County reveals preliminary numbers for upcoming budget
CHENANGO COUNTY – Chenango County policy makers are set to review preliminary figures of the county’s proposed 2015 annual budget, which calls for a relatively modest 1.78 percent increase for local taxpayers.
Despite a more stringent state mandated tax cap this year of approximately 1.9 percent for Chenango County, the $86.9 million budget falls under the tax cap threshold for the fourth consecutive year. According to Chenango County Treasurer Bill Craine, the county saw a total $81,418 (.09 percent) increase in spending over last year’s budget but still falls marginally short of the state mandated tax cap by about $15,000.
This means unless the numbers change before going to vote, the average taxpayer can expect to pay 13 cents per $1,000 of assessed value more than they did in 2014, said Crain (which equals approximately $12 more for the year for the average residence). Individual town rates will vary depending on equalization rates and assessed value totals.
“Our biggest challenge this year has been gaining revenue while sales taxes are flat,” Craine said, citing sales taxes that fell below anticipated throughout the summer. Sales tax statewide has been less than exciting this year, he added.
Even so, the suggested budget keeps the county debt free and off the list of “fiscally stressed” governments tracked by the New York State Comptroller’s Office. It additionally retains the financial precept of keeping a minimum $15 million in general fund surplus. The estimated surplus balance, which is not earmarked, stands at approximately $17 million.
Said Craine, “I think we have made good progress by trying to do the right things for the county. We’re careful with every dollar that’s entrusted with us.”
The proposed budget further lessens the application of the 2014 general fund surplus funds toward reducing the 2015 budget by $210,000 to $2.67 million, making this the fourth consecutive reduction from the $3.68 million that was applied to balance the budget in 2011. It does, however, eliminate seven full-time positions in five county-run programs including the Area Agency on Aging, Department of Social Services, Public Health, Facilities, and Mental Health.
The plan also continues the cell four development project at the county landfill in Pharsalia (currently the county’s largest capital project), keeps the equipment replacement program for the county road system, and finalizes the court facility move to the Eaton Center.
Craine said county officials developed a budget keeping in mind six key financial precepts:
• Have a balanced budget using reasonable revenue and expense expectations
• Adhere to the tax cap (pending exigent circumstances)
• Maintain a NYS Comptroller’s rating of “not in fiscal stress”
• Remain debt free
• Maintain a minimum of $15 million in general fund surplus
• Over the course of five years, reduce application of the general fund surplus applied to the following year’s budget to $1.5 million
County officials are likely to call for a public hearing on the proposed 2015 budget for late November.
Despite a more stringent state mandated tax cap this year of approximately 1.9 percent for Chenango County, the $86.9 million budget falls under the tax cap threshold for the fourth consecutive year. According to Chenango County Treasurer Bill Craine, the county saw a total $81,418 (.09 percent) increase in spending over last year’s budget but still falls marginally short of the state mandated tax cap by about $15,000.
This means unless the numbers change before going to vote, the average taxpayer can expect to pay 13 cents per $1,000 of assessed value more than they did in 2014, said Crain (which equals approximately $12 more for the year for the average residence). Individual town rates will vary depending on equalization rates and assessed value totals.
“Our biggest challenge this year has been gaining revenue while sales taxes are flat,” Craine said, citing sales taxes that fell below anticipated throughout the summer. Sales tax statewide has been less than exciting this year, he added.
Even so, the suggested budget keeps the county debt free and off the list of “fiscally stressed” governments tracked by the New York State Comptroller’s Office. It additionally retains the financial precept of keeping a minimum $15 million in general fund surplus. The estimated surplus balance, which is not earmarked, stands at approximately $17 million.
Said Craine, “I think we have made good progress by trying to do the right things for the county. We’re careful with every dollar that’s entrusted with us.”
The proposed budget further lessens the application of the 2014 general fund surplus funds toward reducing the 2015 budget by $210,000 to $2.67 million, making this the fourth consecutive reduction from the $3.68 million that was applied to balance the budget in 2011. It does, however, eliminate seven full-time positions in five county-run programs including the Area Agency on Aging, Department of Social Services, Public Health, Facilities, and Mental Health.
The plan also continues the cell four development project at the county landfill in Pharsalia (currently the county’s largest capital project), keeps the equipment replacement program for the county road system, and finalizes the court facility move to the Eaton Center.
Craine said county officials developed a budget keeping in mind six key financial precepts:
• Have a balanced budget using reasonable revenue and expense expectations
• Adhere to the tax cap (pending exigent circumstances)
• Maintain a NYS Comptroller’s rating of “not in fiscal stress”
• Remain debt free
• Maintain a minimum of $15 million in general fund surplus
• Over the course of five years, reduce application of the general fund surplus applied to the following year’s budget to $1.5 million
County officials are likely to call for a public hearing on the proposed 2015 budget for late November.
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