Recommendations approved for Troy finances

TROY, N.Y. (NEWS10) – Troy Mayor Patrick Madden announced that the state Financial Restructuring Board has approved recommendations to help out the Collar City.

The city’s financial problems have sparked heated debates over the budget, and forced the city’s public pools to close for the season.

The board’s recommendations include $1.25 million to lower healthcare costs, nearly a million dollars for shared engineering, financial management, payroll and civil services with Rensselaer County, and energy efficient technology upgrades.

The board also proposes additional financial assistance to help the city deal with its debt.

City Council President Carmella Mantello released the following statement:

“I’m pleased that Governor Cuomo and the Financial Restructuring Board recognizes the financial challenges our City is facing. In particular, I have on numerous occasions advocated sharing services, and the feasibility of consolidating services, with the County as a means of efficiency and cost savings. The sharing of services was a major element in the Council’s independent auditor report, our Corrective Action Plan, and in my recommendations of the Annual Legislative Address. Hopefully, we can move forward together to effectively implement greater efficiencies and the sharing of services with the County.”

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