‘Council Member 11 Ward CITY OF ALBANY MEMBER pie crab Common Councn. COUNCIL OPERATIONS AND 371 Washington Avenue ETHICS Albany, New York 12206 LAW, BUILDINGS AND CODE ENFORCEMENT TELEPHONE: 518-364-5006 FAXx: 518 434-5081 GENERAL SERVICES, ‘COUNCIL MANKRASHER@OUTLOOK.COM HEALTH AND ENVIRONMENT November 14, 2014 The Financial Restructuring Board for Local Governments NYS Capitol Building, Room 135 Albany, NY 12224 Dear Members of the Financial Restructuring Board: On February 26th, 2014, the Financial Restructuring Board (FRB) accepted the City of Albany's application for a comprehensive review of the City of Albany’s finances. The statute creating the FRB (Local Finance Law Section 160.05) states that the board “shall render its findings and recommendations within six months of being requested to act by a fiscally eligible municipality.” With it now being mid-November, that six-month deadline has long since passed. The Common Council is scheduled to vote on the proposed 2015 budget for the City of Albany on November 24th. The continued absence of a report from the FRB is presenting a serious challenge to giving a full and proper analysis of the proposed budget that City of Albany taxpayers deserve Mayor Sheehan’s proposed 2015 budget includes a $5 million revenue line that comes from an FRB grant. The Council has received no official communication from the FRB that the City of Albany is assured this grant. Furthermore, it is essential that the Common Council and Albany taxpayers have a chance to review the FRB’s findings before acting on the city’s proposed budget. Approving this particular revenue line without seeing what will be required of the City to receive this grant would be a major disservice to Albany taxpayers. I respectfully urge the Board to issue its findings and recommendations regarding the City of Albany’s finances as soon as possible and before our November 24th deadline when the budget will be acted upon. This is critical information that the City currently lacks in order to make a fully informed decision. ‘Thank you in advance for your prompt attention to this urgent matter. Sincerely, dh bd Judd W. Krasher Colncil Member