24-2123 : Wyatt - Requesting a Financial Efficiency Study to Address the City of Buffalo’s Financial Challenge

This resolution, sponsored by Council Member Rasheed N.C. Wyatt, formally requests the Acting Mayor to commission a Financial Efficiency Study to address the City of Buffalo's significant financial challenges. The study aims to provide an in-depth analysis of city expenditures, revenue streams, and operational processes to identify cost-saving measures, optimize resource allocation, and improve departmental performance. It will also explore potential new revenue sources and opportunities for interdepartmental collaboration. The resolution mandates that the Administration and Finance Department, Mayor's Office, and Comptroller be involved in the study's scope, which includes evaluating departmental operations, revenue strategies, and conducting cost-benefit analyses of current programs. The findings and recommendations are to be presented to the Buffalo Common Council and made publicly accessible to ensure transparency and accountability. The resolution also directs the Mayor's Office and Department of Administration and Finance to allocate necessary funding and coordinate with qualified financial consulting firms for the study's completion. The item has been repeatedly tabled by the Finance Committee since December 2024.