Rensselaer County reports $3.3M surplus

Funds will go toward pension expenses, county reserves By Kenneth C. Crowe II Published 10:32 pm, Wednesday, May 22, 2013 

Troy - Rensselaer County closed out its 2012 budget with a $3.3 million surplus after paying $1.1 million in unbudgeted legal costs, County Executive Kathleen Jimino said Wednesday.

The county paid about $500,000 for legal expenses for the Troy ballot fraud case and about $600,000 to settle the Hudson River-Black River Regulating District lawsuit.

Jimino said the $3.3 million remaining from 2012 county operations would be applied to county reserves and to pay pension costs.

The county budget reserves will grow to $10.5 million with the application of $300,000. The remaining $3 million will be applied to the county's pension expenses. Jimino said the county's positive financial situation is due to her "administration's actions in making the tough decisions to maintain a stable and affordable tax rate."

County Legislature Chairman Martin Reid, R-Sand Lake, said the audit's findings showed the positive impact of county fiscal efforts.

"The audit is good news, and shows taxpayers the county is doing a very good job managing finances despite increases in mandates and a weak economy," Reid stated.

Jimino and the County Legislature are up for election this fall.

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