According to a former council member who is running for Mayor of Niagara Falls, the city is on the verge insolvency.
John Accardo, one of three Republicans in the race for mayor, says Niagara Falls is facing a $7 million budget shortfall. The city, he claims, is at its taxing limit and the budget shows revenues declining.
Accardo is calling on the state comptroller to once again review the city's finances.
"Since he (Comptroller Thomas DiNapoli) was so critical two years ago, I can't see how he could be any more encouraging here in 2015," Accardo said.
Democratic Mayor Paul Dyster admits the city is facing some major challenges. He says more than half of the shortfall is due to resolving four years worth of city union contracts.
"But I also want to assure people that the city is solvent," Dyster said.
"We have millions of dollars in fund balance that's available. We're prepared to cover the expenses that we anticipate."