Responsible Capital Borrowing is the Best Course of Action for the City
Barbara Miller Williams, City of Buffalo Comptroller
Recently, I held a press conference regarding the 2025 Capital Bond Sale in response to Mayor Scanlon’s public comments and stance on the matter of Capital Bond sales.
In August 2024, I reminded the Administration, the Buffalo Common Council, and Buffalo Public Schools (BPS) that the City’s debt cap for Fiscal Year (2024–2025) was $28 million. Despite this, in November 2024, the Administration proposed a $110 million capital spending plan for projects such as retrofitting an existing building for the new Da Vinci Campus and renovating city buildings. The Common Council approved this full amount in December – even though it exceeded the legal debt limit. Unfortunately, my advisement was ignored. To help manage the situation, I repeatedly asked the Administration and BPS to provide a ranked list of the most important projects to stay within the $28 million limit.
Despite several requests (in May, July, and August 2025), no list was provided. BPS submitted the same list twice and to date I have not received a list from the Administration. I was disheartened to hear that Mayor Scanlon stated that I was attempting to block city infrastructure projects. As the City’s Fiscal Watchdog, it is my job to ensure the City does not borrow more than is fiscally responsible. Borrowing too much will only further reduce the City’s credit rating (which affects how much it costs to borrow in the future), and places the City in further debt to be paid by future generations.
In fact, Fitch Ratings recently changed the City of Buffalo’s financial outlook from “Stable” to “Negative.” As of June 30, 2025, the total amount of funds available for capital projects was $275.5 million with $128.4 million of grant funds, $20.2 million of already borrowed bond funds, $15.9 million of school project funds and $110.2 million that has already been committed (encumbered) to specific projects. The City’s total current capital debt is $180 million, paid for by property tax dollars.
As City Comptroller, I will move forward with projects that fit within the stated $28 million cap including: $7 million in projects funded through Bond Anticipation Notes (BAN) for Busti Ave, Jefferson Ave, and Cars on Main Street – that receive federal funding and $22 million in school projects approved by New York State and eligible for up to 98% reimbursement. With the remaining $6 million, I hope the Mayor will direct the funding for necessary civic and public safety needs that do not exceed the $28 million total.
I am all about protecting the City's finances. As City Comptroller, I will move forward with the BAN sale in September 2025, whether or not ranked priority project lists are provided to my office. I look forward to working with my colleagues in government and the Capital Planning Committee Representatives to ensure that the cap is adhered to.
At present The Administration and Common Council approved a capital projects budget that was more than allowed, and I will not stand by and authorize this Fiscal irresponsibility. As Comptroller, I will only borrow what is already allocated in the Comptroller’s Estimate and Report.
Barbara Miller Williams
City of Buffalo Comptroller