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Legislature hears budget shortfall update and tables local law to override tax levy limit
Summary
County finance staff reported a $5.6 million planned fund draw for FY2025 and an unaudited fund balance of about $141.98 million; the legislature tabled a local law to override the property tax levy limit, postponing a decision until the budget process proceeds.
County finance staff reported to the Cayuga County Legislature on June 24 that the county’s fiscal year 2025 budget as approved by the legislature requires a $5,600,000 draw from the fund balance and that the current unaudited fund balance stood at $141,982,000.
Legislators and staff described ongoing budget pressures including rising health insurance premiums, inflationary cost increases, expenses tied to the county office building project and other structural pressures. The finance…
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