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Ivins on putting VLT aid in reserve fund: It's not that simple
City Commissioner of Finance Ken Ivins Jr. put out a release today asking for city residents to make suggestions on how to spend $1.5 million in state aid for hosting video lottery terminals at Saratoga Casino and Raceway restored in the 2011-12 state budget.
He has previously said he would support putting the balance of the restored funding in the city's unreserved unappropriated fund balance, which he has said time, and time, and time again is currently below the amount recommended by the office of the state comptroller.
Putting the money into the city's unreserved unappropriated fund balance is, "not a simple, straight option," because the funding must be used for two specific purposes per state law: defraying the city's infrastructure and operating costs associated with hosting the gambling machines at Saratoga Casino and Raceway or lowering property taxes.
It's a pretty big target to hit; as far as I can tell the funds could be used for everything from filling potholes and building sidewalks near the racino to police department overtime costs for those long summer nights on Caroline Street.
What do you think the $1.5 million should be spent on?
He has previously said he would support putting the balance of the restored funding in the city's unreserved unappropriated fund balance, which he has said time, and time, and time again is currently below the amount recommended by the office of the state comptroller.
Putting the money into the city's unreserved unappropriated fund balance is, "not a simple, straight option," because the funding must be used for two specific purposes per state law: defraying the city's infrastructure and operating costs associated with hosting the gambling machines at Saratoga Casino and Raceway or lowering property taxes.
It's a pretty big target to hit; as far as I can tell the funds could be used for everything from filling potholes and building sidewalks near the racino to police department overtime costs for those long summer nights on Caroline Street.
What do you think the $1.5 million should be spent on?
posted by The Saratogian City Desk at
11:54 AM
1 Comments:
Building the reserve fund has clearly always been Commissioner Ivins main goal. A solid budget ha never been created since his time in office. During a recession/depression building a reserve while jeopardizing the integrity of the city makes no sense. Saratoga Springs image must be preserved not allowed to deteriorate. The city relies very heavily on tourism. Would you invite someone to your home to dinner and serve dinner with dirty dishes???
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