By Eileen Buckley
Buffalo, NY – A Fiscal Stability Authority will soon be established for Erie County. Late Tuesday afternoon Governor Pataki signed legislation to create the control board that will oversee County spending.
Under the control board Legislation, the county must submit a four-year financial plan to the board by October 1.
Pataki says the control board will provide Erie County with immediate financial oversight an give local leaders the ability to improve the fiscal condition.
State Assembly Majority Leader Paul Tokasz says the control board is needed to resolve the on-going fiscal crisis.
But the Governor has not yet revealed who he will appoint to the panel. Tokasz says Pataki must name his appointments first, before the Assembly, Senate and state comptroller's choices are considered.
While appearing in Lancaster Tuesday, Tokasz did talk about the Legislature's potential choices.
The control board will be made up of seven members. Four will be appointed by the Governor.