Saratoga Springs Mayor John Safford and Finance Commissioner JoAnne Kiernan on city's budget deficit, June 5th, 2026

Saratoga Springs, NY — Following an update on the city's finances, displaying a potential $5.1 million budget deficit, the Saratoga City Council approved a hiring freeze on Tuesday night. Finance Commissioner JoAnne Kiernan, who started her term in January 2026, showed the Council a powerpoint presentation detailing the City's financial situation. Kiernan tied the deficit in part to increasing overtime costs, health insurance, retirement and liability insurance. "Our employees and their benefits are 83% of our budget, so any employee-related thing is very expensive," Kiernan told CBS6 on Wednesday. "Everyone is seeing increased utility costs, increased material costs. It's just everything we're in an inflationary period, everything's more expensive." She says the hiring freeze is an "interim solution", giving them time to look deeper into the budget itself. They will now form a recovery leadership team, review vacant positions, identify critical positions and review purchasing, all while developing a revised 2026 budget. 0:00 – Intro & Fiscal SnapshotSetup of the interview and basic outline of the deficit. 1:30 – Deficit Numbers & Unsound BudgetHow the gap grew and why 2025’s budget was a problem. 3:00 – Message to TaxpayersWhy residents need to understand the situation. 4:45 – Public Safety Costs & OvertimeFire/police staffing, overtime, and SAFER grant impact. 8:50 – Structural Budget IssuesOne-year budgeting and missing long-term projections. 10:45 – Hiring Freeze & Immediate ControlsFire hiring freeze and early cost-containment steps. 14:10 – Revenue & BelmontSales, occupancy, parking, cannabis, and Belmont’s net effect. 20:40 – Fund Balance RisksDrawdown of reserves and charter minimum concerns. 23:10 – Looking AheadVacancy review, contract talks, efficiencies, and audits. Learn more about your ad choices. Visit megaphone.fm/adchoices