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Comptroller flags tight fund balance, sales-tax pressures; Finance Committee approves year-end transfers and state-aid resolution
Summary
The Finance Committee heard the comptroller's monthly update outlining staffing and benefit cost pressures, use of fund balance and slowing sales-tax growth, then approved several internal budget transfers and a resolution supporting continued state aid to municipalities.
The Kingston Finance Committee heard a comptroller briefing on fiscal pressures and approved a set of internal budget transfers and a resolution urging the state to maintain and expand one-time municipal aid.
John (the city comptroller) told the committee the city used $2.9 million of fund balance to balance the 2025 budget and warned that continued reliance on fund balance and rising employee-benefit costs will tighten options for one-time capital payoffs and short-term debt reduction in future budgets. "We experienced a $2,200,000 increase in our employee benefit cost in the '25 budget," John said, and noted that sales tax and property tax together…
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