$437 Million of Public Debt

COMPTROLLER SUGGESTS PUBLIC DEBT POLICY CONSIDER ITS BORDERS

KINGSTON, NY (June 15, 2010)… In a continuing effort to mine, audit and review data valuable to public policy decision making, Ulster County Comptroller Elliott Auerbach released a BY THE NUMBERS report on the Total Public Debt Outstanding in Ulster County.

“One the most revealing aspects of this data,” said the Comptroller, “was not so much the total dollar amount but the fact there are 75 taxing jurisdictions in Ulster County that contribute to that total debt amount.” The 75 municipal taxing districts within Ulster County, include:

• 41 Fire Districts
• 10 School Districts
• 19 Towns
• 3 Villages
• 1 City
• 1 County

These 75 districts have a combined total debt outstanding (debt remaining to be paid over time) of $437,201,643.

“We in government have a special obligation not only to monitor how much public money is spent and for what purposes, but to understand the extent to which our taxing districts are layered,” explained Auerbach. “When we understand the layering we can begin to explore opportunities for more inclusive and integrative processes for establishing debt policy at the community level,” said Auerbach.

The report relies on data submitted by governmental entities which are required to file annual financial statements with the NYS Office of the State Comptroller.

The Ulster County Charter crafted the Office of the Comptroller to serve as an independent analyst of county functions and finances. In this role, the Comptroller has identified the importance of sharing data and information as a means to spur creative thinking. BY THE NUMBERS reports provide data from which the user can draw conclusions or pose valuable public policy questions

(The complete report appears at www.ulstercountyny.gov/resources/comptroller)