Utica stays afloat in weak financial waters

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WKTV News

Story Created: Oct 3, 2008 at 5:33 PM EDT

Story Updated: Oct 3, 2008 at 5:33 PM EDT

UTICA, N.Y. (WKTV) - It appears, for now, the city of Utica may be able to tread water in these uncertain financial times. The reason, the city never felt the upswing from skyrocketing house prices or the windfall from an over-inflated stock market. As a result, the city is also avoiding the plummeting fate of thousands of other cities across the country.

"We here in Utica, thank God, are not in as bad a situation as the rest of the country. Though we do have our problems because the state is facing major cutbacks that will effect us down the road," Mayor David Roefaro said.

The next test for Utica's financial fitness wil be the results of the crucial second quarter budget numbers. They are expected to be released in the next two weeks.

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