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Legislature requests County Executive capitalize on $250,000 in savings


OFFICE HIGHLIGHTS

Erie County Legislator Joseph C. Lorigo announces that a Home Energy Assistance Program (HEAP) Outreach will be held on Thursday, Dec. 18 at the West Seneca Senior Center, 4620 Seneca St., West Seneca. Interviews will begin at 9 a.m. and continue...

I would like to wish everyone a very happy and healthy Thanksgiving. As we prepare for this holiday, many groups are collecting donations to help our neighbors who are less fortunate. We can’t thank those volunteers enough for the hours...

At today’s Finance and Management Committee, members of the Legislature questioned Edwin Gonsiorek, Director of Weights and Measures, whose division was the subject of an investigation by the Comptroller’s Office. Unfortunately, only...

Erie County Legislator Joseph Lorigo, Chairman of the Legislature’s Finance and Management Committee, has released the following statement after learning that the County Executive borrowed through the county, instead of the Erie County...

The Erie County Legislature has unanimously approved a resolution requesting that the County Executive issue a Declaration of Need for the upcoming RAN borrowing.  This will allow the county to capitalize on significant savings for the taxpayers. Historically, the Erie County Fiscal Stability Authority (ECFSA) has proven to be the fiscally responsible option. Due to its superior bond rating, the ECFSA would be able to borrow at a lower rate than the County Comptroller’s Office.

 

“The entire Legislature believes that Erie County’s approach to borrowing should be simple: respect taxpayer dollars when borrowing, and use the least costly option possible. Statements from both the Comptroller and the ECFSA indicate that the ECFSA could save approximately $250,000 if it were to conduct this round of borrowing. I believe the choice is clear. The outcome will not change regardless; funds are still borrowed to operate county government, and the only difference is choosing which option is less costly to taxpayers,” said Majority Leader Joseph Lorigo.

 

Majority Leader Lorigo reminds the County Executive that when he served in the role of Comptroller during the 2011 borrowing process, Mr. Poloncarz stated in a letter to the Legislature, “I reiterate that my goal is to ensure County taxpayers get the best deal possible regardless of whether the County of the ECFSA issues this year’s RAN.”

 

“I hope that the County Executive will heed his own request and support the option that incurs less cost. All the information provided to the Legislature indicates that once again, as has been the case for several years, the ECFSA will be the better option. If proven to be true, I would hope that the County Executive values taxpayer dollars as much as I do, and conducts the borrowing through the most cost effective method,” said Majority Leader Lorigo.