County Executive: "Chemung County Finances On Solid Ground"

[TTL News 307]

Earlier today, Chemung County Treasurer Jennifer Furman announced that the county currently has a General Fund surplus of $14.7 million for 2021, as well as favorable results across all other governmental funds combined.

Furman says the two biggest drivers of the 2021 General Fund surplus are $8.7 million in favorable gross sales tax revenue versus budgeted expectations, and approximately $7.7 million in combined favorable payroll and employee benefit costs, including $3.5
million in health insurance. The County’s 2021 sales tax results are in line with statewide sales tax results for 2021 and the inflationary economy, while the payroll and benefit savings are tied to vacancies and targeted management efforts to control these costs.

In the last decade, the largest General Fund surplus prior to 2021 was $6.8 million in 2011.

Also of note, Chemung County spent less in the General Fund in 2021 than it has since 2015, spending $158.6 million in 2021 as compared to spending in excess of $160 million in each year from 2016 to 2020.  According to Furman this level of fund balance puts Chemung County in very solid financial position, with improved liquidity and cash flow positions, and it also affords sufficient excess fund balance to endure the impact of future economic uncertainties.

In addition, Chemung County also operates several Enterprise Funds, including the Chemung County Nursing Facility and the Elmira Corning Regional Airport. Unlike the governmental funds, Furman says that the Enterprise funds follow full accrual accounting and are operated and financed in a manner similar to private business where the goods and services provided are intended to be supported via user fees and charges rather than taxes.

For the Nursing Facility, the county expects to report a surplus of $1.2 million dollars for 2021, while a deficit of $2.2 million is expected for the Airport. The Airport has over $100 million invested in capital assets that are being depreciated over time, so a $5.3 million-dollar annual depreciation expense is the variable that causes the Airport deficit in the financial statements. Without deprecation and other full accrual adjustments, the airport essentially ran a breakeven operation in 2021.

The Nursing Facility also benefited in 2021 from several large favorable liability adjustments, including for pension and other post-employment benefits, as well as a substantial Medicaid rate adjustment settlement from prior years.

Chemung County Executive Christopher Moss released a statement applauding the "tremendous job" done at the County Treasurer's Office as well as by other county department heads. 

"I would like to thank Jennifer Furman and her staff, as well as Deputy County Executive, David Sheen, Director of Budget & Research, Steven Hoover, our department heads; employees, County-wide elected officials, (District Attorney, Sheriff, County Clerk), for all of their efforts in realizing these year-to-year favorable financial results," Moss said. "Just imagine if the County Legislature would get on board, what we could achieve."

Moss added that he feels some County Legislators have been "missing in action", and only now stepping forward to take credit for the county's financial situation. 

"As this is an election year for the entire Legislature, many Legislators are quick to attempt to take credit for cost saving initiatives, day-to-day operations, as well as other County related functions that they have had little or nothing to do with," he wrote. "Several of these Legislators have resurrected social media platforms simply to politicize several of the goals that they played no role in achieving. It’s important to remember that the majority of the Legislators were missing in action for almost two years due to the pandemic and now appear front and center asking for your vote.   In a little over two months, the residents of Chemung County will have the opportunity to elect new Legislative representation."

Moss encourages voters to "...do your homework" prior to voting in the upcoming elections. 

 

[KarenK 382]

Wow.

[Ann 263]

Was  “homework done “ before handing out endorsements?

[Hal 341]

We have done our “ homework “ Mr Moss and we still have seen nothing substantive from any of the candidates that you have endorsed! In fact I myself have just read a thinly veiled threat against the residents in Baldwin from the very candidate who touts he will help all his  constituents ! Does your endorsee actually know what a constituency is and if he will threaten one portion of his district as a Legislator it isn’t much of a stretch that all will receive the same treatment . Are you sure your endorsee is able / stable enough to hold office at all given his behavior on the still circulating video and his statements from hie FB Page more particularly the last sentence . 
 

Edited April 21, 2022 by Hal

[Farm raised 23]

Wow!!! That is all I can say

[KarenK 382]

Looks like I'm going to end up in his district soon.  For now, he thinks I am and I haven't corrected him.

All I have to say is that if you are running for a political position, it would be wise to at least try and get some of the hillbilly out of your comments.  It's a bit hard to follow while I try and translate.

[MsKreed 1,173]

13 minutes ago, KarenK said:

All I have to say is that if you are running for a political position, it would be wise to at least try and get some of the hillbilly out of your comments.  It's a bit hard to follow while I try and translate.

More than just a bit hard to follow. It's doubtful Purvis ever did much homework....ask his English teacher.

Edited April 21, 2022 by MsKreed