UTICA — Robert Cardillo, who is running for mayor of Utica, said that if he is elected, he will be a “fiscal hawk” to make sure that the city’s fund balance stays strong in the next administration.

“The current administration has worked tirelessly to build up the city’s savings account,” Cardillo said. “The next mayor must continue to act diligently to make sure that the city has a solid financial foundation.”

Cardillo pointed to the recent bank failures at Silicon Valley Bank and Signature Bank have given rise to potentially dire economic consequences. He points out that combining bank failures with inflation, supply chain imbalances and the war in Ukraine can lead to further, unacceptable distress for families, small businesses, and municipalities in the near and long term.

“The City of Utica must remain vigilant by protecting its assets and investments. We must be prepared to tighten our belts and take urgent steps toward more fiscal prudence, if necessary,” said Cardillo.

Cardillo added, “Utica can count on me to be a frequent presence in the halls of Albany and Washington to lobby state and federal leaders and fight daily to make sure Utica continues to get its fair share of funding to meet its urgent challenges.”

Noting that the economy is volatile, Cardillo emphasized that “it is even more important to keep an eye on our balance sheet while continuing to hold the line against any tax increases in the forthcoming mayor’s budgets. … I will work full-time to make sure all departments proceed with caution to maintain the city’s good bond rating.”