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Erie County's fiscal stress decreases in latest NYS comptroller report

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Mon, Sep 30th 2019 07:25 pm

Comptroller DiNapoli’s report examines FY 2018 fiscal indicators such as fund balance, revenues, employee expenses, debt service, cash & investments, others

Score of 40.8 reflects reduction of nearly 15 points from 2016 ranking, leads to ‘no designation’ status

Erie County is feeling less fiscal stress for 2018, according to a report issued by New York State Comptroller Thomas DiNapoli examining the fiscal conditions of municipalities across the state. The fiscal strength indicator report scrutinizes nine specific fiscal areas, such as assigned unappropriated and unassigned fund balance, gross expenditures, gross revenues, personal service and employee benefits, and debt service. These indicators are then scored and the total points derived result in each municipality’s fiscal stress classification, from “significant” (65-100 points) to “moderate,” “susceptible,” and “no designation” (0-44.9 points). Erie County’s significantly improved score of 40.8 puts it comfortably in the lowest fiscal stress category, “no designation.”

“Comptroller DiNapoli’s report is welcome news and demonstrates that my administration’s prudent fiscal policies and wise stewardship of county finances are making a difference. This is the result of good budgeting, retiring more county debt, and keeping a close eye on revenues and fund balance,” Erie County Executive Mark C. Poloncarz said. “After a lot of work, our score has moved into the ‘no designation’ category and we are seeing what good governance and leadership can produce. I thank our Division of Budget and Management for their solid and stable work, which is demonstrated in this report and is good news for all of Erie County.”

For 2016, Erie County’s score of 55.0 placed it in the “moderate fiscal stress” category, while, for 2017, that score had fallen to 50.0, resulting in a “susceptible fiscal stress” rating. The 2018-related decrease (-9.2 points) to 40.8 is largely a benefit due to the county’s improved fund balance position for 2018.

For more information on the Erie County Division of Budget and Management, visit http://www2.erie.gov/budget/.

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