Community News

Allegany County Financial Presentation now available on-line

Belmont NY. Curt Crandall, Chairman of the Allegany Board of Legislators, has announced that his State of the County financial presentation is now available on the County website. At the Board of Legislators meeting on April 24, Chairman Crandall addressed the Legislators, press, Department Heads, and public in attendance and went through a PowerPoint presentation highlighting County finances. It included the recent history and current figures for the general fund balance, debt service, expenditures, and revenues as well as the County property tax rate and how assessed values, which are set by the towns, and the equalization rate, determined by the State, can vary individual property tax rates from town to town. He also discussed how county government programing has changed over the years and that actions of state and federal government put the Board of Legislators in a position where they were required to address operational facilities such as the Public Safety Complex (Jail) and the Court Facilities. “I felt the need to get accurate information on our finances to the Legislators and public in a way that was easier to understand” said Crandall. “The figures used are directly from the Treasurer’s Office but presented in graphics going back several years.” All who wish to view the presentation in its entirety are encouraged to go to the Allegany County website, and the presentation can be found under Budget by dropping down the Government tab or linking http://www.alleganyco.com/government/budget/.   This shows trends and improvements in Allegany County’s financial position and points out that our Bond Rate has been improved to an A1 rating which reflects and takes into consideration the County’s:

* Good and adequate management with standard financial policies and practices;

* Strong budgetary flexibility, with a history of available reserves above 20% of expenditures;

* Strong liquidity to cover debt service and expenditures;

* Strong budgetary performance, with stable operational results; and

* Strong debt and contingent liabilities, with limited future debt plans

The Allegany Board of Legislators, County Administrator, Department Heads, and County Employees have been good stewards of the monies entrusted to them, and the public should be able to see these results. “I would be happy to discuss this presentation and answer any questions” said Crandall. A hard copy that summarizes the presentation is also available at the Clerk of the Board of Legislators Office or from any County Legislator.