For More Information Contact:
Contact: Alana Sawchuk, Executive Assistant to the Comptroller
asawchuk@dutchessny.gov/ comptroller@dutchessny.gov
(845) 486-2050
Dutchess County Comptroller Dan Aymar-Blair has announced the release of the Dutchess County Audited Basic Financial Statements. These statements include the Independent Auditors’ Reports from Drescher & Malecki LLP for the year ended December 31, 2024. Their audit reported no material weaknesses, significant deficiencies, or noncompliance. Dutchess County was rated as a “low-risk auditee.”
The Independent Audit Committee, chaired by the County Comptroller as provided by the charter, includes the Director of Finance, the Budget Director, and the Chair of the Legislature’s Budget, Finance and Personnel Committee. The Independent Audit Committee ensures the process’s integrity and independence from planning to testing to reporting.
General Fund revenues and other sources ($600,878,997) exceeded expenditures and other uses ($567,936,660) by $32,942,337. This surplus is attributed to an increase in state and federal aid, including $27,270,291 of COVID-19 relief funding, and higher-than-projected Opioid Settlement Funds.
The audited financial statements show that the unassigned fund balance for the general fund has increased to $104,317,378 in 2024, up from $85,319,769 in 2023. The unassigned fund balance is available for spending at the County’s discretion and constitutes approximately 54.2% of the General Fund’s total fund balance of $192,345,575 at December 31, 2024.
“Sales and use taxes” remains the highest source of revenue at $269,961,651 in 2024, up from $259,714,314 in 2023, but below the $273,146,018 projected in the adopted budget. Sales and use tax revenue is three times higher than property tax revenue, which was $90,510,741 in 2024.
The County’s most significant expense in 2024 was for “Economic Assistance and Opportunity,” making up 30.1% of total government activities expenses. “Economic Assistance and Opportunity” includes departments like Department of Children and Family Services and Office for the Aging.
Governmental activities increased the County’s net position by $12,691,615 for the year ended December 31, 2024, primarily due to increases in operating grants and contributions related to the spending and recognition of American Rescue Plan Act (“ARPA”) funding.
Federal funding accounted for $93,653,710, or 16.6%, of total expenditures.
At the end of 2024, the County’s governmental activities outstanding bonded debt totaled $304,587,566 and represents approximately 10.9% of the County’s debt limit.
“I’d like to thank the Independent Audit Committee and Drescher & Malecki for making this process both thorough and seamless,” said the Comptroller. “It should comfort taxpayers to know that the County has such competent partners in sound financial management and oversight.”
The full audited financial statements can be found here (.pdf).
The Comptroller’s Summary of the Financial Statements can be found here (.pdf).
