[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.