BUFFALO, N.Y. (WIVB) — The Buffalo Common Council has voted to create a new fund balance, which is the difference between assets and liabilities in the city fund.
The fund balance will have enough money for 45 days of expenses. Common Council member Bryan Bollman says the goal is to create long-term stability after the pandemic hurt the city’s finances.
“We realized before the pandemic that we had some problems fiscally, and then the pandemic hit and we didn’t have a solid fund balance to tap into like the county did.”
The local law is in front of Mayor Byron Brown. He has 10 days to approve or veto the decision.