POUGHKEEPSIE – Dutchess County Comptroller James Coughlan gave County Executive Marcus Molinaro good grades on Friday for his proposed $467 million county budget for next year.
Lowering the tax levy for the third year in a row continues the county’s “commitment to reduce the burden on taxpayers while maintaining key services,” said Coughlan. The budget is “smart” with “new initiatives.”
“I think that it balances a lot of the needs that we have with the revenues that we must capture and I think overall it is a very balanced and respectful budget and I fully support it,” Coughlan said.
The comptroller said the spending plan, which includes a reduction in debt service by $1.7 million compared to 2016 by using county cash-on-hand, will save the county interest and bond issuing costs to fund 2017 capital projects.
The use of $8.75 million of general fund balance and $3.5 million from the taxpayer protected funds will provide tax relief while maintaining the fiscal stability of the county.
“Even with the use of these funds, the county will still be able to maintain fund balance at 10 percent of our general operating fund, which is recommended by the state comptroller and external auditors,” Coughlan said.
He cautioned, though, that the county “needs to remain vigilant in maintaining reserves to provide the necessary flexibility to weather any unexpected variables throughout the year.”
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