State Comptroller Visits Utica With Good Financial News

New York State Comptroller Thomas DiNapoli was in Utica today to tour downtown revitalization projects with Mayor Robert Palmieri.

One of DiNapoli’s stops was at Utica's Harbor Point area on North Genesee Street.

Utica was recently awarded $1.2 million in state funding for a major makeover of the city's untapped waterfront.

The comptroller says there is some much good happening in Utica and it's an incredible collaboration between the Mayor, the business community and the state.

DiNapoli also visited the New Century Building, Mohawk Valley Health System’s Wynn Hospital, the Northland Building and the former Children’s Museum.

Meanwhile, Utica’s Fiscal Stress score, as measured by the Comptroller’s Office, has improved by nearly 10 points.

DiNapoli’s office analyzes local government fiscal data, such as level of fund balance, to determine its susceptibility to fiscal stress and provides municipalities a score based on those factors.

With a score of 6.3, the city has no fiscal stress designation.

In 2012, the city's fiscal stress score was 70.8.

That same year, Mayor Palmieri met with DiNapoli and his team in Albany and they provided recommendations as to how Utica could improve its finances.

“We launched our Fiscal Stress Monitoring System to alert local communities of red flags and growing signs of fiscal problems. Mayor Palmieri and his team acted on our warning and took long-term, deliberate steps to improve Utica’s finances. His efforts are clearly working, and I commend him for this impressive turnaround.” Said DiNapoli.

In addition, Utica's credit rating has been upgraded by Moody's, Standard & Poors and Fitch Ratings.