Comptroller Miller Williams Releases Annual Comptrollers Estimate and Report

Comptroller Miller Williams

As City of Buffalo Comptroller, I have released my Annual Comptroller’s Estimate and Report, which looks at the City’s Capital Projects, borrowing capacity, and overall financial health. In simple terms, this report helps answer an important question: How much can Buffalo afford to borrow and spend on major projects while keeping our finances strong?

Capital Projects are important because they help improve our roads, buildings, public spaces, infrastructure, and schools. As of June 30, 2026, the city had $387.3 million in open Capital Projects. This includes money that has already been committed, grant funding, available bond funds, and funding for Buffalo Public Schools. The city also has $82.2 million in approved projects that have not yet been financed.

While Buffalo can borrow more money than it did last year, that does NOT mean the city should borrow more. For 2027, the City’s debt capacity is $36 million, with a total five year limit of $216 million. My message is simple: We need to borrow wisely and only for projects that truly benefit Buffalo.

We must make sure every major project is carefully planned, properly budgeted, and completed in a timely manner. Borrowing money costs taxpayers money, so we need to make every dollar count. The city currently has $45.9 million in unspent bond proceeds. Some of these funds have been unused for several years. When borrowed money is not used, the city is still paying interest on it. That is why we need to do a better job of moving projects forward and making sure borrowed funds are put to work.

The City also expects to issue approximately $77.55 million in debt for the Buffalo School District. Most of this is expected to be reimbursed through State Building Aid, once the required building permits are received. Investing in our schools means investing in Buffalo’s children and our city’s future.

While Buffalo’s financial capacity has improved, we must remain careful and responsible. Having the ability to borrow does not mean we should borrow simply because we can. As Comptroller, I will continue to advocate for responsible spending, stronger financial planning, transpar ency, and accountability. Sound financial decisions today will help protect Buffalo taxpayers and build a stronger City for future generations.