There is no question Chemung County, like all counties in New York, faces very serious fiscal impacts from COVID-19 and the “New York Pause” program created to respond to the virus.
Local officials in Chemung County, including Chemung County Treasurer Jennifer Furman and Chemung County Budget Director Steve Hoover, are working very hard to formulate a plan to responsibly deal with the economic fallout caused by plummeting sales and room tax, reductions in state and federal aide, and the potential for increased expenditures related to the virus. As anyone with any familiarity of county government can appreciate, attempting to addresses these shortfalls while also trying to avoid property tax increases and large numbers of county lay-offs or furloughs, continuing to share sales tax revenue with the towns, villages and City of Elmira, and maintaining a reasonable fund balance is a very tall task.
The New York Association of Counties (NYSAC) authored a startling report last week on what may be coming for county finances – and it’s not pretty. A full copy of the report is embedded below:(more…)