May 5, 2015

Picente and Timpano: Oneida County Finishes 2014 With Surplus

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Strong Management and Sound Fiscal Discipline lead to 5.1 Million dollar Surplus

Oneida County Executive Anthony J. Picente Jr. and Oneida County Comptroller Joseph J. Timpano today announced that final reporting of Oneida County’s fiscal position at the end of 2014 show that the county has achieved an unaudited operating surplus of $5.1 Million.

“We have ended the year once again with an operating surplus by adhering to the principles this administration has set for nine years. Good, efficient government with a commitment to fiscal responsibility.  You see this commitment in today’s announcement and in recent affirmation of the County’s credit rating.” said County Executive Picente

Oneida County’s credit rating was recently confirmed by all three major credit rating institutions in the United States. One of the major reasons cited for the increase was strong fiscal position which is reflected in the operating surplus
and the County’s fund balance.

Contributing factors for the surplus are a culmination of reduced payroll, revenue from the historic Oneida Nation Settlement and expenses across the county coming being higher than anticipated. The single largest factor is Oneida County government operating leaner and more efficient than it has been in the past.

County Executive Picente added “We have kept government expenses under budget by nearly $10 million.  Once again the national debate is centered on government inefficiency and hyper-partisanship; not here in Oneida County.  Oneida County continues to operate in the black while supporting initiatives that focus on increased government efficiencies, quality of life, education, economic development, infrastructure and others that will continue to create a better future for our children and grandchildren.”

Comptroller Timpano said “The commitment to our fiscal approach has continued to pay dividends for the taxpayer.  We will remain diligent in monitoring spending and continue to be a guardian of the taxpayers’ monies.”

Oneida County Partners