Picente: Oneida County in excellent fiscal health

The county's bond rating from the three agencies that rate it are all A or AA. But the county executive says, don't take his word for it; listen to the words of the bond-rating agencies.

Posted: Apr. 30, 2019 12:15 PM

Oneida County Executive Anthony Picente Tuesday morning said that the county is in excellent fiscal health, citing reports from some of its credit-rating agencies, and a nearly $10 million budget surplus for 2018.

Picente and Comptroller Joseph Timpano, say the county ended 2018 with a $413,000 operating surplus, which resulted in a budget surplus of $9.7 million.

The county executive says it helped that social services and public health, which account for more than 50 percent of the general fund-were $3.3 million under budget.

The county's bond rating from the three agencies that rate it are all A or AA. But the county executive says, don't take his word for it; listen to the words of the bond-rating agencies.

"Standard and Poor's say, the rating reflects Oneida's strong management policies and practices, strong budgetary flexibility metrics coupled with a manageable debt burden"

Picente's opponent Republican Dave Gordon, says it's not sound management, but smoke and mirrors.

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