By Joyce Kryszak
Buffalo, NY – The Erie County Fiscal Stability Authority Friday made a clean sweep, rejecting the county's proposed 2008 budget, the four-year plan, and a request to let the county do its own borrowing.
County officials and control board members traded angry remarks and disagreed on everything from projected gaps in the out years of the plan to how much borrowing will cost. The control board says there will be a $20 million gap in 2008, and that it can save $600,000 if it does capital borrowing.
Comptroller Mark Poloncarz says taxpayers and groups waiting for their money will suffer.
"If the Legislature grants them (control board) the power to do the borrowing, then the Fiscal Authority will do the borrowing," Poloncarz said. "If the Legislature does not, there will be no borrowing in 2007. That could have serious financial ramifications for the county and for entities such as the Zoo and ECC, which are counting on the funding."
It will now be up to the County Legislature to decide if it will ask the board to borrow the money -- and to make any needed cuts to have the proposed budget meet their approval.