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COMPTROLLER POLONCARZ

BUFFALO FIRST

Poloncarz Envisions Possible County Surplus

Business First of Buffalo - 12:40 PM EDT Friday, August 4, 2006

Erie County Comptroller Mark Poloncarz is sounding a note of cautious optimism about the county's financial health.

Poloncarz released his latest quarterly report on Friday, and it included several kernels of positive news for the financially troubled county.

"Certain indicators contained in this report reveal that Erie County is trending toward ending fiscal 2006 with not only a balanced budget, but potentially a small surplus," he said.

Among the upbeat indicators:

  • The county's earnings on interest and investments have more than doubled, reaching $5.6 million for the first half of 2006, compared to $2.7 million in the same period last year.
  • The county's sales-tax revenues essentially are on pace with budget projections. A total of $175.26 million was generated by the tax during the first half of the year, almost half of the full-year projection of $355.25 million.
  • Property-tax collections have been slightly more efficient this year, with 90.6 percent of this year's taxes having been paid before July 1. The rate last year was 88.5 percent.

A complete copy of the report is available at www.erie.gov/comptroller/financial_statements.asp.

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