TROY COUNCIL DEMOCRATS: MAYOR MANTELLO VIOLATED CITY CODE FOR QUARTERLY FINANCIAL PRESENTATION, MISSING REPORTS
- Mark D
- Mar 20
- 3 min read
Public Presentation of Preliminary Fourth Quarter Financial Report for 2024 Overdue in Violation of City Code |
Then-Council President Mantello Voted to Require Annual Presentation of Fourth Quarter Financial Statements |
Council Democrats Demand Immediate Action by Mayor to Provide Accurate Financial Documents to Full Council |
Troy, New York (March 20, 2025) - Council President Sue Steele and Councilmembers Katie Spain-McLaren and Aaron Vera today issued a joint statement on Mayor Mantello’s failure to present the preliminary fourth quarter financial report during the February 2025 council meeting as required under the City Code. The three-member Democratic caucus has pushed for more transparency from Mayor Mantello’s administration on city spending, taxes, and revenues.
“For more than a year, the administration has failed to provide accurate and timely financial reports to the city council. Despite our efforts to help address vacancies in the Finance Department, including the hiring of a new city comptroller, the mayor continues to ignore the City Code which requires transparency about our taxes and spending. Things must change, and they need to change immediately for the long-term stability of Troy’s finances.”
Pursuant to City Code, the Mantello administration was required to present a preliminary Fourth Quarter Financial Report (covering October-December 2024) to the City Council in February 2025 ( https://ecode360.com/15642206). The Democratic caucus noted then-Council President Mantello voted to require the annual presentation during the month of February. The council will discuss the issue at Thursday’s meeting at City Hall.
Troy’s Financial Problems
Council Democrats have continued to raise questions about serious issues involving the city's finances, including the 2025 budget, missing quarterly reports, insufficient money in the city’s contingency fund, inaccurate figures, and overdue audits of the city's finances. The administration has also struggled to meet recurring financial obligations, including:
Additionally, the administration continues to rely on outside financial consultants to run day-to-day operations for the Finance Department. Since January 2024, more than $300,000 has been spent on outside consultants. These consultants are expected to continue working for the administration through the end of 2025.
Troy residents previously learned the Mantello administration failed to pay $184,000 in rent-related charges for 2024. Earlier this week, the mayor released a bizarre campaign-style video that attacked the city’s landlord and denied the city’s financial obligations under the current lease.
“The lease negotiated by Mayor Mantello for city hall’s rent includes maintenance fees, something every previous administration has paid without incident,” said Council President Steele. “That’s what makes this latest incident so concerning as we press the mayor for more transparency and honesty about the health of Troy’s finances. How can residents trust the mayor to purchase a new building for city hall when they can’t even pay our bills?” |
Recent News
Watch the full story—News10: Legal battle brewing over Troy’s City Hall rent payments: The Mantello administration missed a $241,600 interest payment in January 2025 for debt issued to fund public improvement projects.
As the city’s 2024 fiscal year came to a close, the Mantello administration failed to file an audit of Troy’s 2023 finances by the Dec. 31, 2024 deadline.
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