NEW CITY – Rockland County Government’s unassigned fund balance has gone from $6.2 million in 2017 to $32.2 million in 2018. County Executive Edwin Day called that “a huge step forward for the fiscal stability of Rockland despite the approximately $13.5 million deficit bond payment we must make every year.”
In 2014 when Day took office, the county faced a $138 million deficit and with cooperation of the county legislature, they took out a $96 million deficit reduction bond. The county must make the $13.5 million payment on the bond every year until 2023.
The independent audit for 2018, just completed, was conducted by Marks Paneth LLP.
Day said the county will continue to “conservatively estimate future sales tax revenue while we hold the line on expenses.” He credited the employees, department heads, commissioners, unions and county legislature for working together to “accomplish so much in such a short amount of time.”
