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Comptroller flags $7.3 million third‑quarter deficit; cites missing tribal payment and settlement cost
Summary
At a Buffalo City Council meeting, the comptroller presented a response to the administration’s third‑quarter GAAP gap report showing a $7.3 million deficit versus the administration’s $2 million projected surplus, citing an unreceived tribal compact payment and the Ortiz settlement as primary variances.
Comptroller (name not specified) told the Buffalo City Council on Oct. 11 that the office’s response to the administration’s third‑quarter GAAP gap report shows a $7.3 million deficit, compared with the administration’s projection of a $2 million surplus.
The comptroller said the gap report covers nine months of actual fiscal‑year financial data and three months of estimated figures for the city’s fiscal year. “The administration is reporting the second payment from the tribal compact, an advance payment of $5,400,000,” the…
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