Modified: November 6, 2015 2:38pm
For 7th Year Consecutive Year, Fiscal Stability Authority Board Remains in Advisory Status
ERIE COUNTY, NY— On Monday the Erie County Fiscal Stability Authority (“ECFSA”) voted unanimously to approve the proposed 2016 Erie County Budget and Four Year Financial Plan, calling both reasonable and balanced. The legislation that created the authority requires that within 20 days of receiving the County’s proposed budget and plan, ECFSA must review and determine whether the budget and plan are in balance and realistic.
ECFSA first entered an “advisory” (and not “control”) period in June 2009 and by its actions today, has continued to remain in an advisory status for 2016.
“I thank ECFSA and Chairman James Sampson for their diligent review and approval of the proposed 2016 Budget and plan, as well as for their cooperation with the County during the past weeks as ECFSA examined the budget and financial plan,” said Erie County Executive Mark C. Poloncarz. “Following a thorough analysis, ECFSA’s vote affirms that this is a responsible and balanced budget and Plan.”
ECFSA’s Finance Committee met on October 21st and heard testimony from and posed questions to representatives of the County’s Division of Budget and Management. In addition, ECFSA submitted a detailed written list of 21 questions to County budget officials regarding the 2016 Budget and financial plan, necessitating a comprehensive response from the County. At today’s ECFSA meeting, ECFSA members commented that they were pleased with the open dialogue and transparency of the Poloncarz administration and expressed their satisfaction with the cooperation and efficiency of the County.
County Executive Poloncarz added, “ECFSA’s decision today to remain in an advisory status is an important independent affirmation and validation of the hard work of my administration in improving the County’s finances while providing important services to the residents of Erie County in a cost-efficient, reasonable and transparent manner.”