Broome County notes another big increase in reserve fund

BINGHAMTON (WBNG) — Broome County Executive Jason Garnar and Director of Management and
Budget Jerome Knebel announced that Broome County’s unassigned fund balance has increased
to $6.5 million.

In the 2017 fiscal year the fund balance increased from $255,000 to $4.1 million, according to Garnar’s office. The audited unassigned fund balance is $6.5 million at the end of 2018, another one-year increase of more than $2 million.

“We continue to increase our fund balance, and it is now 25 times bigger than it was when I took office,” Garnar said in a statement. “This is thanks to cost-cutting measures and working together with our departments. As we look to 2020 Broome County is continuing to head in the right direction as we work to restore and maintain our finances.”

County officials say the process of crafting the 2020 budget is currently underway.

 

Nicky Hickling

Nicky Hickling

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