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Buffalo, NY | Local News, Weather, Traffic, Sports | WGRZ.com

Buffalo City leaders borrow millions from School Board

Depleted reserves, negative cash flow prompt City Hall to borrow millions from School Board to pay its bills.

BUFFALO, N.Y. — In the past decade, Buffalo Mayor Byron Brown and the Common Council have used $107 million in reserves to close budget shortfalls. As a result, the city has no reserves left to plug future deficits.

The lack of reserves has contributed to a problem — poor cash flow — that resulted in the city running out of money entirely in January. That prompted the city to borrow from what might appear an unlikely source: the Buffalo Public Schools. 

 For more on this story, please visit the Investigative Post website.