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


OFFICE HIGHLIGHTS

The Erie County Legislature’s Finance and Management Committee met with the Buffalo Urban League, former employees and community activists today to discuss serious issues raised during the Comptroller Office...

The committee process is a critical part of government operations, allowing the members to fully vet issues. I am honored to again serve as Chairman of the Erie County Legislature’s Finance and Management...

Erie County Legislator Joseph Lorigo announces that a Home Energy Assistance Program (HEAP) Outreach will be held Wednesday, Feb. 3 at the West Seneca Coalition Resources Center at New Hope United Methodist Church...

Erie County Legislature Majority Leader Joseph Lorigo was pleased to learn that the County Executive signed the Legislature’s “Pawn Shop Law” today, completing the process to enact the legislation...

In its second term in the majority, the Republican-aligned Caucus, which includes Legislator Edward Rath (R-Amherst), Legislator Kevin Hardwick (R-Tonawanda), Legislator Ted Morton (R-Cheektowaga), Chairman Mills (...

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.