ALBANY, N.Y. (AP) — An unprecedented proposal to create a powerful statewide control board in New York to steer several cities, counties and school districts away from bankruptcy is getting a chilly response from mayors.
The mayors of Syracuse, Albany, Rochester and Yonkers said Monday that local leaders need to be part of any solution to the fiscal problems facing municipalities. The mayors say even a recovery from the recession won't change the basic problems they're confronting: diminishing tax revenues in part from declining populations, and rising costs including public worker payrolls, benefits and pension costs.
The mayors were reacting Monday to a New York Post story that said Gov. Andrew Cuomo and Comptroller Thomas DiNapoli were discussing a control board.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.