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Posted on: April 2, 2019

Cohoes Audit Shows Surplus for Third Straight Year

For the City of Cohoes, the news keeps getting better and better. Not only has the Spindle City seen a burst of Economic Development under the Morse Administration, today; Mayor Morse announced the results of an outside audit conducted by Cusack & Company showing a surplus of $316,824 in the 2018 general fund. Leaving the city’s unassigned fund balance at $4,351,480. 


As you know, the most exciting news in the past three years is NO new taxes, and NO new water or sewer fees.   What this means to our residents is they keep more of their hard earned money in their pocket and/or spend it as they see fit rather than being forced to pay more property taxes.   And, equally exciting, all three of our budgets have come with a surplus. This proves we are living within our means, and using creative ways to save and/or create new opportunities to increase our revenues.  The savings for our residents over the past three years is 1.6 million dollars. 


It has been a great three years and the future is bright for our community. It is without a doubt that Economic Development is the key to our success. We will never be that old booming manufacturing mill town that people often reminisce about, but we are quickly becoming that new thriving mill town that has been re-energized and revitalized and you can surely see that as the New Year has ushered in a new wave of construction projects around the City of Cohoes.  As you make your way around the Spindle City, you will see shovels in the ground and heavy machinery moving about as we begin Phase II of our Remsen Street sidewalk project, Canal Square Park Improvement Project, the birth of Mosaic Village on Sargent Street and of Remsen Place Development on the former site of the Cohoes movie theatre. Oh, and, let’s not forget a 12-million dollar makeover of 787.


It is without a doubt that the squeezing of major construction projects in small urban areas can seem complex and overwhelming to residents and neighborhoods at times but understanding the long term impact and value that such projects have on a small city is ultimately rewarding in the end.  Mayor Morse states, “As I have said for three years, we are working tirelessly to become that All American City once again, and we are well on our way. Cohoes Proud is not just words, rather it is actions, a way of life, an attitude by people showing their love for our community and a government that understands its role.”


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