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Opinion

December 4, 2013

Rainy-day funds in danger of drying up

(Continued)

Don Smyers, the program’s executive director, went before the Otsego board at a public hearing recently to see if the county couldn’t part with more than the proposed $125,000 it will give Cornell for 2014. His chances don’t look good.

In 2011 and again in 2012, the program was getting $175,000 from Otsego County.

But that was before it started raining so hard.

The allocation was cut in the 2013 budget and again for 2014.

“In recent years, we’ve seen a real seesaw of financial support,” Smyers said, “and it’s made it difficult to deliver quality programs.”

Smyers said his agency is expected to spend nearly $40,000 from its reserves this year to keep programs operating.

“I’m not sure how much longer we can do that,” he said.

Just as families shouldn’t raid their 401(k) or IRA too often, those with bigger budgets may find that those rainy-day funds can get washed away if they’re not very, very careful.

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