COUNTY OF CHEMUNG – STATE OF NEW YORK...INTRODUCTORY SECTION Letter of Transmittal I-XIX GFOA...

COUNTY OF CHEMUNG – STATE OF NEW YORKOffice of the Chemung County Treasurer

320 East Market StreetElmira, New York 14901

Phone: (607)737-2926 Fax: (607)737-2846

COMPREHENSIVE ANNUAL FINANCIAL REPORTFor the Fiscal Year Ended December 31, 2019

Prepared by:Office of the Chemung County Treasurer

Jennifer FurmanCounty Treasurer

June 25, 2020

COUNTY OF CHEMUNG - STATE OF NEW YORKTABLE OF CONTENTS

PAGEINTRODUCTORY SECTION

Letter of Transmittal I-XIX

GFOA Certificate of Achievement XX

Organizational Chart XXI

Members of the Chemung County Legislature XXII

FINANCIAL SECTION

Independent Auditors' Report 1-2

Management's Discussion and Analysis 3-17

Basic Financial StatementsGovernment-Wide Financial Statements

Statement of Net Position 18Statement of Activities 19

Fund Financial StatementsBalance Sheet - Governmental Funds 20Reconciliation of the Governmental Funds Balance Sheet to the Government-Wide Statement of Net

Position 21Statement of Revenues, Expenditures and Changes in Fund Balances - Governmental Funds 22Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund Balances of the

Governmental Funds to the Government-Wide Statement of Activities 23Proprietary Funds

Statement of Net Position 24Statement of Revenues, Expenses and Changes in Fund Net Position 25Statement of Cash Flows 26

Fiduciary FundStatement of Fiduciary Net Position 27

Component UnitsStatement of Net Position 28Statement of Revenues, Expenses and Changes in Net Position 29

Notes to Basic Financial Statements 30-62

Required Supplementary InformationBudgetary Comparison Schedule - General Fund 63-64Schedule of Changes in the County's Total OPEB Liability and Related Ratios 65Schedule of County's Proportionate Share of the Net Pension Liability 66Schedule of Employer's Contributions - ERS 67Notes to Required Supplementary Information 68-69

Combining and Individual Fund Information and Other Supplementary InformationCombining Statements - Nonmajor Governmental Funds

Combining Balance Sheet 70Combining Statement of Revenues, Expenditures and Changes in Fund Balances 71

Combining Statements - Internal Service FundsCombining Statement of Net Position 72Combining Statement of Revenues, Expenses and Changes in Fund Net Position 73Combining Statement of Cash Flows 74

Fiduciary Fund - Statement of Changes in Assets and Liabilities 75Other Supplementary Information

Budgetary Comparison Schedule - Capital Projects Fund 76Budgetary Comparison Schedule - Solid Waste Fund 77Budgetary Comparison Schedule - County Road Fund 78Budgetary Comparison Schedule - Road Machinery Fund 79Budgetary Comparison Schedule - Sewer Funds 80

COUNTY OF CHEMUNG - STATE OF NEW YORKTABLE OF CONTENTS

STATISTICAL SECTION (UNAUDITED)Individual Fund Financial Statements and Schedules

General FundComparative Balance Sheets 81Comparative Statements of Revenues, Expenditures and Changes in Fund Balance 82

Capital Projects FundComparative Balance Sheets 83Comparative Statements of Revenues, Expenditures and Changes in Fund Balance 84

Special Revenue FundsSolid Waste Fund

Comparative Balance Sheets 85Comparative Statements of Revenues, Expenditures and Changes in Fund Balance 86

County Road FundComparative Balance Sheets 87Comparative Statements of Revenues, Expenditures and Changes in Fund Balance 88

Road Machinery FundComparative Balance Sheets 89Comparative Statements of Revenues, Expenditures and Changes in Fund Balance 90

Sewer FundsComparative Balance Sheets 91Comparative Statements of Revenues, Expenditures and Changes in Fund Balance 92

Proprietary FundsEnterprise FundsChemung County Nursing Facility

Comparative Statements of Net Position 93Comparative Statements of Revenues, Expenses and Changes in Fund Net Position 94

Elmira-Corning Regional AirportComparative Statements of Net Position 95Comparative Statements of Revenues, Expenses and Changes in Fund Net Position 96

Chemung Tobacco Asset Securitization CorporationComparative Statements of Net Position 97Comparative Statements of Revenues, Expenses and Changes in Fund Net Position 98

Internal Service FundsWorkers' Compensation Fund

Comparative Statements of Net Position 99Comparative Statements of Revenues, Expenses and Changes in Fund Net Position 100

Self Insurance FundComparative Statements of Net Position 101Comparative Statements of Revenues, Expenses and Changes in Fund Net Position 102

Financial TrendsNet Position by Component 103Primary Government Changes in Net Position 104Fund Balances of Governmental Funds 105Changes in Fund Balances of Governmental Funds 106

Revenue CapacityProperty Tax Levies and Full Value Assessment 107Top Ten Taxpayers 108Property Tax Levies and Collections 109Sales Tax Receipts and Quarterly Sales by Type 110

Debt CapacityRatio of Outstanding Debt by Type 111Ratio of General Bonded Debt Outstanding 112Direct and Overlapping Governmental Activities Debt 113Legal Debt Margin Information 114

Demographic and Economic Information 115

Operating InformationCounty Government Full Time Equivalents and Other Information 116Capital Asset Statistics by Function 117Ten Largest Employers 118

INTRODUCTORY SECTION

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CHEMUNG COUNTY OFFICE OF THE TREASURER

320 E. MARKET STREET P.O. BOX 588

ELMIRA, NEW YORK 14902-0588 (607)737-2926 FAX (607)737-2846

JENNIFER FURMANCOUNTY TREASURER

June 25, 2020

Taxpayers of Chemung County,Honorable Christopher Moss, County Executive,Members of the Chemung County Legislature, andEmployees of Chemung County

This Comprehensive Annual Financial Report (“CAFR”) for the County of Chemung, New York (the “County”)for the year ended December 31, 2019 has been prepared in accordance with generally accepted accounting principles as promulgated by the Governmental Accounting Standards Board. The responsibility for the accuracy and completeness of these statements belongs to the Office of the Treasurer of the County of Chemung. To the best of our knowledge and belief, the information in this CAFR presents fairly the financial position and results of operations of the County. All disclosures necessary to enable the governing body to evaluate and make informed decisions have been included.

The CAFR is presented in three sections: Introductory, Financial and Statistical. The Introductory Section consists of this letter of transmittal, which gives an overview of the County’s history and highlights of key departmental structure. The Financial Section includes the Independent Auditors' Report, Management’s Discussion and Analysis (MD&A), the basic financial statements and notes thereto, required supplementary information other than MD&A, and the underlying combining and individual fund financial statements (multi-year basis) and supporting schedules (multi-year basis) for the year ended December 31, 2019. The Statistical Section sets forth selected economic and demographic information for the County on a multiyear basis.

This report includes management’s representation as to the finances of the County. Accordingly, management assumes full responsibility for the completeness and accuracy of all the information presented herein. To provide a reasonable basis for making these representations, the management of the County has established a comprehensive internal control framework that is designed to provide reasonable, but not absolute, assurance that the financial statements are free from material misstatement.

The County’s basic financial statements have been audited by the independent Certified Public Accounting firm of EFPR Group, CPA’s PLLC. The auditors are required to conduct the audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Those standards require that the audit be planned and performed to obtain reasonable assurance about whether the financial statements are free of material misstatement. The audit includes examining, on a test basis, evidencesupporting the amounts and disclosures in the financial statements. The audit also includes assessing the accounting principles used and significant estimates made by management as well as evaluating the overall financial statement presentation. As a result of their audit they have issued an unmodified opinion on the County’s basic financial statements for the year ended December 31, 2019.

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The independent audit of the County’s basic financial statements was part of a federally mandated “Single Audit” designed to report on specific requirements of the recipient of federal funds. The standards mandated under a Single Audit require the County to undergo an annual single audit in conformity with the provisions of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). The Single Audit includes the Schedule of Expenditures of Federal Awards, the independent auditors’ report on internal control over financial reporting and on compliance and other matters based on an audit of financial statements performed in accordance with Government Auditing Standards and a schedule of findings and questioned costs. This report is issued separately and a copy can be obtained at the Chemung County Treasurer’s Office, 320 East Market Street, Elmira, New York 14901.

PROFILE OF COUNTY OF CHEMUNG, NEW YORK

The County is situated on the New York-Pennsylvania State border in the area known as the Southern Tier of New York State. It is almost mid-center (east - west) in New York State and is approximately equidistant from Boston, Montreal, Washington, D.C. and Cleveland. The County encompasses a land area of 412 square miles. The City of Elmira is the County Seat.

The Elmira-Chemung County metropolitan area is a gateway to the Finger Lakes region and is the focal point of industry, business and recreation in the "Twin Tiers" area which is comprised of the New York counties of Chemung, Steuben, Schuyler and Tioga and the Pennsylvania counties of Bradford and Tioga.

The first permanent settlements in Chemung were made between 1787 and 1800 and occurred in Big Flats, Elmira, Southport, Van Etten and Veteran. In 1836, the County was officially formed from a portion of Tioga County. By 1867, it had eleven towns: Catlin, Veteran, Big Flats, Horseheads, Erin, Van Etten, Elmira, Baldwin, Southport, Ashland and Chemung.

In 1974, the County adopted the charter form of government. The charter provides for an independently elected Executive and Legislature. Under the County Charter, the County is divided into 15 legislative districts with an elected legislator representing each district in the County Legislature. The County Executive and each Legislator are elected to four year terms.

The County Treasurer is the Chief Fiscal Officer of the County. The County Treasurer is independently elected and serves a four year term. The Treasurer is responsible for the administration of the financial affairs of the County. The responsibilities of the Treasurer include collection and distribution of county funds, investing of excess funds, issuing debt, maintaining accounts and records and preparing financial reports including the annual financial statements.

