City Finances in Solid Shape

New Rochelle’s Comprehensive Annual Financial Report, which was just released and presented to the City Council by our independent auditors, shows the City government to be in good fiscal health.

At the same time, New Rochelle — like most cities — still confronts long-term fiscal pressures that will require responsible management and priority-setting.  Here’s a good summary paragraph from the report’s introduction:

“The moderate growth of the nationwide economy and the economic driven revenue growth of the City as a result of a bold and ambitious multi-stage development plan has improved and stabilized the City’s financial condition in 2017.  Although development continues to progress, the City will continue to face considerable financial challenges that include health insurance increases, union-negotiated wage and benefit increases and general inflationary increases that will affect the City’s budget.”

Here’s the full report.