The City of Troy is working to hire a new comptroller while working to close last year’s books.
Mayor Carmella Mantello says just before she took office this month, city comptroller Andy Piotrowski resigned. Mantello, a Republican, has hired ProNexus, a third-party accounting firm, in the interim. Mantello says ProNexus has previously worked with the city’s auditor.
“They are not affiliated with the auditor, that would obviously be, you know, a conflict. But they are familiar with our books, which allows us to at least close those books, appropriately,” Mantello said. “They're familiar with our accounting, etc. And so well physically have a person in here, you know, meeting those deadlines. So, we're on a good track.”
Mantello says Piotrowski is helping the city tie up loose ends as she works to hire a full-time comptroller in February.
Even though it’s tax season, the mayor adds she’s confident the city will be able to find a full-time comptroller.
“In our comptroller's office, the checks are being paid, the bills are being paid, the employees’ checks are being delivered,” Mantello said. “So, everybody's getting paid. So that's a good thing. And so, the foundation’s there.”
But Democratic City Council President Sue Steele is concerned about how long it is taking the city to fill the vacancy.
“I hope that the mayor is closing in on filling that position,” Steele said. “It's not, it's not a good place to be without a comptroller. We will be having bond resolutions that will need to be coming forward in order for projects to move forward. And so that requires the expertise of a seasoned comptroller. And so, I'm hoping that that's going to be handled soon.”
The city, which needed a state bailout in the 90s, got some good fiscal news this month when it received its newest S&P Global bond rating, an A+.
It’s the highest short-term rating, meaning the city is strong in meeting its financial obligations. According to the city, the S&P rating is based on the city’s actions toward lowering fixed costs and increasing its bond anticipation note paydown positively, pointing to the fact that it freed up more than $500,000 of earmarked money. Mantello says she plans to meet with the interim comptroller to review and discuss the rating.
Both Mantello and Steele commended the previous city council, which they were members of, and the Madden administration for climbing out of $41 million of debt in less than a decade.
Last year, then-Mayor Patrick Madden said during his State of the City address that the city’s reserves were small but continually growing and bond ratings had been increased three times in a year.
S&P also rated the city’s financial outlook as “stable,” meaning that if Troy’s economy continues to grow, it will “maintain structural balance.”
Steele says she is wary of the ratings stability.
“I think it's a little too early to tell,” Steele said. “I am concerned, the $100,000 in raises that were given out is not a good sign. I think we need to be more prudent. And we need to be more mindful of the rank-and-file employees of the city who are working on a day-to-day basis and not reward department heads or those who have been helpful in one's political campaign perhaps, shall I say?”
Mantello spokesman Chris Watson issued a statement on behalf of the mayor, saying Steele doesn’t have her facts straight about appointments and salaries, adding “if the Council President, as Chair of the Finance Committee, looked at the math, she would see that there are thousands of dollars in savings…Perhaps the council president, in the future, could stay true to her commitment to bipartisanship cooperation, rather than making misleading statements that are purely political.”
