Comptroller gives Falls fiscal profile

WIVB.com

Posted by: Eli George

Updated: Dec 10, 2012 5:57 PM

NIAGARA FALLS, N.Y. (WIVB) — The man who watches over how taxpayer money is spent is taking a hard look at cities suffering under stressful economic times.

State Comptroller Thomas DiNapoli released a fiscal profile on both Niagara Falls and Salamanca. The reports show both cities are taking a direct hit from population loss and decreased property values.

The comptroller also pointed to the state's ongoing dispute with the Seneca Nation of Indians for a dramatic drop in casino revenue for both cities.

"Salamanca had been receiving $3 million annually as part of the compact, and Niagara Falls has put the price tag at $60 million in loss casino revenue. The fallout for these two cities certainly has been dramatic," DiNapoli said.

The comptroller plans to release more fiscal profiles on cities across New York. The information will be used as part of a new "fiscal monitoring" system that will help struggling cities turn things around.

Copyright 2013 WIVB.com. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Political Pulse

We welcome your thoughtful comments. Be the first to participate in the discussion. All comments will display your username and avatar.