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Oneida County: Fiscal year ended with $8.4 million operating surplus
ONEIDA COUNTY, N.Y. (WKTV) - Oneida County officials had some good financial news Thursday afternoon - for the sixth year in a row, the county has closed their fiscal year with an operating surplus of $8.4 million.
How did they do that?
More belt tightening, as almost every county department came in under budget. Also, they got a pleasant surprise in the form of a record year in sales tax in the county. They had planned on $90 million, but took in around $92 million.
"When I was talking to different vendors, car dealers if you will, people are buying cars, people are spending money," said Oneida County Executive Anthony Picente. "It's hard to figure out but the concern is it changes, that it can change just as fast as it goes up. It can go back down and that's always a concern."
The plans for the surplus include paying off retirement debt, increasing the county's economic development fund as well as the cash flow account, along with similar things that Picente says will help increase the county's all around fiscal health.