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