By Joyce Kryszak
Buffalo, NY – The revamped Erie County Fiscal Stability Authority continued its mission Wednesday to keep county officials on task. And the control board's list of requests came with a stern "or else."
A new no-nonsense agenda appears to have been set. Control Board Chairman Anthony Baynes worked methodically through a list of organizational items.
He then called up some top ranking county officials to answer some tough questions. Baynes and the rest of the board want information - on everything from the four year plan - to county leased property.
And Baynes said after the meeting that he's about done waiting.
"I've requested certain information for the last few weeks. They've failed to deliver," said Baynes. "There's a clear indication that I'm going to move for a hard control board if they don't deliver that information.
Specifically, Baynes said he wants a list of all buildings leased by the county. But the list of demands did not stop there.
The board unanimously approved a resolution calling for the county executive to submit to them his plan for bringing capital borrowing under control.
About $35 million of debt will be retired this year. But officials said the expected borrowing request will top $54 million. Board member Ken Kruly said the county needs to go on a debt diet.
"I think we would all share a concern there, because debt service payments don't open a park, or don't provide other services, or provide any tax relief for the public," said Kruly. "So, we need to do something to turn that around.
But Jim Hartman, who is the county's director of management initiatives, called the demand "ill advised." Hartman reminded the board of the county's settlement with the county medical center. He said that alone would eat up more than half the borrowing.
"If we were to stay within the original idea of a $30 million cap, we would have almost nothing left for the rest of county infrastructure."
Hartman said that further complicating county finances is the lack of progress on several initiatives.
The control board announced it will meet bi-weekly with county officials and the Buffalo Niagara Partnership, beginning next week, to keep tabs on those initiatives.
Despite the negative financial news, county comptroller Mark Poloncarz told the board he expects the Moody's rating agency to remove the negative watch listing for Erie County, and possibly even give it an upgrade.
But Baynes cautioned that the rating agencies would likely not look favorably on the county if it doesn't cut spending and borrowing, and ends up with a hard control board.