The County provides an extensive range of services to its residents, including education, public safety, transportation, health, economic opportunity and development, culture and recreation, home and community services and general administrative support. This report includes all of the funds of the County. It includes all County organizations and activities for which the County is financially accountable. The County has considered all potential component units based on criteria set forth in GASB Statement No. 14 including legal standing, fiscal dependency and governance. Based on these criteria the Chemung County Industrial

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Development Agency and the Chemung County Soil and Water Conservation District are considered component units and are included in the County’s reporting entity as discrete presentations. The Chemung Tobacco Asset Securitization Corporation is considered a component unit and is included in the County’s reporting entity as a blended presentation.

The County also maintains budgetary controls to ensure compliance with legal provisions embodied in the annual budget approved by the County Legislature. The County Executive is required to submit the annual proposed budget and capital program to the Legislature on or before November 10th for their consideration. The Legislature must submit the proposed budget along with any changes they adopt back to the Executive not later than the 7th day of December for Executive approval or rejection of the changes. The Executive must submit his (her) objection to the changes, back to the Legislature not later than the 9th day of December. If the Executive does not submit objection to changes by the 9th of December, the budget is deemed adopted on that date. If objections are submitted, the Legislature can, with a three-fifths vote, override the Executives’objections. If the Legislature cannot get a three-fifths affirmative vote, the budget is deemed adopted with the Executive’s objections incorporated not later than the 15th day of December.

FACTORS AFFECTING FINANCIAL CONDITION

Community BackgroundThe U.S. Census bureau estimates that Chemung County currently has 83,456 residents, with 27,074 of those residents living in the City of Elmira. Because of its strategic location at the southern end of the Finger Lakes Region, Chemung County is known as the "Gateway to the Finger Lakes" and is the focal point of industry, business and recreation in the "Twin Tiers" area which is comprised of the New York counties of Chemung, Steuben, Schuyler and Tioga and the Pennsylvania counties of Bradford and Tioga. The County’s economy thrives on advanced manufacturing, healthcare, retail, tourism and agriculture.

Economic Drivers Affecting Financial Conditions

Economic development is a top priority for Chemung County, and economic development initiatives and polices are developed and influenced by county, city, state, and other municipal officials in conjunction with New York State Empire State Development Corporation (ESD), the Chemung County Industrial Development Agency (CCIDA), Southern Tier Economic Growth (STEG), Elmira Downtown Development Inc., and many other private, public, and not-for-profit partners.

Through NYS ESD, Chemung County is also an active participant in the Southern Tier Regional Economic Development Council (STREDC) formed by Governor Cuomo in 2011 to strategically change the way the Southern Tier leverages New York State resources via a community-based, bottom-up approach designed to meet the region’s needs by involving private-public partnerships of local experts and stakeholder. The REDC plan for the Southern Tier focuses on a strong foundation of target industries, higher education institutions, the nonprofit sector, and government agencies. Within this framework, the Southern Tier will take a collaborative, regional approach to attract talent and investment to develop industry clusters in advanced manufacturing, healthcare, food and agriculture, and tourism. In 2019, through the Regional Council process, Chemung County was awarded funding for 10 local and 4 regional projects with total State investment of over $3.2 million.

As part of the Southern Tier Region, Chemung County has significantly benefited from the $500 million, 5-year Upstate Revitalization Imitative (URI) grant awarded to the region in December 2015 by New York State ESD to the Southern Tier region for economic development projects. The primary areas targeted in Chemung County under this URI grant were the 1-86 Innovation Corridor and Elmira Refresh, but all areas of the County were eligible if there was a qualifying project. There are several URI projects and project updates worth noting as impactful in 2019 and for years to come.

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I-86 Innovation Corridor Strategic Action Plan – The I-86 Innovation Corridor was designed to accelerate public and private investment, create job opportunities, advance regional competitiveness and create the magnetism to draw and keep young and skilled workers in the I-86 Corridor. The I-86 Innovation Corridor is located between I-99 in Steuben County and the Elmira Interchange. In 2019 a Workforce Development Coordinator was hired to implement the Workforce Development Initiative.

Bucher Emhart Glass – a world leader in glass manufacturing is now settled into its new 107,000 square footfacility in the former Sikorsky building on Kahler Road in Big Flats. With the relocation of the factory, Emhart Glass was able to retain 110 jobs and provide for future expansion and consolidation opportunities. The project received approximately $1.3 million from the URI process. The location has proven to be very positive for the company. In 2019, the former Bucher Emhart Glass facility at 1140 Sullivan Street was sold to Boston-based property management firm Charlesbank Realty Group.

CemeCon Inc., is a manufacturer of carbide cutting tools with high performance coatings. Cemecon expandedits facility at the IST Center in Airport Corporate Park by 15,000 square feet to create a national headquarters and expand its CVD Diamond coating service. The expansion resulted in the creation of 12 additional jobs. This was designated as a Southern Tier priority project under the URI process. With the expansion and addition of new equipment, lead time to their customers will decrease from 10 days to 7 days.

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CVS – CVS continues to operate a 751,000 square foot Distribution Center in the Town of Chemung in Chemung County. This facility services hundreds of CVS drugstores throughout the northeast with an emphasis on the greater New York City area. CVS is the largest pharmaceutical chain in the USA and employs approximately 500 people at the local facility.

Vulcraft – Vulcraft is the leading producer of steel joists, joist girders and decking in the United States and operates in the Town of Chemung. Vulcraft currently employs approximately 270 people. In 2019, Vulcraft fabricated and donated metal stencils for mile makers along the 8.7 mile Lackawanna Rail Trail that runs through Chemung County.

Pladis (formerly DeMet’s Candy Company) – Pladis began production in their facility located at AirportCorporate Park in Big Flats, New York in the spring of 2009. They have hired over 250 full-time employees. They signed a contract with the entire Wal-Mart chain for the distribution of their candy products. Pladisrecently completed a 100,000-square-foot expansion of their facility on Daniel Zenker Drive in Big Flats, which was aided by a $1.8 million NYS URI award. The expansion allowed for the installation of state of the art equipment and the creation of an additional 70 new positions.

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Fed Ex - Built and continues to operate a $18 million distribution center at the HOST Terminal in Horseheads. The more than 150,000-square-foot facility has 286 parking spaces, 65 tractor trailer parking spaces, 40 delivery van spaces and 36 loading docks, and has created 130 jobs. FedEx conducted an extensive search along Interstate 86 before selecting the Horseheads site.

Wayfair - is a national home furnishings e-commerce customer service business. Wayfair opened and continues to operate a sales and service center at the former Corning Shared Services building on Daniel Zenker Drive in Big Flats. The company has already created approximately 450 new jobs in Chemung County and the total target and final goal for the project is 600 jobs.

Corning Incorporated - Has announced its Corning Pharmaceutical Technologies project at its Big Flats Innovative Support Center. This $50 million project is expected to create 185 jobs. Corning has invented a new product line, “Valor Glass” for the pharmaceutical packaging marketplace and has created a new business division. This project was designated as a Southern Tier priority project under the URI process and a $6 million grant was awarded. In May 2020, Corning Incorporated announced a very positive long-term purchase and supply agreement for Corning Valor Glass with pharmaceutical giant Pfizer Inc.

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John G. Ullman & Associates - officially relocated its wealth and wealth management services in 2019 to a 30,000-square foot facility at 343 Daniel Zenker Drive (former Wick Building), with a grand opening on March 1, 2019. Approximately 50 employees relocated.

Pioneer Credit Recovery, Inc.- a subsidiary of Navient, was awarded a federal contract that will increase employment levels at their Daniel Zenker Drive location from 300 to 600 jobs and will include several millions of dollars of capital improvements at the former General Revenue Corporation facility.

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Cameron Manufacturing & Design - Cameron Manufacturing & Design (“Cameron”), a locally owned company, is a highly successful metal fabrication business in the Village of Horseheads. They produce specialized fabrication products and have been growing their employment on an annual basis. Cameron received a $400,000 URI grant to assist with the purchase of an additional facility that will allow them to consolidate two off-site leased facilities creating production efficiencies and facilitating expansion plans.

Elmira Refresh - is a plan for the revitalization of downtown Elmira, a nearly 600-acre area that includes the city’s central business district. The plan was boosted by the fact that Elmira was selected as the Southern Tier Region community that would receive the Downtown Revitalization Initiative (DRI) award for $10 million. The vision and strategic framework for this plan is built on making Elmira the eastern anchor for the I-86 Innovation Corridor. Strategically located between major commercial corridors, Elmira’s compact and walkable downtown is well positioned to become an active and diverse college community that will attract new businesses and skilled workers, foster growth in arts and cultural attractions, expand housing options for all income levels,develop amenities that enhance downtown living and quality of life and capitalize on natural assets such as the Chemung River.

Envision Elmira - is a mixed-use redevelopment of the former Werdenberg’s building in Downtown Elmira. This redevelopment project resulted in public and private investment of over $700,000 and included façade restoration, two first floor storefronts, and four market rate apartments on the second floor. The first commercial tenant includes Downtown Grind, a popular café, with another commercial tenant slated for 2020.

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West Water Street Row House Project - is a mixed-use redevelopment of 389-399 West Water Street. These long neglected properties received $1.2 million dollars in improvements that resulted in 16 market rate apartments and two commercial units. This project received $140,000 in URI support and a $200,000 Urban Initiative Grant.

111 Midtown Building - this property was part of a preliminary design project funded by the Chemung County Industrial Development Agency (IDA) to help attract a qualified developer. In 2019 the building was purchased by a developer that also owns the Werdenberg Building in downtown Elmira. The building will be renovated into mixed use commercial and residential space.

West Water Street Revitalization Project - is a mixed-use project at the long vacant former Rosenbaum’sand Harold’s site. Developer Park Grove Realty constructed the 65,000 square-foot, mixed use development. The $14 million project includes commercial and retail space and features 51 market rate apartments and 16,000-square-feet of commercial space. The project was supported by $4 million of NYS Downtown Revitalization Initiative funds and $2.3 million from Empire State Development through Restore NY Communities Initiative. The project also included private investment of $6 to $7 million. The building opened on September 18, 2019. The 51 market rate apartments are all occupied, LaBella Associates P. C. occupies6,200 square feet of space on the first floor with approximately 30 employees; Wells Fargo occupies another 17,000 square feet of commercial space, and Elmira Tea & Coffee House, operated by Capabilities, Inc., opened for business in early 2020.

