The crisis at Mount Vernon City Hall continues, with some concerned that the city could run out of money.

At the swearing in of new City Council President Andre Wallace, Mayor Richard Thomas proposed a truce, signaling a possible end to political infighting that has plagued the Thomas administration.

But the proposed change seems to have never come -- Mount Vernon has since had its Moody credit rating stripped away, and there is still no finalized 2019 budget.

"We are paying millions out, but we are not collecting any more because there is no budget, so therefore we can't collect taxes," says Wallace.

Mayor Thomas says the city's financial issues are the fault of Comptroller Deborah Reynolds and the City Council. He accused her of mismanaging city funds and blamed City Council for withholding funding on an audit that resulted in the loss of its credit rating. Thomas had his inspector general, a man who once aided him in his criminal case, draft a report that backed up his claims.

Reynolds insists the mayor is at fault, and tells News 12 she is suing him to make him do his job. Wallace took her side Tuesday, saying, "The mayor is not cooperating in a manner we need to close the books."