POUGHKEEPSIE – Dutchess County ended 2022 with a fund balance, a so-called “rainy day fund,” of $72.5 million and provides some ability to mitigate negative economic impacts or new cost shifts from the state or federal government, county officials said.
“Together with the county legislature, we have built a solid fiscal foundation for Dutchess County’s future with smart choices and careful, conservative management,” said County Executive Bill O’Neil. “We need to be ever vigilant as we know how quickly conditions can change, particularly as New York State seeks to push down more costs onto county taxpayers in the 2023-24 state budget.”
In 2022, with fund balance reserves of $119.5 million, the county cut taxes, paid down debt and funded critical projects with cash rather than financing through bonds.
The county also established a Housing Trust Fund with $12.3 million in unassigned fund balance. Of that, $9.3 million will come from the federal American Rescue Plan.
