Schenectady fails to pass budget
The Schenectady City Council did not pass its budget on Wednesday.
Mayor Gary McCarthy said he is disappointed the council was not able to come to a decision.
The most immediate effect of this is it could become a point of review when it comes to credit rating and future borrowing.
McCarthy said he looks forward to working with the councilors to come to an agreement.
“The division on the council really seems to be more personalities than policy, and hopefully they’ll be able to rise above that, build a consensus and be able to put forth a package that’s fiscally sound for the city of Schenectady,” he said.
McCarthy also pointed out that the city will need to begin repaying its loans from upgrades to the sewer and water systems. That is $1 million each year for the next 30 years.