Audit: Niagara Falls will run out of cash reserves by year’s end due to casino dispute

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From the Buffalo News:

The City of Niagara Falls will run out of its fund balance by the end of the year because of a dispute over Seneca casino revenue, according to an audit issued Tuesday by the state Comptroller’s Office.

The city, caught in the middle of a dispute over the sharing of casino revenue between the state and the Seneca Nation of Indians, also has failed to maintain an updated multi-year financial plan, according to the audit.

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