves forward, this solid fiscal foundation will be key to sustaining its momentum and addressing emerging needs, the report said.
“Here it is again: an independent analysis of the State Comptroller’s office that shows our city is in great financial shape, our spending and debt management is well under control, and we’re in a thriving fiscal position,” Rosenquest, who is not seeking re-election, said.
“The persistent doom and gloom narrative that the city is in financial ruin or that we’re overspending bears no representation to the facts. That narrative serves only the ill-informed who continue to regurgitate it.”
The Environmental Stress portion of the report evaluates demographic and economic indicators, including unemployment rates, population growth, and household income levels.
Plattsburgh also received no designation for environmental stress.
KEY POINTS
Key highlights from the report include:
• Plattsburgh’s median household income stands at $55,049, with 19.07% of households receiving public assistance
• Population stability, with a modest growth of 2.53% since 2017
• Housing values have seen an increase of 16.51% over the last five years, along with a 6% unemployment rate.
These indicators reflect the city’s ongoing efforts to foster economic resilience and improve the quality of life for all residents, the report said.
With a growing population, rising property values, and manageable unemployment levels, Plattsburgh is well-positioned to continue its upward trajectory. The city’s strategic initiatives, including investments in housing and community development, are aimed at further enhancing these trends and ensuring long-term growth.
CANDIDATES VIEWS
Both candidates for mayor said they were concerned about the long-term debt of the city, which was not discussed in the mayor’s news release.
Republican Don Kasprzak said that while he appreciates the positive aspects of the fiscal report for the city, his previous experience has always focused on long-term debt and fund balance.
“The report addresses short-term debt but does not mention our long-term debt responsibilities which are between $40 million and $43 million,” Kasprzak, who served as mayor from 2007 to 2014, said.
“If re-elected mayor, my immediate attention will be to look at our debt obligations and the reserve funds these appropriations are funded by. This is a concern of mine.”
Democratic candidate Wendell Hughes also raised questions about long-term debt.
“It is difficult to react to the mayor’s rosy press release without seeing the whole report from the Comptroller,” Hughes said.
“Does it say anything about the, ‘kick the can down the road’ of huge long-term debt that has skyrocketed under Mayor Rosenquest? Is that fund balance restricted or committed? How much of it can even be used that is in the general fund?”
Rosenquest said that the city continues to prioritize fiscal responsibility and environmental resilience.
“There’s always room for improvement, but overall our city is in better shape than it has ever been,” he said.
“Our residents, visitors, and business owners have been positioned for success for years to come and our city government is poised to support this growth.”