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Baldwin Street Redevelopment - The former Schreibman building on Baldwin Street is a 3-story, 10,000 square foot mixed use space of 110-114 Baldwin Street project by developer Jim Capriotti. The renovated space will include 11 apartments and 4 commercial spaces. This project will reduce blight and vacancy in downtown Elmira.

Libertad Elmira - The Vecino group completed Libertad Elmira in 2019, a $20 million renovation of the former Jones Court located on Elmira’s Northside. The 88,000 square foot building opened in September 2019 with 91units of affordable housing, including 20 units set aside for homeless veterans. The project removes a long-blighted property in Elmira. This project was designated as a Southern Tier property project under the URI process.

Lake Street Pedestrian Bridge Project - has received a NYSDOT grant for $3.7 million that will create a walking/bicycle trail from the north side to the south side of Elmira. The 20 percent local share will be funded through the $10 million DRI grant.

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Chemung Properties LLC - has redeveloped 465 East Water Street in Elmira (former Honda dealership) into its Culligan Water operation site. The consolidation will retain 35 jobs and provide additional commercial activity on the Water Street corridor in Elmira, which included a $2 million renovation to the facility. CulliganWater recently purchased Chemung Spring Water and merged into the new location.

SEPAC, Inc. Upgrade Project - will allow the company to purchase an advanced machining center that will help the company to source higher volumes. SEPAC, a custom engineering company that manufactures motion control products including clutches and brakes is located on Lake Road in Elmira. This will help SEPAC retain 34 jobs and add an additional 12 jobs. This project was designated as a Southern Tier Priority project under the URI process. SEPAC has recently acquired another clutch and break company that will be relocated to Elmira and will create an additional 28 jobs.

Gerard Block (118-126 Lake Street) Project - Gerard Block Apartments consists of two historic three-story buildings, each with commercial space on the first floor and two floors of apartments above. Development includes substantially rehabilitating the existing commercial store fronts into functioning commercial space and creating 22 affordable apartment units. This $10 million dollar project removes blight and creates opportunity for commercial development in downtown Elmira. Arbor Housing began construction in October 2019.

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Chemung Crossings - Chemung Crossings, on Elmira’s Southside, is a $14 million mixed-use scattered-site development project. The project involved the revitalization of ten sites in the South Main, West Henry and Harmon Street area. The development will provides 8 buildings and include 45 apartments and 3,200 square-feet of commercial space. Chemung Crossings opened in November 2019 and all units were rented.

110 North Main Street Redevelopment - Renovation of 110-120 North Main Street, a 3 story building with approximately 7,240 square feet of commercial space and 11,076 sf of residential space that will be renovated into 18 residential units. This project removes blight and creates housing and business opportunity in downtown Elmira.

Clemens Square Redevelopment - this project is in final design phase and includes improvements to the area near the Centertown Parking garage and spans the walkable corridor from N Main Street to the Clemens Center. The project includes safety improvements, lighting, and visitor amenities. The Centertown Parking garage will also be improved with lighting, signage and safety features. Across the street on Water Street, Riverfront Park will also be improved with new plantings, seating, and improved connectivity to the Chemung River.

ILL Eagle Taphouse - The former and long vacant Federal Building on Church Street is now a taphouse/restaurant that features NYS craft style beverages and locally sourced food.

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Iszards Building - The former department store and long vacant building was purchased by Ithaca-baseddeveloper Visum, with plans to renovate the building into 30 plus market rate apartments and at least 5 commercial spaces.

Other Chemung County Development and URI Projects

DePuy Synthes – DePuy Synthes (“Synthes”) is a world leader in orthopedic implant devices. Synthes constructed a $14 million manufacturing facility across from the airport. This facility initially employed 150 people. They have experienced continued growth in their business over the last several years and now employ over 400 people.

CAF, USA – CAF, USA (“CAF”) is a rail car manufacturer located in the County and has several contracts pending or in various states of completion. With these contracts the CAF facility located in the County could be producing and refurbishing hundreds of new rail cars over the next several years. CAF currently employs more than 350 people and that number is expected to increase over the next several years.

Kennedy Valve – Kennedy is a division of McWane, Inc. and is one of the world’s largest manufacturers of fire hydrants. Kennedy Valve employs more than 330 people at its Chemung County plant located in the City of Elmira.

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Anchor Glass Container – Anchor Glass Container (“Anchor Glass”) is a retail glass manufacturer. Anchor Glass employs approximately 240 people in the Chemung County plant. Its product line consists of clear, green, brown and other colors of glass jars, bottles and containers. Anchor Glass markets its products to numerous food and beverage retailers, with customers that include Anheuser-Busch, Stroh Brewery, Coca-Cola Trading Company, Specialty Products Company, Jim Beam, and Hunt Wesson. Anchor Glass recently completed a nearly $20 million furnace re-bricking and equipment modernization that will ensure the plant remains in Elmira. This project received a $1.3 million dollar URI grant. Anchor Glass manufactures 3.7 million containers every day.

Hardinge, Inc. – Hardinge, Inc. (“Hardinge”) is the leader in providing a wide range of highly reliable turning, milling, grinding and work holding solutions. Hardinge supports a variety of market applications, including aerospace, automotive, medical, energy, construction, agriculture, mod, tool and die, and more. The company currently employs 375 to 400 people. The company will invest $8 to $10 million and move a few product lines to their Horseheads facility, creating 12-15 additional jobs.

Hilliard Corporation – Hilliard Corporation (“Hilliard”) is a world leader in motion control and filtration technology. Hilliard has been located in Elmira, New York since 1905. The Hilliard Corporation offers a broad line of motion control products, oil filtration and reclaiming equipment, starters for industrial gas, diesel engines and gas turbines, and plate and frame filter presses used in the food and beverage industry. Hilliard currently employs 450 people. Hilliard began construction on additional space at their Elmira location in 2019 and they are a crucial partner in creating a walkable space connecting LECOM Medical school to downtown Elmira.

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Howell Packaging – Howell Packaging (“Howell”) is a division of F. M. Howell and Company, which began operations in Chemung County in 1883. Howell is a designer and manufacturer of folding cartons, rigid boxes and thermoformed plastic containers for a variety of applications including the pharmaceutical industry. Howell, located on Elmira’s Southside started a $8 million packaging equipment technology upgrade to improve their global competitiveness in four separate business units that currently provide 200 jobs. This project was designated as a Southern Tier priority project under the URI process.

URI

Eaton Electric - Eaton is a power management company with $21 billion dollars of sales worldwide. Eaton provides energy-efficient solutions that help customers effectively manage electrical, hydraulic and mechanical power more efficiently, safely and sustainably. Eaton employs 260 at its facility in Horseheads, New York.

Ferrario Auto – Ferrario is merging 13 properties into a 20,000 square foot auto sales center with additional retail/commercial build out. This will be a $10 to 12 million dollar project.

Williams Auto Group – Williams is in the process of building a 37,000 square foot auto sales center on County Route 64.

County Kids Childcare Center – County Kids Childcare Center will relocate existing operations to a newly built facility at Airport Corporate Park thanks to Empire State Development funding of $400,000.

Health Care

There are two major hospitals within the County. St. Joseph's Hospital is a church affiliated facility and has been in operation for over seventy years and Arnot-Ogden Medical Center is a non-denominational facility,which began in 1888 and has grown with the area. In 2011, Arnot and St. Joseph’s along with Ira Davenport Hospital in Bath, New York merged and are now providing services in a much more efficient manner. The combined entity employs over 3,300 people. In addition, Guthrie Healthcare System operates several outpatient clinics throughout the County. Guthrie now operates the new Corning Hospital, opened in July 2014, just across the county line from Big Flats. In 2019, Guthrie also renovated the 45,000 square foot former Chase Pitkin building in Chemung County into its Big Flats Medical Office Building. Guthrie provides a variety of outpatient healthcare services from this new space. The State Psychiatric Center is a 300-bed facility with 410 employees.

Arnot Ogden Medical Center St. Joseph’s Hospital

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In addition, Lake Erie College of Osteopathic Medicine (LECOM) built a medical school on the campus of Elmira College in downtown Elmira. The project received $3 million in URI funding. The $20 million construction project for this 50,000 square foot project began in 2018 and was in final stages in late 2019. LECOM anticipates a grand opening and starting of their first semester in July of 2020. The school will matriculate 490 residents and generate 45-50 jobs.

Recreation

The County is located in the southern part of the Finger Lakes region and is within easy travel of all Finger Lakes, the closest of which is Seneca Lake, 25 miles to the north. County residents enjoy two County Parks, in addition to numerous playgrounds, swimming and wading pools, three public golf courses and other points of interest. One of the County Parks hosts the world renowned Harris Hill Soaring Site, which offers picnic areas, amusements, cabins and the Soaring Museum, along with glider rides and a close up view of this exhilarating sport and the majestic river valley below. Park Station is a County facility that provides more than 100 acres of lake and lands for campgrounds, swimming, boating and other fun.

Harris Hill Park Pool Park Station Lake

National Soaring Museum Hang Glider at Harris Hill

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Not surprisingly, tourism is a growing industry in the County. Hundreds of thousands of visitors from around the world annually visit such attractions as the Mark Twain study on the campus of Elmira College, the National Soaring Museum, Wings of Eagles Discovery Center, Arnot Art Museum, the County Historical Museums, the Clemens Center with its Broadway Series presentations, Dunn Field (the home of the College League Baseball’s Elmira Pioneers), First Arena (home of the Elmira Enforcers, Federal Hockey League) and a host of other shopping, recreational, entertainment, cultural and leisure time attractions.

First Arena Clemens Center Dunn Field

Thanks to new regional partnerships, the County hosts a healthy share of the numerous visitors who each year visit the world renowned Finger Lakes, wineries, Watkins Glen Gorge, Watkins Glen International Speedway, the Corning Museum of Glass and other nearby attractions of New York’s Southern Tier.

