the truth about Utica

Moody's Investors Service, Inc.

DETAILED CREDIT DISCUSSION
FINANCIAL OPERATIONS HAVE DETERIORATED
We believe the city will be challenged to restore structural balance to its budget after four consecutive
operating deficits and depletion of reserves and cash balances to very low levels. Due in part to a
willingness to appropriate reserves and inaccurate budgeting for various revenue sources, Utica's fiscal
situation has deteriorated since 2007. The city ran $4.51 million of combined deficits from fiscal 2008 to
fiscal 2011, draining the general fund balance to $2.4 million, or 3.7% of revenues, at the end of 2011.
Management expects to draw an additional $950,000 from the general fund balance in 2012, and,
Moody's notes, a larger than expected utilization of the general fund balance may result in additional
credit pressure. Management says revenues are tracking a little over budget for fiscal 2012, while expenditures are tracking according to budget.
We believe it will prove difficult to correct this fiscal imbalance immediately, as the city has had difficulties
achieving structural balance due to the city's exposure to variable revenue including state aid (28% of fiscal 2011 governmental funds revenues) and sales taxes (19% of fiscal 2011 governmental fundsr evenues).. On the expenditure side, pension contributions and debt service make up an above-average 20% of fiscal 2011 operating expenditures, and the city has several unsettled labor contracts.
We note that a new administration has taken office this year and has pledged to cut spending and shore
up the city's finances. We plan to monitor the administration's success in implementing these changes.

finaly the truth about Utica, The OD gave the a pass, Roefaro the numbers are in and you are the worst mayor ever. Cermenaro should just quite because he sure was not watching the peoples money, now just a blood succker waiting to cas in on a pension, and the Common council led by Morehouse are just as bad as roefaro for playing along with his shell game.

http://www.uticaod.com/archive/x392621657/fil...
full report

inaccurate budgeting for various revenue source

fire tony arcuri now

Utica's fiscal situation has deteriorated since 2007.

Julian was better than Roefaro

"inaccurate budgeting for various revenue sources"

One of those "inaccurate" revenue sources was the ambulance service. When it hits the fan, their cheerleaders will have egg on their faces.

Scalise kept her mouth shut and played the game and Cerminaro has all of the sudden done a total about face. Were's he been the last six years? The common council had turned a deaf ear and Julian and Roefaro blew through the city savings like drunken sailors. In fact, the only city official I every even heard speak of the dangerous direction the city was heading in was Pete Fiorello the budget director. At least it's nice to have one honest guy in the bunch. That poor guy has a mess on his hands now. And I feel even sorrier for new mayor Palmieri.

Don't grab a weapon and cry suicide in utica.

OH NO BARS ON WINDOW wrote:

Don't grab a weapon and cry suicide in utica.

Yeah! The Wymans Pink Lady Brigade will come clusterphuckking their way onto your life and destroy you!
Besides Suicide's only for Troopers that get caught molesting young girls they are coaching!

Yes, I stole all the money in the city and gave it to the UPD, UFD and my friends and quit because I knew I spent it all. Ha, there is nothing left so why would I want to stay mayor. I enjoy the taxpayers money and went on many trips with my mistress and had a ball while spending it to. You are the suckers that elected me and gave me all your money. I raised taxed, gave out raises, and settled some vendattas on your dime. Sorry, i'm going to Florida and I'm helping Junior move up the ladder of corruption.

roefaroarcurifvckedutica wrote:

Utica's fiscal situation has deteriorated since 2007.
Julian was better than Roefaro

Not by much.

Utica has been systemically bankrupt for a few years now. The numbers have been there. The citizens have just sat there, watched it happen and continue to elect people who offer no answers. Worse, the business community and newspaper sit back and enjoy the show before driving home to New Hartford.

go to florida with the rest of yours, please.

Taxpayers had there chance to recall the mortian but for some godforsaked reason did nothing while watching your money disappear faster than you could say hocus pocus. Then on top of that elected a rubberstamp council and a loser comptroller during the worse times since the great depression. They put us in a hole the mortian dug without a conscience or care for the poor or the city itself while lining pockets of friends and family and padding contracts and pensions of the UFD & UPD. They even actually borrowed the money to do most of it and yes, you sat baack and did nothing about it. We will soon feel the way the refugees do that live in third world countries while they feel right at home with similar circumstances they just left. Our dictactorship stlye leadership mush end now or forever hold your peace. One the ex mayor quit and only part of the council booted out but let this only be a start before the rest of the so called experienced council members are gone who got us into this hole Roefaro dug.

Sad but true.

The perfect storm for the fleecing of taxpayers and worse administration that Utica has ever saw in it's history. Roefaro owned the rubber stamp copany and council and they all went for it because they all made out as well as all there family and friends. The final nail was put in the coffins of to many to count taxpayers while the King and his band of thieves emptied the coffers. Now what? Did we deserve such mayhem? Why isn't any of them in jail? Do we need a state audit?

If the city goes bankrupt, you can kiss your pensions goodbye, they are not guaranteed as people think.

This is true, the city would not be obligated for their portion of pension reimbursements.

Utica is the worst place I have ever been to!

Utica is the worst place I have ever been to! And it just keeps getting worse and worse.

an east coast rust belt city composed largely of recent immigrants for decades, Utica has struggled for 75 years. Its housing stock is now one of the worst in USA and there are few jobs for the unskilled. Too bad. Now that's stating the obvious.

fishook nichols wrote:

an east coast rust belt city composed largely of recent immigrants for decades, Utica has struggled for 75 years. Its housing stock is now one of the worst in USA and there are few jobs for the unskilled. Too bad. Now that's stating the obvious.

Plenty of city employees to service the 40 thousand residents. Plenty of firemen to put out all the fires you read about. Don't forget the policemen to stop all those criminal weed smokers. Oh yea, DPW, we need them to babysit the people we actual contract to fix the roads. Cant forget codes. You know the ones always getting around to fixing problems. Did I mention the 196 police compared to 80 in Rome. Lets not get into the amount of money these losers make to do nothing. The common council doesn't do anything and are more responsible than our horrific mayors because they're suppose to watch the money, but they're borrowing without a vision. Who is ultimately responsible? You and I. We elect people like the clueless kid in North Utica or any one of the career politicians then wonder what went wrong. We allow the city to zone away businesses then wonder where they went. High taxes and fees will keep more businesses away. YOU and your lackluster attitude is equally responsible for the demise of this city. Its no longer enough to work, take care of you and your family while the world around you is crashing. Why? the destruction will soon be at your doorstep.