We met with New York State Assemblyman J. Gary Pretlow to discuss Mount Vernon’s fiscal crisis and the case for state financial oversight.
The conversation was direct. Mount Vernon is not experiencing a one-year budget problem. The city has no bond rating, no completed audits since 2020, no reserve funds, and over $60 million in unpaid property taxes. Property taxes have risen more than 40% over the last five years while city services have declined. The City Comptroller has warned that insolvency is possible within two years.
This is not news to Albany. The New York State Comptroller’s office has audited Mount Vernon’s finances multiple times and found serious failures each time. A 2020 audit found that the city had not filed required annual financial reports for fiscal years 2016 through 2019, had produced no audited financial statements since 2015, and had lost its credit rating as a result. A follow-up audit released in January 2022 documented 29 separate recommendations to overhaul the city comptroller’s office, after finding unauthorized electronic disbursements totaling $16.4 million, millions in unpaid bills, and a near-total absence of financial controls. The state has flagged these problems. The city has not fixed them.
Assemblyman Pretlow indicated he is well aware of Mount Vernon’s financial condition. He expressed support for the concept of a state financial monitor and stated that if the Mount Vernon City Council passed a resolution requesting one, he would champion it at the state level.
That last part matters.
A state financial monitor cannot be imposed from Albany without local action first. Under New York’s home rule framework, the City Council must move first. A council resolution requesting state oversight would give the Assemblyman the political and procedural footing to act.
This is now a question for Mount Vernon’s elected council members.
MVCIP’s position is straightforward: the city’s fiscal problems are structural, not cyclical. They will not resolve themselves through another tax increase or another year of delayed audits. Meaningful oversight, with real authority and clear exit conditions, is what a responsible path forward looks like.
We will be bringing this message directly to city council members in the weeks ahead. We encourage residents to do the same.
Download our full report on the fiscal emergency in Mount Vernon here.