Transportation

Air transportation is available through the County-owned Elmira-Corning Regional Airport (ELM). It is served by Atlantic Aviation and Premier Aviation as Fixed Base Operators (FBO’s), Delta Connection and Allegiant Air. The airport is the only airport in the region with sufficient runway length to accommodate larger regional jets. As a result of the economic growth in the area the airport has experienced a significant increase in enplanements over the last decade. In 2019, total enplanements at the Airport reached an all-time record of 157,338, a significant increase over the 2018 enplanements total of 141,806, and largely attributable to new air service.

Although the Elmira Corning Regional Airport terminal renovation was substantially complete in 2018, the new terminal really came to life in 2019. The new facility offers nearly 30,000 additional usable square footage for tenants and passengers, over 17,000 square foot of glass walls provide open views of the airfield and surrounding scenic countryside, a new departure kiosk and two new jet bridges. Courtyards in the new terminal are accessible both pre and post security, and are equipped with Wi-Fi connectivity and terminal announcements. This $60 million terminal upgrade was funded in its entirety by State and Federal grants of nearly $57 million and Passenger Facility Charges (PFC) attached to each passenger ticket.

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In addition to air transportation, the County manages an interior network of roads totaling about 780 miles. The Highway Departments in the Towns, City of Elmira and the County cooperate to provide quality highways and various services. The Southern Tier Expressway (Federal Interstate 86), which passes through Elmira, runs from the New York City area to cities and markets in the western section of the State. The New York Thruway is accessible 65 miles to the north at Geneva on Route #14. Route #13 provides the County with a valuable connection to Federal Interstate Route #81, 55 miles to the north located in Cortland. Route #15 which is being upgraded to Federal Interstate Route #99 provides access to Pennsylvania and southern markets. Federal Interstate Route #390 provides a direct route to Rochester.

Elmira also has railroad facilities on the main line of Norfolk Southern. Eight daily freight connections are provided in routes to New York; Hoboken, New Jersey and Chicago.

Lastly, local and regional bus service is available to county residents. Local bus transportation is provided to county residents by First Transit with routes available to a five county area. Short Line and Capital Trailwaysalso offer services with connecting routes throughout New York and surrounding states.

Sales Tax

In addition to manufacturing, Chemung County is the retail center of five counties in New York State and the northern tier of Pennsylvania. There are over three million square feet of retail space in the mall and four plaza complexes located in the County. This retail complex has been the mainstay of the County’s sales tax collections and the County continues to see potential for even further retail growth as we move forward with arenaissance in downtown Elmira.

Chemung County is one of the few counties that collects more in sales tax than property tax. This is significant due to the fact that over thirty five percent of all sales tax generated in the County comes from shoppers who reside outside the County’s borders. Even as retail shifts to a more online marketplace, Chemung County is adapting to this shift with a transfer of commerce to new restaurants and café’s now setting up shop in the downtown Elmira area, as well as with new commercial growth along County Route 64, and continued economic development throughout the County.

In 2019, gross sales tax in Chemung County grew by 2.32% and reached an all-time high at $62.47 million dollars. After distributions to other municipalities, the net county share of sales tax in 2019 was $45.78 million dollars. For 2019, sales tax growth was budgeted at 1.2% over 2018 actual sales, so a sales tax surplus was recognized in 2019. Part of the growth in 2019 is related to recent changes by New York State related to internet sales tax, the full impact of which will likely yield over half a million dollars to Chemung County on a full annual basis.

LONG-TERM FINANCIAL PLANNING

Chemung County had a change in leadership in 2019, with a new County Executive, County Treasurer, and a significant change in the composition of the 15 members of the County Legislature. The County Executive and his management team developed the 2020 Budget, which was adopted by the County Legislature in December 2019. The 2020 Budget Message reflects a long range plan that emphasizes prudent operation of county government to provide essential public services in the most economical manner, along with continued focus on economic development. A few specific focus areas of the new administration are to include: a review of the County’s health insurance program; a review of shared services agreements; negotiation of collective bargaining agreements at competitive pay rates to attract and retain a strong county workforce; a review of the current sales tax distribution formula; and a review of the county operated Chemung County Nursing Facility. The County will also invest significantly in sewer infrastructure over the next several year to be compliant with environmental standards and to replace an outdated, inefficient sewer system.

XIX

In 2019, the County exercised an option outlined in the current Operation Management and Lease (OML) agreement with Casella Waste Management, Inc. to increase the amount of acceptable waste being received at the landfill located in the Town of Chemung. Exercising of this option will provide Chemung County with approximately $31.2 million dollars over a 17-year period. This additional funding will be utilized to offset normal growth in annual operating expenses.

The County also expects to continue to benefit from New York State’s efforts to update its sales tax laws to accommodate changes in the internet retail marketplace. After making AIM restoration payments and fulfilling sales tax sharing obligations with other municipalities, the County expects to net over half a million dollars annually from internet sales tax, with possible future growth in this area.

A new economic development team also assembled in 2019, with a new Executive Director appointed to the Chemung County Industrial Development Agency. So far the new team has assisted in the completion of many exciting projects along the I-86 Innovation Corridor and projects associated with the Elmira Refresh initiative. In 2019, working with the Regional Economic Development Council (REDC), the county’s economic development team also secured new funding for 10 local and 4 regional projects with total State investment of over $3.2 million.

Prior to COVID-19, the County was benefitting from a period of moderate economic growth. The County is expecting 2020 revenue shortfalls as a result of COVID-19, however the County expects to recover and has set up a Business Recovery Unit to assist local businesses and government leaders impacted by COVID-19.

ACKNOWLEDGEMENT

Government Finance Officers Association of the United States and Canada (GFOA) awarded a Certificate of Achievement for Excellence in Financial Reporting to the County of Chemung for its comprehensive annual financial report for the fiscal year ended December 31, 2018. This was the sixth consecutive year that the government has achieved this prestigious award. In order to be awarded a Certificate of Achievement, a government must publish an easily readable and efficiently organized comprehensive annual financial report. This report must satisfy both generally accepted accounting principles and applicable legal requirements.

A Certificate of Achievement is valid for a period of one year only. We believe that our current comprehensive annual report for 2019 continues to meet the Certificate of Achievement Program’s requirements and we are once again submitting it to GFOA for a determine of eligibility.

The presentation of this report would not be possible without the hard work and dedication of the Treasurer’s Office staff, and County Controller Rejean Archambeault, as well as the support of the County Executive, Deputy County Executive, and County Budget Director. I would also like to acknowledge the hard work and professionalism of our independent auditors, EFPR Group, CPAs, PLLC, in this effort.

Respectfully Submitted,

Jennifer FurmanCounty Treasurer

CCHEMUNG COUNTY ORGANIZATIONAL CHART

CHEMUNGCOUNTY

VOTERS

COUNTY

LEGISLATURE

COUNTY

EXECUTIVE

TomSantulli

ELECTED

OFFICIALS

CHAIRMAN

DonnaDraxler

LEGISLATIVE

COMMITTEES

BUDGET

DIRECTOR

DEPUTY

EXECUTIVEADMIN.

BOARDS

ADMINISTRATIVE

SERVICES HUMAN

SERVICES

PHYSICAL

SERVICES

COUNTY

JAIL

DWI

EMPLOYEEBENEFITS/MEDICAL &DENTAL INS

LICENSE

BUREAU

MENTALHEALTH

PURCHASING

STOREROOM

COMMUN-

ICATIONS

911

LAWDEPARTMENT/

CO ATTORNEY

BryanMaggs

RECORDS &

INFORMATION

SamanthaPotter

PERSONNEL

MichaelMucci

PLANNING

CENTRAL

SERVICES

TriciaWise

REAL

PROPERTY

TheresaMurdock

DATA

PROCESSING

SteveWilber

AIRPORT

BUILDINGS

&

GROUNDS (Inc CITY)

BobDieterle

PUBLIC

WORKS (Inc CITY)

AndyAvery

TRANSIT

SERVICES

*Not County

BOARDOF

ELECTIONS

Siglin& Emmer

HEALTH

DEPARTMENT

Peter Buzzetti

SEWERDISTRICTS

Matthew Hourihan

CHEMUNGLANDFILL

MikeKrusen/Casella

COUNTY

TREASURER

Joseph Sartori

COUNTY

CLERK

CatherineHughes

DISTRICT

ATTORNEY

WeedenWetmore

SHERIFF

OFFICE FOR

THE AGING&

LONGTERM CARE

KimSalisbury

NURSING

FACILITY

Michael Youmans

HUMAN

RELATIONS

**Contract

VETERANS

SERVICES

MichaelMurphy

PROBATION

SOCIAL

SERVICES

Jennifer Stimson

WEIGHTS

AND

MEASURES

**Contact

EMERGENCY

MANAGEMENT

MarkCicora

YOUTH

BUREAU

BobHarris

PARKS&

RECREATION

BobDieterle

PUBLIC

DEFENDER

Scott Fierro

CHEMUNGCOUNTY

VOTERS

COUNTY

LEGISLATURE

COUNTY

EXECUTIVE

ChristopherMoss

ELECTED

OFFICIALS

CHAIRMANDavidManchester

LEGISLATIVE

COMMITTEES

BUDGET

DIRECTORStevenHoover

DEPUTY

EXECUTIVEDavidSheen

ADMIN.

