Ulster County – Financial Condition (2014M-27)

Issued Date
May 09, 2014

Purpose of Audit

The purpose of our audit was to review the County’s financial condition for the period of January 1, 2012 through September 30, 2013.

Background

The County of Ulster is governed by a 23-member elected County Legislature and has a population of approximately 182,000 residents. General fund appropriations for 2013 totaled approximately $290 million.

Key Finding

  • Surplus funds are below the County’s policy which states that fund balance should be maintained at 5 to 10 percent of current operating expenditures.

Key Recommendation

  • Closely monitor the level of unexpended surplus funds in the general fund and ensure that budgets are structurally balanced without depleting the unexpended surplus funds.