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[0:02]
Okay, we're live. Good afternoon
everyone. The Board of Estimate comes to
[0:06]
order.
Today's date is Tuesday, August 18th,
[0:10]
2026.
It's 4:00 p.m.
[0:13]
We have
everyone here, myself, Chief City
[0:17]
Auditor,
representing Mayor.
[0:20]
Of course, Cruz is
Joel Stefanski, Chief Financial Manager.
[0:26]
» [clears throat]
>> Treasurer,
[0:27]
Gary Schaer is here, Common Council
President. Kim Rows here representing
[0:32]
Councilman Raymond Lopez.
[0:36]
» Okay, um
to start off
[0:41]
uh we want to
skip ahead to the uh
[0:47]
items from the
from the Water Authority
[0:51]
because we have
Nick Riley here who
[0:55]
uh
[0:58]
who was uh in cycle last time on this
issue last week.
[1:02]
Well,
there was some issues when he came back,
[1:04]
so he has to pick up his kids. So,
I'm asking for a motion to skip ahead to
[1:09]
the water authority.
>> So moved.
[1:11]
» Second.
>> Okay. All in favor?
[1:13]
» Aye.
>> Opposed?
[1:15]
Unanimous. Okay. So, first item from
2026, this is an increased appropriation
[1:21]
from water. It's increasing revenue from
PSC
[1:26]
PSC financing increased revenue formerly
$45,130.
[1:32]
Increased revenue New York State PSC aid
of $1,311,060.
[1:38]
And then increased expenses to be
distribution capital outlay of
[1:43]
$3,402,630.
Increased uh
[1:48]
expense for sewer separation capital of
$2,363,000
[1:54]
$560.
And as you can see, for proposing an
[1:57]
increase in revenue and increase in
expense. It's both increasing 507,66190
[2:06]
and the sole explanation is the source
of funding will be ESC financing the
[2:10]
projects. The budget will be used to
create PO for CT [clears throat] mail,
[2:15]
Newcastle, CH
and Hackett Boulevard projects.
[2:19]
Um, are there any questions?
>> So, last time the the problem we ran
[2:24]
into was that we were
uh increasing expenses to appropriate
[2:29]
accounts, right?
>> To a balance sheet account, yeah.
[2:31]
» Balance sheet accounts, right? This This
is a remedy for that?
[2:34]
» Yep.
>> All right.
[2:35]
» We're going to show them this from the
packet, so they know.
[2:37]
» Yep.
>> Okay.
[2:38]
» Okay.
>> So, I know you have to go.
[2:41]
Anything else you want to add?
>> That was
[2:43]
» Good job, Nick.
>> I thought there might be more questions.
[2:46]
Last time we spent like [clears throat]
20 minutes figuring out
[2:48]
» I think we did most of the legwork last
time, but
[2:50]
yeah, thank you for
for getting the problem solved here.
[2:55]
» I'll give you chief credit article for
uh supplying copious backup documents.
[3:00]
» [laughter]
>> Which I don't know if you need them
[3:02]
again, but
any
[3:07]
» session and any questions?
>> Uh I have some questions we have,
[3:11]
» Do you have your questions now?
>> Okay.
[3:13]
» Um
So, we should do legal settlements first
[3:17]
and then we'll do
[3:19]
» Yeah, okay.
>> So, legal settlements uh 2026
[3:25]
I don't know if you
Legal settlement of
[3:28]
Christine Garabedian versus City of
Albany in the sum of $220.00 and no
[3:34]
cents.
Legal settlement of Frank Torrali
[3:38]
versus City of Albany in the sum of
$189.
[3:43]
And there are
attachments for these
[3:48]
settlements as well.
>> Oh, is there?
[3:52]
» Anyone has any questions? If they're
not,
[3:54]
» Um
[3:58]
» [clears throat]
>> What are they for?
[4:08]
» [clears throat]
>> And your office recommends approval?
[4:15]
» I'll make the motion to accept the
agenda.
[4:17]
» I'll second.
>> All in favor?
[4:20]
» Aye.
>> Opposed?
[4:22]
It passed unanimously. I need a motion
to adjourn.
[4:24]
» So moved.
>> Second.
[4:27]
» All in favor?
>> Aye.
[4:29]
» Opposed?
Meeting is adjourned.
[4:32]
» Okay.
>> Same job.