RBA CEO: Alternatives Needed to State-Funded Debt

A report released last week by New York’s comptroller’s office has the head of a Rockland business group concerned. Comptroller Tom DiNapoli projects state-funded debt will reach $63.7 billion by the end of the current fiscal year and will increase to $71.8 billion in another four years. Rockland Business Association CEO Al Samuels says municipalities need to find better ways of financing projects…

Audio: Al Samuels

DiNapoli says wise use of debt can be an essential part of the financing picture, but backdoor borrowing imposes significant costs on taxpayers, lacks transparency and may limit flexibility in providing important services and programs. DiNapoli has called for reforms to New York’s use of debt, including better capital planning for infrastructure projects.

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