Syracuse’s city auditor is marking the start of the fiscal year with a report that highlights some concerns he has about the city’s budget. Alexander Marion says most notably that the city’s bonding, or borrowing, has gone up substantially in just two years, increasing from $20 million to $31 million.
He also notes that the city has limited control over its revenue sources. Sales tax, state and federal aid are unpredictable, while property taxes only apply to less than half of the city’s parcels. Marion recommends that all departments provide more detailed budget information, clearly document budget goals, and list all contracts and ongoing payments.