Troy, NY is a small city located on the eastern bank of the Hudson River. It is a rather large city with a population of about 50,000 (Wikipedia). The budget problems seem endless, whether it's the water, sewage, or some other issue. There have been many attempts to solve this problem such as a $1,939,800 state grant to help pay for a ruptured water pipe (Crowe). The city also received a $972,377 federal grant from the U.S. Department of Homeland Security to fill seven vacancies in the Troy Fire Department(Crowe). The grant will cover salaries, training and associated overtime costs, yet somehow the city still continues to have budget problems. .
The number one concern with the budget problems in Troy are the water pipe issues. The city has very old pipes and multiple sections will break over time. Eventually, most of the water pipe system will have to be replaced due to them breaking. If the pipes are not replaced, the city will be making quick fixes on each section that breaks for many years to come. In order to budget this properly, the city has to adopt a water fund budget that include realistic estimates for revenues and expenditures based on past prices to replace these pipes. The city will continue to overspend and put themselves more into debt if they do not budget themselves properly for the upcoming year. .
City of Troy Mayor Lou Rosamilia proposed a 9.3% tax hike for Troy residents. This is not the long term answer to help fix the city's budget issue. Raising the taxes in the city will only solve the problems temporarily. Although It is supposed to allow the city to maintain its $68.6 million budget in 2016 (Crowe), the major concerns of other Troy residents and myself is that there is absolutely no guarantee that this tax increase will fully cover the 2016 budget. The other major concern is this tax increase will only detract more people and businesses from coming and living in the city.