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Broome County Releases 2017 Fund Balance

Posted: Updated:
BINGHAMTON, N.Y. -

Broome County finances are looking good.

County Executive Jason Garnar announced Thursday that the 2017 general fund balance is at $4.1M. This is a $3.9M increase from the 2016 fund balance of $255,000

During the press conference, Garnar credits cost-saving measures throughout the departments for the fund's growth.

"That is 16 times what it was when I took office. I asked our departments to be conservative, to think outside the box to find ways to save money," said Garnar.

Among the departments recognized for savings in the budget include the county's Sheriff's Office, which in 2017 cost taxpayers $2.8M less than expected. The Department of Social Service also ended the year $2.1M better than budgeted.

However, county legislature chairman Daniel J. Reynolds responded saying the announcement comes to no surprise.

“While it’s disappointing that the County Executive waited until now to share the County’s fund balance amount with the Legislature and public, we’re not surprised to learn that the County’s fund balance has improved. Despite the efforts of some officials to convince the public that the County is on the verge of fiscal insolvency, our financial position remains strong,” said County Legislature Chairman Daniel J. Reynolds. “This announcement is another positive indicator that the County has done a good job with budgeting over the past several years. The County Legislature will continue to work to enact responsible budgets that protect County taxpayers, treat our partner municipalities fairly and provide vital services to County residents in an efficient manner."