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McCoy: Albany County nearly broke

Managing costs, borrowing, nursing home’s future key points of State of County

Albany County Executive Dan McCoy delivered his first State of the County Address on Monday, March 5, at the county offices, and said in no uncertain terms that 2012 brings dramatic fiscal challenges. Borrowing to keep the county running and the future of the county nursing home were mentioned in the speech.

Albany County Executive Dan McCoy delivered his first State of the County Address on Monday, March 5, at the county offices, and said in no uncertain terms that 2012 brings dramatic fiscal challenges. Borrowing to keep the county running and the future of the county nursing home were mentioned in the speech. Photo by Alyssa Jung.

Business is instrumental in generating tax revenue and McCoy said he has plans to pursue economic development by “creating an incubator at 112 State St.” that will provide local entrepreneurs with the free space, phones and other tools to concentrate on making a new business work.

“We will be able to do this by partnering with area businesses, including Tech Valley Communications, who has agreed to supply the necessary telephone and Internet lines,” said McCoy.

Much of the work to revive Albany County finances and government lies in the future, but McCoy said there are some things achieved in the first two months of 2012 that are steps in the right direction.

“We are working on the consolidation of departmental administrative functions to create efficiencies, starting with the departments of health and mental health,” said McCoy. “We have changed some of our billing practices and collected over $600,000 by doing this.”

McCoy said he had plans to use grant money to establish a countywide Domestic Violence Court to help local courts and establish consistency.

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Comments

schodack 2 years, 6 months ago

It looks like the numbers came accurately from his speech, so I guess this is his error, not the reporters...but how can $63 million equal 77.2% of the tax levy while at the same time, $23 million equals 14.3% of the tax levy? Doesn't he (or his staff members) know basic math?

63 / .772 = $81.5 tax levy 23 / .143 = $160.8 million tax levy

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Charles Wiff 2 years, 6 months ago

@schodack Good eye. That's direct from McCoy's speech, but we should have noticed that inconsistency. Perhaps the simpler way to look at it is to note the county's 2012 budget levies $82 million in property taxes. That makes the Medicaid figure correct, but not the pension costs.

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Charles Wiff 2 years, 6 months ago

Some further clarification... The county's obligation when it comes to pension costs is indeed $23 million. However, because of various reimbursements and an $8.3 million amortization (basically putting off that part of the payment until a later date, with interest) the county is paying $11.8 million at the end of the day. That's where the 14.3 percent figure comes in.

Sorry if this caused any confusion.

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