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Ulster County controller reports strong 2024 revenues, flags audit work and cannabis distribution errors
Summary
Controller’s office reported higher-than-budgeted sales and occupancy tax revenues for 2024, a projected fund-balance surplus above policy targets, ongoing audits and problems with state cannabis revenue allocations to municipalities.
Ulster County Controller's Office presented a financial update to the Ways and Means Committee on Feb. 13, reporting stronger-than-budgeted revenue in 2024 and outlining ongoing audits and corrective work.
Controller reported the county’s 2024 sales tax revenue at about $174.9 million, roughly 4.76% over budget, and the first 2025 payment showed similar positive movement. Occupancy tax (hotel/motel) revenue for 2024 totaled about $7.9 million, or about 126% of budget. Budgeted interest income for 2024 was $6.7 million; the county earned about $9.6 million.
On fund balance, the controller noted the county’s unrestricted fund-balance policy target is 20% of adopted general-fund expenditures; for the 2025 budget (approximately $392.7 million…
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