NISKAYUNA-- Citing the town's shrinking surplus over the past three years, a major Wall Street rating service has slightly downgraded Niskayuna's bond rating.
"The downgrade to Aa3 from Aa2 is based on the decline in reserves over the past several years," according to a news release from Moody's Investors Services. "The negative outlook reflect Moody's belief that the town will be challenged to replenish reserves back to historical amounts." When a municipality's bond rating drops, they can expect to pay higher interest rate on bonds.
Town Councilman Jonathan McKinney said he is not surprised by the news and accused Supervisor Joseph Landry of putting politics ahead of town finances. He said the town's infrastructure, including highway, water and sewers are being compromised even as the town continues to earmark funds to the playground and pool programs, which are losing money.
"We need to change the focus of what we spend our money on," McKinney said. "We need to focus on things that are going to get us out of this hole."
Landry, a Democrat seeking reelection did not return calls Thursday seeking comment. But last week when he unveiled his tentative budget, Niskayuna Comptroller Paul Sebesta estimated the fund balance to be $600,000 and that the town was at "minimum operating level." He also did not return calls Thursday.
Working together works! Working together works! The outlook on town finances was set at negative meaning another downgrade is likely. Borrowing will cost the taxpayers more because of fiscal mismanagement. Sounds like the City and County. Keep re-electing fiscal incompetents.
Working together works! Working together works! The outlook on town finances was set at negative meaning another downgrade is likely. Borrowing will cost the taxpayers more because of fiscal mismanagement. Sounds like the City and County. Keep re-electing fiscal incompetents.
The City of Schenectady leaders take money from 'fees' to pay other bills. So insead of 'borrowing' they pilfer from the taxpayers.
The City is not far behind in a downgrade. Just hope it happens before the election.
Ya, let's build more parks, playgrounds and frivolous crap during the worst depression since the 1920's
Way to go Ronda! Keep up the good work, you'll get us all in the poor house yet!
Then schenectadians will have a park to 'squat' in after they become homeless!! Ya just can't make this stuff up!
When the INSANE are running the ASYLUM In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. -- Friedrich Nietzsche
“How fortunate for those in power that people never think.” Adolph Hitler
A ringing endorsement of one party rule in the county.
"While Foreign Terrorists were plotting to murder and maim using homemade bombs in Boston, Democrap officials in Washington DC, Albany and here were busy watching ME and other law abiding American Citizens who are gun owners and taxpayers, in an effort to blame the nation's lack of security on US so that they could have a political scapegoat."
Then schenectadians will have a park to 'squat' in after they become homeless!!Ya just can't make this stuff up!
You don't know how true this is. No wonder over City 1,000 properties are abandoned because of 35 straight years of DEM over taxation and over assessment. No need to make any changes? There's a certain percentage that like having the highest taxes, worst schools and worst government.
the rating agencies will be re-evaluating EVERYONE.....sovereign $ will get absorbed and you and I will trade in points....much like the Xbox 360 and other 'earned points' via American Express/Visa Gold etc etc etc.......
BIGGER PICTURE FOLKS....BIGGER.....BACK AWAY FROM THE TREE TRUNK.......SEE IT? CAN YOU SEE IT? many roads converge into one........look look look....but can you SEE?
...you are a product of your environment, your environment is a product of your priorities, your priorities are a product of you......
The replacement of morality and conscience with law produces a deadly paradox.
STOP BEING GOOD DEMOCRATS---STOP BEING GOOD REPUBLICANS--START BEING GOOD AMERICANS
Wait until Moody's gets around to the City and Rotterdam. This is nothing but couldn't happen to a bigger idiot. Go back to Dallas Coach Landry! Working together to screw every taxpayer and implode your credit rating.
As has been said MANY TIMES OVER --- the Bicentennial Park proposal will NOT be as expensive as its critics claim ---- the largest cost of developing a park is acquiring the land and the TOWN AND CANAL CORP ALREADY OWNS THE LAND ---------------- since it will be developed as "passive use park" and developed incrementally ... costs will be contained and development of each increment WILL ONLY HAPPEN AS FUNDING BECOMES AVAILABLE .. if we don't have the funding then we will wait until funding becomes available .. it is just that simple ---------- finally, we will apply for private, federal and state grants and raise money through fundraisers and VOLUNTARY DONATIONS to fund the development of the park -------- I do NOT anticipate the town having to bond for any part of the development of Bicentennial Park .. and, if certain things fall into place, we won't have to bond to build the multi-generational community center.
George Amedore & Christian Klueg for NYS Senate 2016 Pete Vroman for State Assembly 2016[/size][/color]
"For this is what America is all about. It is the uncrossed desert and the unclimbed ridge. It is the star that is not reached and the harvest that is sleeping in the unplowed ground." Lyndon Baines Johnson
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Working together works! Working together works! The outlook on town finances was set at negative meaning another downgrade is likely. Borrowing will cost the taxpayers more because of fiscal mismanagement. Sounds like the City and County. Keep re-electing fiscal incompetents. 
