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1/25/13: Poloncarz Notes County Budget Surplus Projection for 2012


Amount Projected Between $4 -$5 Million; Year-End Accounts Still Being Posted

ERIE COUNTY, NY— Today, Erie County Executive Mark C. Poloncarz called attention to County Division of Budget and Management projections estimating that Erie County will end fiscal year 2012 with a surplus between $4 million and $5 million.

“These projections show that, even in the difficult fiscal climate that I inherited from my predecessor, my administration was able to prudently and effectively shepherd County resources throughout 2012,” said Poloncarz. “Accurate forecasting of sales tax revenue and careful accounting of expenses led to this modest surplus, which is good news as we get into 2013”.

Through November 30, 2012, the County had an overall positive variance of $5.03 million.  The Division of Budget and Management is awaiting sales tax data from the New York State Department of Taxation and Finance for December. The 2012 Budget forecast 2.51% growth in sales tax over 2011 and through November 2012, the County was at 2.52% growth over 2011 sales tax receipts. Had the County not experienced certain prior period adjustments in 2012 against 2011, the 2012 year to date growth through November would have been 2.81%.

The County Division of Budget and Management is working with the Office of the Comptroller to close the fiscal year and make all necessary accruals, budget entries, and related data. After any remaining accounting entries and accruals are posted, the Division of Budget and Management will submit a final report to the Erie County legislature.