BOARDS

ADMINISTRATIVE

SERVICES HUMAN

SERVICES

PHYSICAL

SERVICES

COUNTY

JAIL

DWI

EMPLOYEEBENEFITS/MEDICAL &DENTAL INS

LICENSE

BUREAU

MENTALHEALTH

PURCHASING

STOREROOM

COMMUN-

ICATIONS

911

LAWDEPARTMENT/

CO ATTORNEY

RECORDS &

INFORMATION

PERSONNEL

PLANNING

CENTRAL

SERVICES

REAL

PROPERTY

DATA

PROCESSING

AIRPORT

BUILDINGS

&

GROUNDS (Inc CITY)

PUBLIC

WORKS (Inc CITY)

PUBLIC

TRANSPORTATION

SERVICES

BOARDOF

ELECTIONS

HEALTH

DEPARTMENT

SEWERDISTRICTS

CHEMUNGLANDFILL

COUNTY

TREASURERJennifer Furman

COUNTY

CLERKCatherineHughes

DISTRICT

ATTORNEYWeedenWetmore

SHERIFFWilliamSchrom

OFFICE FOR

THE AGING&

LONGTERM CARE

NURSING

FACILITY

HUMAN

RELATIONS

VETERANS

SERVICES

PROBATION

SOCIAL

SERVICES

WEIGHTS

AND

MEASURES

EMERGENCY

MANAGEMENT

YOUTH

BUREAU

PARKS&

RECREATION

PUBLIC

DEFENDER

XXI

COUNTY OF CHEMUNG - STATE OF NEW YORKMembers of the Chemung County Legislature

2019

John C. Pastrick First District

David L. Manchester Second District

L. Thomas Sweet Third District

Joseph C. Brennan Fourth District

Mark Margeson Fifth District

Brian Hyland Sixth District

Christina Sonsire Seventh District

Peggy L. Woodard Eighth District

John Burin Ninth District

Martin Chalk Tenth District

Robert Briggs Eleventh District

Bill McCarthy Twelfth District

Scott Drake Thirteenth District

Michael S. Smith Fourteenth District

Rodney J. Strange Fifteenth District

XXII

FINANCIAL SECTIONIndependent Auditors' Report

INDEPENDENT AUDITORS' REPORT

To the Members of the County LegislatureCounty of Chemung - State of New YorkElmira, New York

Report on the Financial Statements

We have audited the accompanying financial statements of the governmental activities, the business-type activities, the aggregate discretely presentedcomponent units, each major fund, and the aggregate remaining fund information of the County of Chemung - State of New York, as of and for the yearended December 31, 2019, and the related notes to the financial statements, which collectively comprise the County of Chemung - State of New York'sbasic financial statements as listed in the table of contents. We did not audit the financial statements of the Chemung County Nursing Facility, which isboth a major fund and 15 percent, 5 percent and 72 percent, respectively, of the assets, net position, and revenues of the business-type activities. Wedid not audit the financial statements of the Chemung County Soil and Water Conservation District, which is both a major fund and 17 percent, 21percent, and 63 percent, respectively, of the assets, net position, and revenues of discretely presented component units. We did not audit the financialstatements of the Chemung County Industrial Development Agency, which is both a major fund and 83 percent, 79 percent, and 37 percent, respectively,of the assets, net position, and revenues of discretely presented component units.

Management's Responsibility for the Financial Statements

Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generallyaccepted in the United States of America; this includes the design, implementation, and maintenance of internal control relevant to the preparation andfair presentation of financial statements that are free from material misstatement, whether due to fraud or error.

Auditors' Responsibility

Our responsibility is to express opinions on these financial statements based on our audit. We did not audit the financial statements of the ChemungCounty Nursing Facility, which is both a major fund and 15 percent, 5 percent, and 72 percent, respectively, of the assets, net position, and revenues ofthe business-type activities. We did not audit the financial statements of the Chemung County Soil and Water Conservation District, which is both amajor fund and 17 percent, 21 percent, and 63 percent, respectively, of the assets, net position, and revenues of discretely presented component units.We did not audit the financial statements of the Chemung County Industrial Development Agency, which is both a major fund and 83 percent, 79percent, and 37 percent, respectively, of the assets, net position, and revenues of discretely presented component units. Those statements wereaudited by other auditors whose report has been furnished to us, and our opinion, insofar as it relates to the amounts included for the Chemung CountyNursing Facility, the Chemung County Soil and Water Conservation District and the Chemung County Industrial Development Agency, is based solelyon the reports of the other auditors. We conducted our audit in accordance with auditing standards generally accepted in the United States of Americaand the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States.Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free frommaterial misstatement. The financial statements of the Chemung County Nursing Facility were not audited in accordance with Government AuditingStandards.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The proceduresselected depend on the auditors' judgment, including the assessment of the risks of material misstatement of the financial statements, whether due tofraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity's preparation and fair presentation of thefinancial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion onthe effectiveness of the entity's internal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness ofaccounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overallpresentation of the financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions.

Opinions

In our opinion, based on our audit and the report of the other auditors, the financial statements referred to above present fairly, in all material respects,the respective financial position of the governmental activities, the business-type activities, the aggregate discretely presented component units, eachmajor fund, and the aggregate remaining fund information of the County of Chemung - State of New York, as of December 31, 2019, and the respectivechanges in financial position and, where applicable, cash flows thereof for the year then ended in accordance with accounting principles generallyaccepted in the United States of America.

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8 Denison Parkway East, Suite 407Corning, NY 14830 P 607.962.6891TF 800.546.7556F 607.973.2174W EFPRgroup.com

Other Matters

Emphasis of Matter

As discussed in Note 20 to the financial statements, the 2018 financial statements have been restated to correct compensated absences to include theestimated value of future sick leave termination payments previously not reported. Our opinions are not modified with respect to that matter.

Required Supplementary Information

Accounting principles generally accepted in the United States of America require that the management's discussion and analysis and the other requiredsupplementary information, as listed in the table of contents, on pages 3 - 17 and 63 - 69, respectively, be presented to supplement the basic financialstatements. Such information, although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board, whoconsiders it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historicalcontext. We and the other auditors have applied certain limited procedures to the required supplementary information in accordance with auditingstandards generally accepted in the United States of America, which consisted of inquiries of management about the methods of preparing theinformation and comparing the information for consistency with management's responses to our inquiries, the basic financial statements, and otherknowledge we obtained during our audit of the basic financial statements. We do not express an opinion or provide any assurance on the informationbecause the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance.

Other Information

Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the County of Chemung - State ofNew York's basic financial statements. The introductory section, combining and individual fund information and other supplementary information, andstatistical section, are presented for purposes of additional analysis and are not a required part of the basic financial statements.

The combining and individual fund information and other supplementary information on pages 70 - 80 are the responsibility of management and wasderived from and relates directly to the underlying accounting and other records used to prepare the basic financial statements. Such information hasbeen subjected to the auditing procedures applied in the audit of the basic financial statements and certain additional procedures, including comparingand reconciling such information directly to the underlying accounting and other records used to prepare the basic financial statements or to the basicfinancial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States ofAmerica by us and other auditors. In our opinion, based on our audit, the procedures performed as described above, and the report of the other auditors,the combining and individual fund information and other supplementary information is fairly stated, in all material respects, in relation to the basicfinancial statements as a whole.

The introductory and statistical sections on pages I - XXII and 81 - 118, respectively, have not been subjected to the auditing procedures applied in theaudit of the basic financial statements and, accordingly, we do not express an opinion or provide any assurance on them.

Other Reporting Required by Government Auditing Standards

In accordance with Government Auditing Standards, we have also issued our report dated June 25, 2020, on our consideration of the County ofChemung - State of New York's internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations,contracts, and grant agreements and other matters. The purpose of that report is solely to describe the scope of our testing of internal control overfinancial reporting and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the County of Chemung - State ofNew York's internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance withGovernment Auditing Standards in considering the County of Chemung - State of New York's internal control over financial reporting and compliance.

EFPR Group, CPAs, PLLCCorning, New YorkJune 25, 2020

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FINANCIAL SECTIONManagement's Discussion and Analysis

COUNTY OF CHEMUNG - STATE OF NEW YORKManagement's Discussion and AnalysisFor the Year Ended December 31, 2019

Introduction

Our discussion and analysis of the County of Chemung - State of New York's (the "County") financial performanceprovides an overview of the County's financial activities for the fiscal year ended December 31, 2019. It also providesa description and understanding of the various financial statements and other financial and statistical informationcontained herein. This section is only an introduction and should be read in conjunction with the County's basicfinancial statements, which immediately follow this section.

Financial Highlights

! The County's net position, as of December 31, 2019, in the government-wide statements amounted to$75,333,220 for all governmental activities. The unrestricted net position was a deficit balance of $19,572,675and the net investment in capital assets was $94,905,895 as of December 31, 2019. The deficit balance wascaused by GASB 75.

! The County's net position, as of December 31, 2019, in the government-wide statements amounted to$97,812,490 for all business-type activities. The unrestricted net position was a deficit balance of $3,103,135, thenet investment in capital assets was $99,435,165 and $1,480,460 was restricted as of December 31, 2019.

! The "current ratio", which is an indicator of liquidity, for governmental activities was 1.74 and 2.12 as of December31, 2019 and 2018, respectively.

! The "current ratio", which is an indicator of liquidity, for business-type activities was 1.94 and 1.31 as ofDecember 31, 2019 and 2018, respectively.

! Governmental activities net position increased by $5,948,369 or 8.57% in 2019, as compared with an increase of$812,487 or 1.12% in 2018.

! Business-type net position decreased by $381,482 or 0.39% in 2019, as compared with an increase of$41,815,017 or 73.37% in 2018.

Overview of the Financial Statements

The discussion and analysis provided here is intended to serve as an introduction to the County's basic financialstatements. The County's basic financial statements consist of three components: 1) government-wide financialstatements, 2) fund financial statements, and 3) the notes to the basic financial statements. This report also includesrequired and other supplementary information intended to furnish additional detail to support the basic financialstatements themselves.

Government-Wide Financial Statements

The government-wide financial statements are designed to provide readers with a broad overview of the County'sfinances, in a manner similar to a private-sector business. The statement of net position presents financial informationon all of the County's assets, liabilities, and deferred inflows/outflows of resources, with the difference reported as netposition. Over time, increases or decreases in net position may serve as a useful indicator of whether the financialposition of the County is improving or deteriorating. Net position is classified into three components as follows:

Net Investment in Capital Assets - This amount of net position reports the difference between capital assets andthe outstanding balance of debt issued to purchase or construct capital assets, with adjustments forpremiums/discounts on debt issuances, debt related outflows/inflows and unspent debt proceeds.

Restricted Net Position - This amount is restricted by external creditors, grantors, contributors or laws orregulations of other governments.

Unrestricted Net Position - This amount is all net position that is not invested in capital assets or restricted netposition.

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The statement of activities presents information showing how the County's net position changed during the mostrecent fiscal year. All changes in net position are reported as soon as the underlying event giving rise to the changeoccurs, regardless of the timing of the related cash flows. Thus, revenues and expenses are reported for some itemsthat will only result in cash flows in future fiscal periods.

