Sain building sale pending
NEW CITY – Rockland County’s deficit fund balance that totaled $138 million four years ago is expected to be paid off by the end of the year, according to the county legislature’s independent auditing firm.
According to the audit by Marks Paneth, the 2015 deficit fund balance was $16 million. By 2016 it was down to $4 million. The county is continuing to pay off the $96 million deficit at a rate of $13.2 million per year, county officials said.
County Executive Edwin Day urged the county legislature to approve the sale of the county-owned Sain building for $4.51 million so that the proceeds could be put toward settling union contracts with county employees.