Due to the timing of the availability of financial data this quarterly report is outdated. The Ulster County Comptroller’s office strives to release current, relevant financial data, but has experienced delays in the availability of that data as a result of the abrupt resignation of the former County Commissioner of Finance. The County’s 2022 Annual Financial Report was due with New York State 120 days after fiscal year end, or May 1, 2023, yet was not filed with the State until October 13, 2023. The County’s externalaudit and annual comprehensive financial report for the year ended December 31, 2022, was not completed until January 25, 2024.
At the close of 2022, the County saw revenues significantly exceed expenditures, resulting in an operating surplus for the third year in a row. The growing amount of fund balance resulted in policy revisions in 2023 and the creation of multiple fund balance reserves.
All financial data presented in this report is derived from a fund budgeted for in the County’s annual operating budget. The County’s capital projects fund, and all the County’s component units are excluded from this analysis.
