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State audit cites Saratoga Springs for loans to cover deficits

Review of city finances generally favorable

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Saratoga Springs city officials must stop loaning money from the city’s general fund to the water and sewer funds to make up deficits in those accounts, a newly released state audit found. “During the period reviewed, the [city] council did not address cash flow problems in the water and sewer funds,” says the audit released Thursday by state Comptroller Thomas DiNapoli. “Instead the council routinely relied on increasing amounts of interfund loans from the general ...

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