Comptroller: After one-time items Peekskill's Q2 shows a $55,000 net surplus

Tony Tracy, the city comptroller, presented the city's 2026 second-quarter budget-to-actual review and said the accounting shows the city roughly on track once one-time items are excluded. "So it is showing a projected excess of about $3,900,000," Tracy said, then explained he removed that one-time pilot payment and a separate $2.5 million bond/insurance-related litigation expense from the operating totals to assess the run rate.

Tracy said after removing those transactions the projected operating excess is about $55,000 and that some revenue lines and expense lines are offsetting each other. He identified meter-parking and parking-fine collections as running low, citing nonworking meters and battery issues, and said the city plans a transition to a new parking app and kiosks to address the shortfall. "We're putting the new kiosks in fairly soon, and that should resolve that revenue issue for us," Tracy said.

On the expense side he flagged higher-than-anticipated costs for advanced-life-support ambulance contracts with the Peekskill Regional Ambulance Service, elevated snow-overtime after additional storms and larger-than-expected pension contributions for police and fire retirement systems, which Tracy said total about $1,000,000 of the unexpected expense. He noted offsetting savings in consultant, contingency and health-insurance lines and projected additional interest income from bond-premium cash invested at higher rates.

The presentation concluded with council members asking for follow-up detail on specific items; Tracy said he would provide answers where he lacked immediate information, including the three-year funding horizon and renewal expectations for the proposed state cybersecurity service agreement.