Ryan leaves Binghamton with improving financial standing

By Conor Mooney

Ryan leaves Binghamton with improving financial standing

December 31, 2013 Updated Dec 31, 2013 at 7:32 PM EDT

Binghamton, NY (WBNG Binghamton) The City of Binghamton's financial standing is improving as mayor Matthew Ryan leaves office.

According to Moody's Corporation, the city's general fund is at it's highest level in 25 years.

The city has maintained its A2 rating, which it hopes to improve after the results of a 2012 audit are released.

During Ryan's time in office, the unassigned fund balance has grown to over $6 million from about $219,000.

Ryan expects the balance to grow to about $9 million.

Though the general fund has been restored, the low ownership rates, poverty and unemployment have hurt city finances.

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