Glens Falls' finances iffy, comptroller warns

[hrmjustin]

MAURY THOMPSON

GLENS FALLS -- The city’s debt, deficit spending and subsidy of the Glens Falls Civic Center have brought Glens Falls to the brink of financial stress, state Comptroller Thomas DiNapoli warned.

“They’re not at a level of stress. It’s just a bright yellow light not to go in that direction,” DiNapoli said Thursday in a press conference at City Hall.

DiNapoli discussed the city’s “2014 Fiscal Profile,” which his office recently completed.

The city received a 44.6 percent score, based on 2012 financial data, which is close to the 45 percent score that indicates a municipality is “susceptible to stress,”

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