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BINGHAMTON, N.Y. -- Binghamton Mayor Matt Ryan is preparing his annual budget address, which he will present to the public next Monday in the Binghamton Council chambers.

Speaking with the media on Tuesday, Mayor Ryan says that over the past six years, he has consistently done more with less than the six years before him. He says that working closely with department heads over the past yea,r he knows that they are coming to the table with difficult budgets with less spending than they would like in order to compensate for the difficult recession.

Ryan believes that going forward the city needs to tackle the pension fund in order to better prepare the city for years to come.

"The ever increasing pension costs which have gone up over 3,000 percent since 2002. I mean, from $330,000 that year to now more than $9 million a year. That has more than gobbled up, consumed, all of our savings. It's very frustrating that we do all this hard work and we are still behind the eight ball," Ryan said.

Ryan says that he will be presenting a solution to the ballooning pension costs in his address. Part of the plan will include an increase in taxes.

If you would like to hear all of the mayor’s comments to the media about the budget, watch the video below.

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