Erie County officials - yes, it's true - are in the midst of a responsible debate about how to use unexpected revenues. Our advice: Repent now. The kingdom of fiscal prudence is at hand.

With $23 million of "extra" cash - following sales and property tax increases - county leaders pushed two reasonable plans. One would put some of the money toward capital expenses, thereby lowering the amount of new borrowing and debt. The other would put the money into a rainy day fund to restuff the county's financial cushion, bolster the county's bond rating and protect against all-but-inevitable future crises.

What they are not talking about, to our knowledge, is spending the money on general fund expenses, such as payroll, benefits or routine maintenance. That's a good thing.

Different experts will offer different opinions on which is the better path for Erie County to follow. County Executive Joel A. Giambra and Comptroller Mark C. Poloncarz want to put the money into a reserve fund. The County Legislature and the county Control Board, meanwhile, want the money used to pay up front for some of the borrowing the county plans this year. Giambra refused to use the money that way or to lower the amount of borrowing planned.

Given the additional borrowing the county has to do for Erie County Medical Center, Poloncarz believes defraying the ultimate figure by a few extra million dollars wouldn't save much money. But it would hinder efforts to rebuild the fund balance, needed to lower the cost of broader future borrowing.

This mainly seems to be a no-lose argument for county taxpayers, though the rainy day plan is preferable, especially in light of the Legislature's vote Thursday to cut this year's borrowing to $12.2 million from the $22 million Giambra wants. If the county can responsibly hold to that figure and put the new revenue in a rainy day fund, taxpayers benefit twice.

Copyright 2006 - The Buffalo News