The New York state comptroller has reviewed Rockland County’s proposed budget for 2015.
New York State Comptroller Thomas DiNapoli Thursday said the revenue and expenditure projections in the proposed budget are reasonable, except for the possible revenue shortfall related to the expiration of the county mortgage recording tax law. DiNapoli says the county may face a $2.9 million revenue shortfall if it does not renew the law. DiNapoli acknowledged the budget’s staying within the state mandated 2 percent tax cap, and first-term Rockland County Executive Ed Day says it’s first time the county has not exceeded the tax cap. At the end of the 2014 fiscal year, the county’s outstanding deficit will be about $41 million. DiNapoli also noted the proposed budget includes an appropriation of $10 million to be applied against the outstanding deficit.
