Friday, July 14, 2017

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Westchester ends 2016 with $1.5 million surplus

WHITE PLAINS – The annual audit of Westchester County Government for 2016 shows the county ended the year with a $1.5 million surplus. The report was prepared by the county Finance Department and audited by the certified public accounting firm of PKF O’Connor Davies.

Positive indicators in the report include an unemployment rate of 4.1 percent in April 2017, below the state’s 4.3  percent and the national average of 4.4 percent; a steady growth in wages to $29.2 billion in 2015, up from $25.4 billion in 2010; and the highest credit rating of any county in the state.

On the expense side, the county’s 2016 budget of $1.8 billion was less than it was in 2010, at $1.82 billion. On the revenue side, sales and mortgage taxes were up and sales of surplus county properties increased.

“Since taking office, we’ve worked hard to deliver essential services and a balanced budget – all while either lowering or holding the county tax levy flat for seven consecutive years,” County Executive Robert Astorino said on Thursday. “Our latest financial results show that the public benefits when county government couples fiscal discipline with a commitment to finding new ways to get the most value out of every hard-earned tax dollar.”

 


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