Both of the government-wide financial statements distinguish functions of the County that are principally supported bytaxes and intergovernmental revenues, governmental activities, from other functions that are intended to recover all ora significant portion of their costs through user fees and charges, business-type activities. The governmental activitiesof the County include general government support, education, public safety, health, transportation, economicassistance, culture and recreation, home and community services, and debt interest. The business-type activities ofthe County include operations of the Chemung County Nursing Facility, operations of the Elmira-Corning RegionalAirport and activities conducted by the Chemung Tobacco Asset Securitization Corporation.

The government-wide financial statements include not only the County itself, known as the primary government, butalso legally separate component units for which the County is financially accountable. Financial information for thesecomponent units is reported separately from the financial information presented for the primary government itself. TheChemung County Industrial Development Agency and the Chemung County Soil and Water Conservation District,although legally separate, function for all practical purposes as departments of the County, and therefore have beenincluded as component units of the County.

The government-wide financial statements can be found on pages 18 - 19 of this report.

Fund Financial Statements

A fund is a grouping of related accounts that is used to maintain control over resources that have been segregated forspecific activities or objectives. The County, like other state and local governments, uses fund accounting to ensureand demonstrate compliance with finance-related legal requirements. All of the funds of the County can be divided intothree categories: governmental funds, proprietary funds and fiduciary funds.

Governmental Funds

Governmental funds are used to account for essentially the same functions reported as governmental activities inthe government-wide financial statements. However, unlike the government-wide financial statements,governmental fund financial statements focus on near-term inflows and outflows of spendable resources, as well ason balances of spendable resources available at the end of the fiscal year. Such information may be useful inassessing a government’s near-term financing requirements.

Because the focus of governmental funds is narrower than that of the government-wide financial statements, it isuseful to compare the information presented for governmental funds with similar information presented forgovernmental activities in the government-wide financial statements. By doing so, readers may better understandthe long-term impact of the government’s near-term financing decisions. Both the governmental fund balance sheetand the governmental fund statement of revenues, expenditures and changes in fund balances provide areconciliation to facilitate this comparison between governmental funds and governmental activities.

The County maintains six governmental funds. Information is presented separately in the governmental fundbalance sheet and in the governmental fund statement of revenues, expenditures and changes in fund balances forthe general and capital projects funds, which are considered to be the County's only major funds as defined by theGovernmental Accounting Standards Board Statement No. 34. Data from the other four funds are combined into asingle aggregated presentation as total nonmajor funds. These include, solid waste, road machinery, sewer andcounty road. Individual fund data for the nonmajor funds is provided in the form of combining statements in thecombining and individual fund statements and schedules in the other supplementary information section of thisreport. The basic governmental fund financial statements can be found on pages 20 - 23 of this report.

The County legally adopts an annual budget for all governmental funds. Budgetary comparison statements havebeen provided to demonstrate compliance with this budget.

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Proprietary Funds

The County maintains two different types of proprietary funds. Enterprise funds are used to report the samefunctions presented as business-type activities in the government-wide financial statements. The County usesenterprise funds to account for the Chemung County Nursing Facility, the Elmira-Corning Regional Airport and theChemung Tobacco Asset Securitization Corporation. Internal service funds are an accounting device used toaccumulate and allocate costs internally among the County's various functions. The County uses internal servicefunds to account for the workers' compensation and self insurance funds. Because internal service fundspredominantly benefit governmental rather than business-type functions, they have been included withingovernmental activities in the government-wide financial statements.

Proprietary funds provide the same type of information as the government-wide financial statements, only in moredetail. The proprietary fund financial statements provide separate information for the Chemung County NursingFacility, the Elmira-Corning Regional Airport and the Chemung Tobacco Asset Securitization Corporation, all ofwhich are considered to be major funds of the County. Conversely, both internal service funds are combined into asingle, aggregated presentation in the proprietary fund financial statements. Individual fund data for the internalservice funds is provided in the form of combining statements in the combining and individual fund statements andschedules in the other supplementary information section of this report. The basic proprietary fund financialstatements can be found on pages 24 - 26 of this report.

Fiduciary Fund

The fiduciary fund is used to account for resources held for the benefit of parties outside of the government.Fiduciary funds are not reported in the government-wide financial statements because the resources of those fundsare not available to support the County's own programs. The accounting used for the fiduciary fund is much likethat used for proprietary funds.

The County maintains one type of fiduciary fund. The agency fund reports resources held by the County in acustodial capacity for individuals, private organizations and other governments. Agency funds have nomeasurement focus. The fiduciary fund financial statement can be found on page 27 of this report.

Component Units

The discretely presented component unit financial statements include legally separate organizations for which theprimary government is not financially accountable but are reported based on the nature and significance of theirrelationship with the primary government. The discretely presented component unit financial statements can befound on page 28 - 29 of this report.

Notes to the Basic Financial Statements

The notes provide additional information that is necessary to acquire a full understanding of the data provided in thegovernment-wide and fund financial statements. The notes to the basic financial statements can be found on pages30 - 62 of this report.

Other Financial Information

In addition to the basic financial statements and accompanying notes, this report also presents requiredsupplementary information. This includes a budgetary comparison schedule for the general fund, schedule of changesin the County's total OPEB liability and related ratios, schedule of County's proportionate share of the net pensionliability, and schedule of employer's contributions - ERS. Also included in this section are the notes to the requiredsupplementary information. Required supplementary information can be found on pages 63 - 69 of this report.

Presented as other supplementary information, the combining statements for the nonmajor funds and internal servicefunds, fiduciary fund - statement of changes in assets and liabilities, and budgetary comparison schedules for thecapital projects fund, solid waste fund, county road fund, road machinery fund, and sewer fund are presentedimmediately following the required supplementary information. Combining and individual fund statements andschedules can be found on pages 70 - 80 of this report.

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Government-Wide Overall Financial Analysis

As noted earlier, over time increases or decreases in net position and the components of net position may serve as auseful indicator of a government’s financial position. The schedules on the following pages present condensed statementsof net position and condensed statement of activities in comparative format with the previous year for both governmentaland business-type activities. The change column indicates the net increases (or decrease) for each component of the netposition summary.

Condensed Statements of Net PositionDecember 31, 2019 and 2018

Governmental Activities Business-type ActivitiesRestated Restated

2019 2018 Change 2019 2018 ChangeAssetsCurrent assets $ 52,932,709 $ 46,661,262 $ 6,271,447 $ 13,354,206 $ 26,406,375 $ (13,052,169)Capital assets 137,335,571 127,127,092 10,208,479 108,640,605 109,549,353 (908,748)Other assets 508,003 508,003 - 722,081 1,309,527 (587,446)

Total assets 190,776,283 174,296,357 16,479,926 122,716,892 137,265,255 (14,548,363)

Deferred Outflows of Resources 12,330,142 21,616,893 (9,286,751) 2,968,954 4,429,118 (1,460,164)

Total Assets and DeferredOutflows of Resources $ 203,106,425 $ 195,913,250 $ 7,193,175 $ 125,685,846 $ 141,694,373 $ (16,008,527)

LiabilitiesCurrent liabilities $ 30,390,718 $ 21,961,539 $ 8,429,179 $ 6,885,966 $ 20,230,722 $ (13,344,756)Long-term liabilities 85,242,890 85,298,835 (55,945) 18,851,461 19,261,520 (410,059)

Total liabilities 115,633,608 107,260,374 8,373,234 25,737,427 39,492,242 (13,754,815)

Deferred Inflows of Resources 12,139,597 19,268,025 (7,128,428) 2,135,929 4,008,159 (1,872,230)

Net Position (Deficit)Net investment in capital assets 94,905,895 84,694,264 10,211,631 99,435,165 102,236,164 (2,800,999)Restricted - - - 1,480,460 1,820,808 (340,348)Unrestricted (19,572,675) (15,309,413) (4,263,262) (3,103,135) (5,863,000) 2,759,865

Total net position (deficit) 75,333,220 69,384,851 5,948,369 97,812,490 98,193,972 (381,482)

Total Liabilities, Deferred Inflowsof Resources and NetPosition $ 203,106,425 $ 195,913,250 $ 7,193,175 $ 125,685,846 $ 141,694,373 $ (16,008,527)

Within governmental activities, a change in total assets from 2018 to 2019 of $16.48 million was due to new investment innon-current capital assets of $10.2 million, as well as $6.27 million of increase in current assets, including $1.98 million incash and $4.28 million in state and federal receivables. Other assets including taxes receivable, accounts receivable,other receivables, due from towns and cities, and prepaid expenditures make up the difference in the change in currentassets. Deferred outflows decreased by $9.29 million due to pension and other post-employment benefit adjustments.Current liabilities increased from 2018 to 2019 by $8.43 million due primarily to an increase in short term internal balancesof $5.94 million and $2.64 million due to school districts and villages for unpaid taxes pending re-levy on County tax billsin 2020. Changes in other liabilities such as accrued liabilities and the current portion of bonds make up the difference inthe change in current liabilities. Long term liabilities remained relatively unchanged from 2018 to 2019, with only a smalldecrease of $55,945. As the largest component of long term liabilities, of particular note is the fact that long term bondspayable also remained relatively unchanged at $38.1 million. The combined increase of $7.91 million in compensatedabsences, capital leases, and the long term portion of net pension liability was more than offset by a decrease of $7.97million in the long term portion of post-employment benefits. Deferred inflows decreased by $7.13 million due to adecrease of $13.75 million required for GASB 68 pension adjustments combined with an increase of $6.62 million forGASB 75 other post-employment benefit adjustments.

