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Pictured is Nick Weiser, who said Freed Maxick will “improve” the city’s accounting.
The Dunkirk Common Council approved a series of resolutions aimed at dealing with the city’s financial problems on Tuesday.
The council approved a Revenue Advance Note (RAN) of more than $16.8 million to fund city businesses and satisfy tax mandates. It also hired Buffalo law firm Hodgson Russ to work with the city’s financial consultants, Municipal Solutions, on the note, along with any other bonds needed for Dunkirk’s tax recovery efforts.
Council also hired accounting firm Freed Maxick to consult on the city’s 2025 budget. Another resolution approved hiring financial services firm Three + One to analyze Dunkirk’s cash flow.
The votes on all four measures were 4-0. Councilwoman Nancy Nichols, who is recovering from surgery, missed the second meeting in a row.
Mayor Kate Wdowiasz addressed the council about the financial resolutions, asking members to approve them.
She said the RAN “will be used to pay our outstanding obligations that were not paid under previous administrations, which also includes the $5.9 million RAN that was withdrawn last year, (and) payments to the retirement system state that they have already passed. owed in the amount of approximately US$4.2 million. It will pay for the two truck bombs we need worth $1.7 million, the county tax warrant…and also the school tax warrant.”
Councilman James Stoyle asked about the retirement fund issue: “They’re not going to fine us, right?”
Wdowiasz responded: “We are not accruing any penalties other than interest, but that is negotiable with them at this time.”
Councilman Nick Weiser also made statements regarding the resolutions. He said Freed Maxick will “enhance our accounting services” and Three+One will offer “comprehensive treasury and liquidity analysis.”
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