The Dutchess County Executive office issued a press release today that announced that the county ran a surplus of $26.6 million after expenses in calendar year 2015.
The income came in part from better processing of claims by the Department of Community and Family Services so the county was reimbursed faster by the state.
The county ended up the 2015 year with a fund balance of $57.2 million.
Marc Molinaro, county executive, was quoted as saying “Through innovative practices, forward thinking policies and a focus on improving the way we do business - we are seeing modest economic growth, a smarter and more efficient county government, and two years of property tax reductions. By replenishing our fund balance, we are now able to establish a taxpayer protection fund while offering financial assistance to municipal governments to accomplish the same."
A fund balance that exceeds 10 percent of the budget will be credited back to taxpayers. Molinaro said he will deposit the excess in a “Taxpayer Protection Fund” to shield taxpayers from future increases, said the release.
He also mentioned that the county is anxious to help municipalities reduce property taxes by taking measures like shared services or consolidations that will shrink the burden of government on the taxpayers.
A financial report filed with the state says county revenues were $473.7 million while its expenses were $447.1 million.