A Rochester-area car dealership threatened to report the City of Binghamton after a bill for six police vehicles went unpaid. Van Bortel Ford had a bill of over $164,000 for the city, and considered reporting Binghamton to Moody’s Investors Services.
The city was forced to take emergency actions to avoid harming the municipality’s credit rating. Binghamton had initially planned to either borrow money to buy the vehicles, or lease them. The plan to add the vehicles was approved by council and included in the 2013 budget. City officials looked to reach a leasing arrangement with U.S. Bancorp when it ordered six 2013 Ford Explorers, however, U.S. Bancorp refused to finance the lease arrangement until Binghamton presented an audit of the city’s finances. Now, the city’s Board of Estimate and Apportionment has approved a budget-transfer to pay the dealership.
The money came from the city’s operating budget, with council granting approval for the funding in this year’s budget.
