BUFFALO, N.Y. (WKBW) — Buffalo City Comptroller Barbara Miller-Williams held a public meeting to explain her ongoing dispute with Acting Mayor Chris Scanlon over her refusal to issue bonds for capital projects, which has resulted in a lawsuit against her office.
The meeting took place at the Buffalo and Erie County Public Library at Lafayette Square, where Miller-Williams broke down the role of the comptroller, the capital borrowing process and fiscal responsibility to residents.
The comptroller emphasized her commitment to ensuring city dollars are spent wisely and prudently, noting that a significant portion of Buffalo's budget consists of fixed or contractual obligations.
Within the last month, credit rating agencies Fitch Ratings and S&P Global Ratings released a low rating for the City of Buffalo's bond ratings outlook, citing concerns over weakened financial performance and fiscal pressures.
Miller-Williams said will increase the city's borrowing costs.
"They reduced our long-term outlook from 'stable' to 'negative'. What does that mean to each and every one of you in this room? It means that when I do go to market to borrow, I'm going to be borrowing at a higher rate," Miller-Williams said.
A resident at the meeting questioned the lack of prioritization in the city's spending approach.
"How do you just say, 'Here is $110 million and do your best at it? No priority, no numbering of it; that's irresponsible and reckless," the resident said.
Miller-Williams said she has made numerous requests for a ranked priority list that would keep the city within the $28 million cap. To date, she says no one has provided her with a revised ranked list.
The comptroller is scheduled to give an oral argument in court on September 22.
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