Report Finds County Debt Fiscally Sound, Well Below Constitutional Limit,
AA Bond Rating Maintained
(Kingston, NY, June 10, 2026) – Ulster County Comptroller March S. Gallagher today released a Review of Ulster County’s Debt, a detailed examination of the County’s borrowing practices, outstanding obligations, and fiscal outlook as of December 31, 2025. The report concludes that the County’s debt posture is conservative, well-managed, and well within legal limits.
The County uses two instruments: long-term general obligation bonds and shorter-term bond anticipation notes (BANs), which are typically used while a project is underway and converted to bonds upon completion. As of December 31, 2025, Ulster County carries total outstanding debt of $155,265,524, comprised of $112,564,073 in general obligation bonds and $42,701,451 in BANs. This represents less than 8% of the County’s constitutional borrowing limit of approximately $1.9 billion, leaving $1.75 billion in unused borrowing capacity.
The County has maintained an AA bond rating from S&P Global Ratings since at least 2014, reflecting its status as a reliable, low-risk borrower and allowing it to access debt markets at favorable interest rates.
