ECFSA Board unanimously approves resolution finding county financial plan complete, compliant with NY Public Authorities Law
ECFSA: “County’s fiscal management has been exemplary among local governments in navigating financial issues related to the COVID-19 pandemic”
The Erie County Fiscal Stability Authority board of directors on Friday unanimously passed a resolution approving the proposed 2021 Erie County budget and accompanying four-year plan, submitted by the administration Oct. 15. In a resolution, the ECFSA board stated, “The 2021-2024 Plan contains actions sufficient to ensure with respect to the major operating funds for each fiscal year of the plan – including budget year 2021 and the Out Years – that annual aggregate operating expenses for such fiscal year shall not exceed annual aggregate operating revenues for such fiscal year,” and, “The 2021-2024 Plan is complete and otherwise complies with the requirements of Section 3957 and the ECFSA Act.”
ECFSA analysis of the 2021 proposed budget and plan also noted, “The county’s ongoing and, current year, in particular fiscal management, has been exemplary, among local governments, in navigating the financial issues related to the COVID-19 pandemic. The county has adjusted its budget and staffing levels in a way to still provide mandated and desired services while not using if-come revenues,” and, “Erie County has been proactive in dealing with the potentially devastating health and financial impacts of the COVID-19 pandemic.” It concluded, “In closing, we want to reiterate that the county, leading up to and during pandemic, has performed admirably in protecting the health of its residents and on the related financial and economic issues. The county is positioned to rebound once the pandemic is alleviated.”
Erie County Executive Mark Poloncarz said, “I thank the Erie County Fiscal Stability Authority Board for their analysis of the proposed budget and four-year plan and for their affirming vote. The board’s approval reinforces the fact that this is a prudent and reasonable financial blueprint for Erie County to follow as we work through the COVID-19 pandemic and into the future. This proposed budget was not easy to produce and required my team and I to make hard choices, as the position we are in was not created by any action or mistake of our own. Despite those challenges, we produced a balanced proposed budget that protects public health, lowers the property tax rate, and invests in infrastructure while staying fiscally cautious.”
The 2021 proposed budget is now before the Erie County Legislature, which must vote on it by Dec. 8.