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Day touts Rockland deficit reduction ahead of Election DayPosted: Updated:
Rockland County Executive Ed Day announced Monday that the $138 million deficit he inherited after taking office in January of 2014 is now down to $4 million.
The announcement comes one day before Election Day.
“We project by the end of 2017 the deficit fund balance will be completely eliminated,” he says.
The numbers and projections came from a just-released audit commissioned by the county Legislature.
According to Day, who is seeking his second term in office, the once cash-strapped county's improving financial outlook means a better bond rating, which translates to huge savings for county taxpayers.
"It means that 3-5 percent property tax increase will not happen…because we are saving that amount of money," he says.
Maureen Porette, Day’s Democratic rival in the race for county executive, says he's taking undue credit for reducing the deficit.
The Stony Point lawyer wasn't available for an on-camera interview, but in a recent News 12 debate said the deficit went down because of actions taken by the county Legislature.
"I would like to personally thank our Rockland County Legislature for reducing municipal deficit through procuring municipal deficit reduction bond on Jan. 13, 2013, prior to Mr. Day coming into office,” she said.
According to Day, if it weren't for that bond issue - which he voted against - the county would now be offering the people of Rockland an 11 percent property tax cut.
Day says his latest budget has set aside $4 million to help cover outstanding municipal contracts. He's also asking the Legislature for help in securing more funds.