CANTON — St. Lawrence County’s financial picture continued to improve in 2018, thanks to several factors such as declining health insurance expenses, reduced spending by some departments and higher sales tax revenues, according to data presented Monday night.
County Treasurer Renee M. Cole told the county’s Finance Committee that the county’s general fund balance increased by $7.3 million between 2017 and 2018, from $15.3 million to $22.6 million, based on an unaudited review.
The unreserved, unappropriated portion of that fund balance grew by roughly $6.8 million between those years, from $13.6 million to $20.4 million, she said.
Cash revenue has increased by 23 percent and a greater percentage of property owners are paying their school and property taxes, she said. The county makes school districts whole by paying them for unpaid school taxes.
Legislature Chairman Joseph R. Lightfoot, R-Ogdensburg, said during the past four years the county has dug its way out of a financial mess that forced the Legislature to borrow between $5 million and $12 million a year between 2011 and 2017 to cover cash flow shortages.
That scenario cost the county roughly $100,000 a year in interest payments, with the amount varying depending on how much was borrowed. Last year, for the first time since 2011, the county did not borrow money. Although the success has been touted as a bipartisan effort, the turnaround started in 2015 when Republicans took majority control of the Legislature from Democrats.
“In four short years we’ve taken a negative fund balance and brought it to where we are today,” Mr. Lightfoot said Wednesday. “It’s been a combination of factors. Economic conditions have improved and we have some very competent department heads.”
Mrs. Cole, a Democrat who took over as county treasurer after winning the 2016 election, said several factors worked in the county’s favor last year, including some departments spending less than they had budgeted.
The Public Health Department’s expenses were $770,000 under budget, while the Sheriff’s Department spent $750,000 less than expected.
Also, $2.7 million from the county’s contingency account was not spent.
“That was a big positive on the fund balance,” Mrs. Cole said.
In her office, she said sales tax revenues came in $1.8 million over the $57.1 million budgeted for 2018.
The amount the county allocated for fringe benefits paid to employees came in $1 million under budget, including $800,000 million less than expected on health insurance expenses, Mrs. Cole said.
In the Highway Department, the county roads fund balance increased by $227,000 while the road machinery fund balance increased by $191,000.
Mrs. Cole said the county’s Solid Waste Department is showing a $773,000 increase in its fund balance, but she said that will likely be reduced significantly.
“These are unaudited and our auditors give us some adjustments that will affect solid waste, such as other post employment benefit expenses and pension liabilities. Last year, those totalled about $500,000 so this will go down quite a bit,” Mrs. Cole said.
The fund balance in the worker’s compensation fund increased by $752,000 compared to last year because fewer claim payments were made, she said.
The county’s liability and casualty fund saw its fund balance decrease from $3 million to $2.7 million, largely due to settlements the county agreed to pay, Mrs. Cole said.
Accountants from the firm Drescher & Malecki LLP, Buffalo, are expected to be in Canton between June 10-17 to conduct their annual audit of the county’s finances.