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The committee confirmed that Albany will not meet the April 30 deadline for closing its books set by the Comptroller’s Office. Members also unanimously agreed to cosponsor draft legislation that would require greater Council awareness and response to certain budget and fund-balance changes.
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The committee is seeking more information and control over budget transfers, including movements from reserve funds. Council members have not yet approved the proposed legislation or a debt-reserve transfer; both remain subject to future discussion and votes. Members may request a state budget review by June 1, while revenue shortfalls and limited access to invoices and purchase orders remain unresolved.
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