The City’s just-released annual comprehensive financial report and independent audit shows a (surprisingly, given the pandemic) positive fiscal picture for New Rochelle, with COVID-related revenue decreases offset by spending reductions. A healthy fund balance, retirement of debt, and federal rescue aid should provide a solid foundation for essential City operations and infrastructure investments going forward. This fiscal foundation will be further strengthened by new revenue from economic development. More reasons to be bullish about New Rochelle’s future. Here’s the full report.
