POUGHKEEPSIE – Dutchess County government ended 2016 with $2.5 million more in its unassigned general fund balance, bringing the total to $59.6 million. A state-required independent audit concluded that the county’s financial picture is sound.
County Executive Marcus Molinaro said that was accomplished through a slight increase in some revenue areas and hold the line spending across the board.
“That generated a modest surplus which added to the county’s rainy day reserve, which then we used for property tax relief and to defer any debt and commit to capital projects that we are not borrowing for certain projects, but rather using the county reserve to do that,” he said.
Molinaro noted the county must continue to maintain a strong fund balance to retain its AA+ bond rating and is able to absorb sudden financial changes, such as a sales tax downturn or changes to state or federal funding.
The county is also in the midst of negotiations with two of its unions, with contracts having expired at the end of 2016.
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