Schenectady in the red
The city of Schenectady ended 2011 about $5 million in the hole, according to an annual report filed with the New York State Comptroller's Office.
The shortfall is due primarily to tax collections, which were $3.4 million below the anticipated $28.2 milllion in the city's budget.
If you're interested in all of the city's budgeting ups, including $500,000 of unanticipated funds from interest and penalties on late payments, and the downs, like the sudden drop-off of revenue from American Tax Funding, view the entire report below.
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Schenectady 2011 Budget Report