- 6 -


For the business type activities, a decrease in total assets from 2018 to 2019 of approximately $14.55 million was due toof a large decrease of $15.66 million in current state and federal aid receivable from the prior year. The majority of thestate and federal aid receivable balance for the year ended December 31, 2018 was related to grant revenue outstandingfor capital projects at the Elmira Corning Regional Airport, including a large airport terminal construction project thatbegan in 2016. These airport grant balances were reimbursed in 2019, with only $2.23 million due as of December 31,2019 as compared to $17.89 million due as of December 31, 2018. Deferred outflows decreased by $1.46 million due topension and other post-employment benefit adjustments. Liabilities for business type activities decreased by $13.75million from the prior year due to a decrease in accounts payable of $9.86 million and a decrease in short-term payablesto other funds of $5.94 million, with both of these items are also related to the previously noted airport terminalconstruction project. Deferred inflows for business type activities decreased by $1.87 million due to a decrease of $2.66million required for pension adjustments under GASB 68 combined with an increase of $790,542 for other post-employment benefit adjustments required by GASB 75.

The largest portion of the County's net position reflects its investment in capital assets of nearly $94.91 million dollars forgovernmental activities and $99.44 million for business type activities. The County uses these capital assets to provide avariety of services to its citizens. Accordingly, these assets are not available for future spending. Although the County'sinvestment in capital assets is reported net of related debt, it should be noted that the resources used to repay this debtmust be provided from other sources, since the capital assets themselves cannot be used to liquidate these liabilities. Anadditional portion of the County's net position represents resources that are subject to external restrictions on how theymay be used. If available, any remaining balance of the County's net position is unrestricted and may be used to meet thegovernment’s ongoing obligations to its citizens and creditors.

Of significance and as noted in Note 20 (page 61) was the impact of a restatement of net position for both thegovernmental and business type activities to account for future sick leave termination payments not previously reported inthe County’s financial statements. The impact was a decrease to the governmental and business type activities netposition of $3,737,593 and $613,004, respectively.

Although unrestricted net position is a negative $19.57 million reported in governmental activities and a negative $3.10million reported for business type activities, these negative balances do not mean that the County does not have theresources available to meet its obligations for the ensuing year. Rather, these deficits are due to the fact that the Countyhas long term commitments including bonds and capital leases payable, compensated absences, and pension and otherpost-employment benefit obligations that are greater than currently available resources. The County expects futureresources that are not accounted for in these financial statements to be available to meet the current portion of long termcommitments in future years.

Net Position Components - Governmental Net Position Components - Business-Type

- 7 -


Condensed Statements of ActivitiesFor the Years Ended December 31, 2019 and 2018

Governmental Activities Business-type Activities2019 2018 Change 2019 2018 Change

RevenuesProgram Revenues

Charges for services $ 30,440,155 $ 30,641,744 $ (201,589) $ 22,091,098 $ 21,307,085 $ 784,013Operating grants and contributions 45,818,542 44,713,287 1,105,255 195,927 162,814 33,113Capital grants and contributions 6,875,590 5,023,533 1,852,057 - - -

General RevenuesProperty taxes and related items 36,687,288 36,250,932 436,356 - - -Nonproperty tax items 63,493,579 62,025,758 1,467,821 - - -Other revenue 7,237,064 7,330,062 (92,998) 5,849,685 7,099,101 (1,249,416)

Total revenues 190,552,218 185,985,316 4,566,902 28,136,710 28,569,000 (432,290)

Program ExpensesGeneral government support 38,574,393 37,778,891 795,502 292,535 306,931 (14,396)Education 3,349,714 3,364,482 (14,768) - - -Public safety 27,052,985 26,246,438 806,547 - - -Health 14,833,817 15,317,603 (483,786) 23,161,205 24,202,160 (1,040,955)Transportation 19,164,800 19,791,168 (626,368) 8,884,681 8,379,176 505,505Economic assistance 67,672,405 68,049,025 (376,620) - - -Culture and recreation 3,401,793 3,461,784 (59,991) - - -Home and community services 9,155,115 9,585,237 (430,122) - - -Debt interest 1,164,274 1,066,094 98,180 - - -

Total expenses 184,369,296 184,660,722 (291,426) 32,338,421 32,888,267 (549,846)

Increase (Decrease) in Net Position Before Contributions and Transfers 6,182,922 1,324,594 4,858,328 (4,201,711) (4,319,267) 117,556

Federal and state capital contributions - - - 3,585,676 45,622,177 (42,036,501)

Transfers (234,553) (512,107) 277,554 234,553 512,107 (277,554)

Changes in Net Position 5,948,369 812,487 5,135,882 (381,482) 41,815,017 (42,196,499)

Net Position - Beginning, asPreviously Stated 73,122,444 82,417,092 (9,294,648) 98,806,976 59,289,077 39,517,899

Restatement (3,737,593) (10,107,135) 6,369,542 (613,004) (2,297,118) 1,684,114

Net Position - Beginning, as Restated 69,384,851 72,309,957 (2,925,106) 98,193,972 56,991,959 41,202,013

Net Position - Ending $ 75,333,220 $ 73,122,444 $ 2,210,776 $ 97,812,490 $ 98,806,976 $ (994,486)

Comparative Expenses by Function

- 8 -


Governmental Activities Analysis

Governmental activities increased the County’s total net position by $5,948,369, which represents a 8.57%increase from 2018, with net position inclusive of restatement ending at $75,333,200 for fiscal year endedDecember 31, 2019. Overall, revenues for the County’s governmental activities totaled $190.55 million, anincrease of $4.57 million over 2018. Most notably, tax revenue consisting of real property tax and real property taxitems, as well as sales tax, increased by a total of $1.90 million (1.94%). Combined, tax revenues represent51.57% of all governmental activity revenues. Within tax revenue, gross sales tax increased by $1.41 million(2.32%) over 2018. Other real property tax items, including payments in lieu of taxes (PILOTs) and property taxinterest and fees, also increased by $686,833 (18.99%). Real property taxes decreased slightly by $250,477, butcurrent tax levy collections remained strong for 2019 at 93.98% and averaging 95.08% over the last 10 years.Similar to taxes, operating grants and contributions and capital grants and contributions increased by $1.11 millionand $1.85 million, respectively. Charges for services and other revenue decreased marginally by $294,587. Allother revenue components remained relatively unchanged or reported only small changes.

Expenses for fiscal year ended December 31, 2019 governmental activities totaled $184.37 million, a decrease of$291,426 from 2018. Expenses for governmental activities decreased over the prior year for the third consecutiveyear, with a total decrease of $6.61 million since 2016. The three largest components of governmental activitiesare economic assistance (i.e. social services programs) at $67,672,405 (36.70%), general government support(inclusive of sales tax distributions to other municipalities) at $38,574,393 (20.92%), and public safety (i.e. Sheriff’sdepartment and jail) at $27,052,985 (14.67%). Expenses for education, health, transportation, economicassistance, culture and recreation, and home and community services decreased by a combined $2.00 millionfrom 2018 to 2019. By contrast, expenses increased from 2018 to 2019 by $1.70 million combined for in generalgovernment support, public safety, and debt interest.

- 9 -


The County receives revenues from varying sources. Major funding sources and their relationship to total revenuefor the year are as follows:

2019 Revenues by Source

2018 Revenues by Source

- 10 -


Major expenses by function and their relationship to total expense for the year are as follows:

2019 Expenses by Function

2018 Expenses by Function

- 11 -


Business-type Activities Analysis

Business-type activities decreased the County’s overall net position by $381,482, which represents a 0.39%decrease from 2018, with net position inclusive of restatement ending at $97,812,490 for fiscal year endedDecember 31, 2019. Although there was a decrease of $432,290, which represents a 1.51% decrease from 2018in business type revenues, expenses for business type activities decreased by $549,846, which represents a1.67% decrease from 2018, producing a net increase before contributions and transfers of $117,556. Thedecrease in net position of $381,482 for business type activities, was therefore due to decreases in capital andoperating transfers. The completion of the Elmira-Corning Regional Airport renovation in 2019 was the cause ofthe substantial reduction in federal and state capital contributions, while improved financial results at the airport in2019 resulted in a reduced general fund contribution of $277,554. For the business type activities overall, netposition of the Elmira Corning Regional Airport and net position of the Chemung County Nursing Facilitydecreased by $379,701 and $228,369, respectively, while net position of the Chemung Tobacco AssetSecuritization Corporation increased by $226,588.

The proportionate shore of revenues by business type activity are as follows:

2019 Revenues by Fund

2018 Revenues by Fund

- 12 -


Financial Analysis of Governmental Funds

At December 31, 2019, the County's governmental funds reported combined fund balances of $23,716,568, a decrease of$3,040,457 from December 31, 2018. The general fund is the primary operating fund of the County. For the fiscal yearended December 31, 2019, the fund balance of the County's general fund increased by $2,765,698 to $27,236,256. Theunassigned portion of fund balance of the general fund was $25.22 million at year end, representing 92.59% of the totalgeneral fund balance of $27.24 million. Two useful measures of liquidity are the percentage of unassigned fund balanceto total expenditures, and total fund balance to total expenditures. As of December 31, 2019, the percentage ofunassigned fund balance to total expenditures and other financing uses was 15.45%, while the percentage of total fundbalance to total expenditures and other finances uses was $16.69%.

General fund revenues were $165,635,626, an increase of $2,283,343 as compared to 2018 revenues of $163,352,283.General fund expenditures and other financing uses were $162,869,928, a decrease of $800,604 as compared to 2018expenditures and other financing uses of $163,985,754. Major changes in specific revenue and expenditure componentswere as follows:

! Gross sales and use tax revenue increased moderately by $1,413,845 (2.32%) from $61,064,126 to $62,477,971 asthe economy remained strong in 2019.

! State aid revenue increased by $1,145,038 (5.14%) from $22,257,311 to $23,402,349 mainly due to state aid or grantincreases for Public Defense, 911 Emergency Operations, and programs for the Aging.

! Payment in lieu of taxes (PILOT) revenue increased by $334,047 (12.6%) as the County entered into several newPILOTs in 2019, while others required increased payments in 2019.

! Real property tax revenue decreased by $580,224 (-1.90%) as the number and amount of delinquent amountsreturned to the County by other municipalities continues to grow year after year. Despite this, property tax collectionsremain strong due to effective enforcement policies.

! Interfund transfers from the general fund to other funds decreased by $1,658,953 (-17.81%) as a result of reducedrequirements of the county road, capital projects, and airport funds in 2019.

