County Executive Marcus Molinaro likes what he sees when it comes to Dutchess County's finances.
Molinaro submitted the county's 2016 financial report to the New York State Comptroller's Office.
"Our continued focus on smaller, smarter, and more effective government continues to pay dividends for our county taxpayers as this latest report on the County’s fiscal condition demonstrates. With a solid fiscal foundation, we are able to deliver on our goal of sustained property tax relief for our residents and businesses," said Molinaro.
Revenues of $465.2 million exceeded the $456.2 million in expenditures and the county maintains a $59.6 million fund balance. The county said a strong fund balance is important to maintaining a AA+ bond rating.
Molinaro intends to set aside $16.5 million to provide tax stability over the next several years, the county said.
The Taxpayer Protection Fund, established in 2016, will have a balance of $12 million to enable Dutchess County to remain under the property tax cap for the next several budget cycles, Molinaro said.
“Continuing to set aside money as part of the Taxpayer Protection Fund is a critical part of our fiscal strategy to avoid potential future tax increases. This fund provides our local families and businesses the confidence of knowing their county property taxes will remain level and they can use their money to invest in their families and businesses,” said Molinaro.
Additionally, $4.5 million will be set aside for county capital projects.