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ECFSA Set to Vote on County Financial Plans

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Joyce Krysak

BUFFALO, NY (2007-11-02): The Erie County Fiscal Stability Authority Friday will give its opinion of the administration's 2008 proposed budget and four-year plan. And there could finally be a decision on the long-debated issue of capital borrowing too.

By law, the control board must either accept or reject the county's financial plans by Monday. According to officials, they are also supposed to say whether or not they will remain in hard control status. And that decision could have tremendous impact on another lingering battle - who should do the county's capital borrowing.

The board is using its hard control status to withhold approval of capital borrowing and other contracts. The board argues it can borrow for less. Erie County Comptroller Mark Poloncarz disagrees.

He said the only thing the control board is trying to save is its stronghold on county government.

The county asked the state to intervene. Polocarz said that unless something is reported at today's meeting, the state has not yet offered an opinion. But the state comptroller Thursday did offer a general caution on excessive debt.

According to Thomas DiNapoli, local government debt soared 94 percent statewide over a ten year period, from 1995 to 2005. He said it is a troubling trend that demands attention.

Erie County is asking the control board to approve a roughly $52 million bond for this year. Among other projects, it includes four million for the zoo and another $2.5 million for the new Buffalo Bills scoreboard.

Without the money, Poloncarz said the "Ice Bowl" could be at risk. Until it gets paid for, the company that made the board, Mitsubishi, has refused to reprogram the scoreboard for the high profile National Hockey League game.

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