Originally Published on January 28, 2026

In 2020, the New York State Comptroller (OSC) issued a scathing audit exposing Mount Vernon’s financial collapse: missing annual reports, nonexistent audits, no long-term planning, and a City government completely unprepared to handle its own finances.Five years later, in December 2025, OSC conducted a follow-up review.The Comptroller claimed he “reconciled years of data.”But the actual follow-up findings are brutal:

Only 3 of the 11 required reforms were completed.

4 were only half-done.

4 weren’t done at all.

And while essential financial work remains unfinished, the Mayor continues taking taxpayer-funded trips — approved by the same Comptroller who still can’t produce on-time financial reports.This is what OSC asked the city to do, and Mount Vernon failed to do so.

🔴 UNFULFILLED RECOMMENDATIONS (4 of 11)

These are the highest-risk failures — still not fixed as of 2025.

1. Provide Regular Interim Financial Reports (Comptroller)

STATUS: ❌ Not ImplementedMeaning:Still no consistent:

• Monthly budget-to-actual reports
• Cash flow reports
• Fund balance updates

The Council and public still cannot see what the City is spending or what it has left.

2. Develop a Multiyear Financial & Capital Plan (Council & Mayor)

STATUS: ❌ Not ImplementedMeaning:Mount Vernon STILL has:

• No long-term financial plan
• No capital plan
• No forecasting of future needs
• No infrastructure roadmap

The City is running year-to-year with no strategic vision.

3. Re-establish the Capital Projects Board (Mayor)

STATUS: ❌ Not ImplementedMeaning:The board legally responsible for overseeing capital spending does not exist.No oversight.No independent review.No check on multimillion-dollar spending.This is a major dereliction of duty by the Mayor.

4. File Required Annual Financial Reports on Time (Comptroller)

STATUS: ❌ Not ImplementedDelinquent AFRs:

• 2021
• 2022
• 2023
• 2024

These reports are years overdue — some by more than a thousand days.This is the SINGLE biggest reason Mount Vernon still has no credit rating.

🟡 PARTIALLY IMPLEMENTED RECOMMENDATIONS 

(4 of 11)

These were started… but NOT finished.That means risk remains.

5. Develop Comprehensive Financial Policies (Council)

STATUS: ⚠️ Partially ImplementedStill missing policies on:

• Cash flow
• Budget monitoring
• Internal controls
• Fund balance standards

Without these, AFR delays will continue.

6. Adopt Timely, Detailed Budgets (Council & Board of Estimate)

STATUS: ⚠️ Partially ImplementedBudgets still lack:

• Required comparative data
• Required federal/state supplemental reports
• Consistent adherence to deadlines

The City is still budgeting in the dark.

7. Ensure Charter Budget Process is Followed (Board of Estimate)

STATUS: ⚠️ Partially ImplementedDeadlines are ignored.Procedural steps inconsistent.Still no smooth process.

8. Provide Interim Reporting to the Council (Comptroller)

STATUS: ⚠️ Partially ImplementedSome reports were provided — but not consistently, not timely, and not comprehensive.

What “No Credit Rating” Means — Explained Like You’re Tired of the Excuses

Since 2019, Mount Vernon has had no credit rating from Moody’s or any rating agency.Here’s why that matters:

A credit rating is a City’s financial reputation.

It’s like a FICO score — but for municipalities.Without one:

• The City can’t borrow affordably
• Can’t refinance debt
• Can’t fund infrastructure
• Can’t attract investors
• Pays more for everything
• Appears unstable and mismanaged

No credit rating = no trust. Without a credit rating, financing appears to have fallen squarely on taxpayers.And the reason Mount Vernon STILL has no rating? The Comptroller has not delivered:

• Current AFRs
• Complete audits
• A consistent reporting system

And the Mayor has done nothing to demand it — but has approved and taken taxpayer-funded travel while the City’s finances remain unresolved.No credit rating is not a technical issue. It is a sign of failed leadership.

THE VOICE EDITORIAL OPINION

Mount Vernon cannot pretend this is normal.The 2025 follow-up makes one thing clear:

The Mayor and Comptroller fixed what they had to — and ignored what they did not want to.

They have:

• Patched over old failures,
• Allowed new failures to pile up,
• Celebrated partial compliance,
• Approved trips and spending while essential reporting goes undone, and
• Continued hiring political allies rather than credentialed CPAs or auditing professionals.

This is not governance.This is maintenance of power.Residents deserve more than excuses, press releases, and self-congratulation.They deserve:

• On-time financial reports
• Annual audits
• A restored credit rating
• A real capital plan
• Qualified financial leadership
• Transparency
• Accountability
• Competence

Until that happens, The Voice of Mount Vernon will continue to shine the light that City Hall keeps trying to dim.Because the truth is simple:

You cannot fix a city by fixing only the parts you feel like fixing.

You fix it by doing the work — every part of it — every year.

And right now?Mount Vernon’s leaders still aren’t doing the work.

Stay informed. Stay involved. The time to act is NOW!

The Voice of Mount Vernon is a community watchdog group that provides editorialized opinion on local leadership. We are not affiliated with any political party. Our platform includes news briefs, editorials, and independently written Op-Eds. We are open to relevant corrections. Voicing concerns under the First Amendment.