BINGHAMTON N.Y – Broome County has secured additional state funding by spending less.
County Executive Jason Garnar announced that Broome County will receive over 3.1 million dollars in first year matching funds from New York State as part of the County Wide Shared Services Initiative.
The initiative, started by Governor Cuomo, tasked County Executives with finding ways to reduce spending and offered to match each county’s savings from their first year with additional funding.
Broome is the first county in the state to receive the funding and Garnar says it’s a win-win for taxpayers.
“It’s a great win for taxpayers. It represents about half our fund balance to put that into context, which is huge. We’re really glad the Governor offered this savings match,. So in addition to saving 3 million dollars a year anyway, we’re now getting this big check from Albany,” says Garnar.
Almost all of the 3.1 million dollars in savings from the first year came through Broome County’s partnership with the Capital District BOCES Pharmacy Purchasing Coalition.
The coalition enables participants to maintain their current pharmacy plans while leveraging large-scale group purchasing discounts.