(Kingston, NY – June 24, 2021) Fund Balance can be thought of as Ulster County’s “rainy day fund.” It is a reserve used to cushion government entities from unforeseen circumstances such as unpredictable expenses or revenue shortfalls.
Since 2013 Ulster County’s Fund Balance Policy designates the desired level of “unrestricted” fund balance as 5-10% of the current operating annual expenditures. All financial policies including the Fund Balance Policy should be re-evaluated by the County Legislature every few years. The Ulster County Comptroller’s Office releases this Fund Balance Report in anticipation of legislative revision of the Fund Balance Policy in 2021.
