Big Jump Reported in Broome Fund Balance
County Executive Jason Garnar Thursday afternoon announced the fund balance at the end of last year was $4.1 million. That compared to the reported fund balance of $255,000 one year earlier.
Garnar attributed the larger fund balance to "cost-cutting measures" and efforts by some departments to reduce budgeted expenses.
The county executive said the sheriff's office cost $2.8 million less than had been expected. He said the social services department wound up spending $2.1 million less than had been budgeted.
Sales tax revenue exceeded estimates by $1.1 million last year. Revenue received by the county related to Tioga Downs Casino Resort was $1.2 million more than had been expected.
In a statement, Garnar said the county is "heading in the right direction to restore our finances."
Broome County legislature chairman Daniel Reynolds said the fund balance report is "another positive indicator" the county has been doing a good job with budgeting over the past several years.