! General government support expenditures increased $1,019,245 (3.32%) primarily as a result of $897,737 inincreased sales tax distributions and $253,313 in increased PILOT distributions. There were other offsettingdepartmental increases and decreases.

! Public safety expenditures increased $514,292 (3.19%) primarily due to E911 Communication system cost increases.Employee benefit expenditure increased by $735,926 (3.99%) because of increased pension and health insurancecosts in 2019.

Budget variances of the General Fund for 2019 can be found on the budgetary comparison schedule on pages 63 - 64within the required supplementary information section of this report.

The County's only other major fund, the capital projects fund, is used to account for the capital project activity throughoutthe County. For 2019, the capital projects fund reported a decrease in fund balance of $5,753,261, decreasing the fundbalance to a deficit of $4,190,275 at December 31, 2019. The year ending deficit and negative fund balance are becauseof timing issues as capital outlays in 2019 exceeded financing proceeds in 2019. The County expects to receive FederalEmergency Management Administration (FEMA) and New York State Environmental Facilities (NYS EFC) loan and grantproceeds in 2020 for 2019 project costs. Expenditures of $20.60 million in the capital projects fund exceeded the fiveyear average cost of expenditures of $13.50 million by $6.60 million. The 2019 increase reflects additional investment atboth of the County’s sewer districts. The County expects major investment in sewer infrastructure to continue over thenext five to seven years to bring the County’s sewer system into compliance with environmental standards.

- 13 -


As of December 31, 2019, total unassigned fund balance of the County’s governmental funds available for spending atthe government’s discretion was $18,820,504. The remainder of the fund balance is either nonspendable, restricted,committed, or assigned. The components of fund balance were as follows as of December 31, 2019:

Capital Asset and Debt Administration

Capital Assets - The County's net investment in capital assets for governmental and business-type activities as ofDecember 31, 2019 was $194,341,060. This represents an increase of $7,410,632 from 2018. Capital assets includeland, land improvements, buildings, building improvements, furniture, equipment, vehicles, construction in progress,infrastructure and accumulated depreciation. Infrastructure includes highways, bridges, airport runways and sewers. Inaccordance with GASB 34, these financial statements include all infrastructure constructed from 1980 through 2019. Theincrease in capital assets is due to normal annual investment in capital assets in the range of $12 million to $17 Milliondollars per year. See Note 5 to the basic financial statements beginning on page 41 for further information on theCounty's capital assets.

Bonds Payable - The County had total long-term general obligation bonds payable, net of bond premiums and discounts,for governmental and business-type activities of $53,555,657 as of December 31, 2019. Total bonds payable decreasedby $52,407 from the balance of $53,608,064 as of December 31, 2018, as a result of the issuance of Public ImprovementBonds, 2019, at a face value of $5,949,581. The 2019 bonds were issued to provide funding for various projects andimprovements. Due to its strong and healthy local economy, the County has maintained a credit rating of A1 from Moody'sInvestor Service for 2019 and 2018. See Note 11 to the basic financial statements beginning on page 48 for furtherinformation on the County's bonds payable.

- 14 -


General Fund Budgetary Highlights

Significant Variances Between Amended Budget and Actual Results

The most significant general fund differences between the County's budgeted amounts and actual results were asfollows:

AmendedBudget

ActualResults Variances

RevenuesState aid $ 27,587,500 $ 23,402,349 $ (4,185,151)

ExpendituresDepartment of social services - other $ 57,540,735 $ 54,368,287 $ 3,172,448Employee benefits - other $ 1,404,997 $ 296,174 $ 1,108,823

Other Financing Sources (Uses)Interfund transfers - out $ (9,326,376) $ (7,655,133) $ 1,671,243

On the revenue side, budgeted State Aid was $4.19 million higher than actual receipts in 2019 due to lower thanbudgeted state aid revenues in the Department Social Services (DSS). DSS State Aid revenues were lower thanbudgeted in State Aid-Other, Title XX, Social Services Administration, Social Services Child Care Block Grant, andother areas. Typically, lower than budgeted revenues in DSS would also mean that expenditures in these same areaswere under budget as the state aid or grant revenue is based on reimbursement of expenditures. The largest varianceof the combined DSS State Aid categories above was in State Aid-other of $3,085,028 where DSS budgeted forincreased revenue for Raise the Age expenditures that were actually significantly less than budgeted for 2019.

On the expenditure side, DSS budgeted $3,062,987 in 2019 for direct program expenditures related to New YorkState’s Raise the Age law in anticipation of additional out of county foster care placement and recipient expendituresfor the population of 16 and 17 year olds that are no longer prosecuted as adults in the criminal justice system. In 2019DSS only actually reported $240,336 in actual Raise the Age direct program expenditures. This program alonerepresents a budget to actual variance in DSS program expenditures of $2,822,651. There was also a large favorableDSS expenditure variance in DSS preventive services of $784,305, while the DSS recipient expenditures for DFYInstitutions and Therapeutic Foster Home care had combined unfavorable budget variance of $481,829. Overall DSShad a positive year as the average caseload size over all programs dropped from 2018 to 2019 by 619 cases, andreduced caseloads typically produce budget savings to the respective program areas.

For employee benefits, budget appropriation amendments of $1,102,489 were approved for 2019 health insurancecosts to the Health Insurance department in accordance with County Law Section 362 to reconcile with healthinsurance expenditures that were allocated to individual department accounts.

Within other financings sources and uses, there was a favorable budget variance associated with interfund transfers of$1,671,243, with actual transfers of $7,655,133 as compared to budgeted transfers of $9,326,376. The reason for thisvariance was better than expected budget performance in the county road and airport funds, resulting in reducedcontributions required from the General fund. For county road, a general fund contribution of $8,036,749 wasanticipated, however only $7,213,029 was required in 2019. For airport, a general fund contribution of $693,781 wasanticipated, however only $234,553 was required. The capital projects fund also required $388,295 less thananticipated due to Bond Anticipation Note debt payments that were paid off late in 2018 and therefore not required for2019.

- 15 -


Significant Variances Between Original and Amended Budget

The most significant general fund differences between the County's original and amended budgeted amounts were asfollows:

OriginalBudget

AmendedBudget Variances

RevenuesState aid $ 25,478,475 $ 27,587,500 $ 2,109,025

ExpendituresBus operations $ 2,923,718 $ 4,091,222 $ 1,167,504

Of the total budgeted State aid amendments of $2,109,025, the most significant were for various EmergencyManagement E911 grants totaling $742,840, while there was also $1,167,504 added to Bus Operations for New YorkState Department of Health revenue to fund Medicaid Transportation. Budgeted State aid amendments typically occurbecause State aid or grants are not finalized until after the budget is adopted.

Amended expenditures for Bus Operations of $1,167,504 was to fund a contractual expenditure to First Transit Inc. tooperation the County’s Medicaid Transportation program.

Economic Outlook and Future Benefits

As noted in the financial analysis discussion earlier, overall 2019 was a healthy year for the County as governmentalactivities improved the County’s net position by $5.95 million, and business type activities also improved operatingresults as compared to 2018. Areas of concern for future years include:

! The cost of unfunded mandates to the County, including the State run Medicaid program;! Reduced support from New York State in the form of State Aid cuts; ! The ability of the County to control costs at the Chemung County Nursing Facility and the reliance on the federal

IGT program and offsetting County subsidy to the nursing facility; ! Employee benefit costs in the form of contributions to the New York State and Local Retirement System, and

rising health care costs; ! Increasing home and community expenses, due to an aging sewer system and other capital assets requiring

significant future investment in infrastructure;! Long term liabilities relating to other postemployment benefits for retirees and net pension liability; ! Reliance on sales tax revenue;! Limitations on future property tax increases due to the NYS Tax Cap Legislation;! Recovery from the impact of COVID-19 on the County’s financial position, including possible reductions to State

funding sources.

Despite these factors, the County was able to adopt a budget for 2020 that stayed within the New York State tax capand only slightly increased the property tax rate by a modest 1%, going from $6.86 to $6.93 per thousand of assessedvalue from 2019 to 2020. Going forward, a few priorities of the new administration as established within the 2020Budget Message are controlling operating costs and fostering economic development, both of which will help addressareas of concern.

Building on past economic development successes in recent years, several new economic development projectsadvanced in 2019, including the opening of the West Water Street Revitalization building, Libertad Elmira, ChemungCrossings, and ILL Eagle Tap house. Most notably, construction of the LECOM medical school in downtown Elmira isnow complete and LECOM expects to start their first semester in July 2020. The renaissance in downtown Elmira ishelping to broaden the County’s sales tax base and is having a positive impact on property value.

The new terminal at the Elmira Corning Regional Airport is also contributing to economic growth as the airport had arecord setting year of total enplanements, added a new Fixed Based Operator, and expanded air service to severalnew destinations.

- 16 -


Other exciting updates include new commercial development along County Route 64, a new childcare centerscheduled to be built in Airport Corporate Park, and Corning Incorporated’s expansion of its Valor Glass product lineinto their Big Flats Innovative Support Center. Recent news from Corning Incorporated includes a long term contractfor Valor glass with pharmaceutical giant Pfizer Inc. and a brand new $204 million dollar federal award to produceValor glass vials for COVID-19 vaccines.

The public/private investment in the County has manifest itself in lower unemployment numbers and increased salestax collections in recent years. In 2019, gross sales tax collections increase by 2.32% over 2018, and through the firstquarter of 2020 sales tax collections were up approximately 4.70%. Certainly the County is expecting some setbackfrom COVID-19, but early indications are that the broader economy will rebound and the County expects the same andhas set up a Business Recovery Unit to assist local businesses and governments impacted by COVID-19.

County and Component Unit Contact Information

The County of Chemung's financial information can be obtained from the Chemung County Treasurer's Office, 320 E.Market Street, Elmira, NY 14901 or on the County website at www.chemungcounty.com.

Complete financial statements of individual component units can be obtained from their respective administrativeoffices. Addresses for each component unit are listed in Note 1 on page 31 of these financial statements.

- 17 -

FINANCIAL SECTIONBasic Financial Statements

COUNTY OF CHEMUNG - STATE OF NEW YORKStatement of Net Position

December 31, 2019

Primary GovernmentGovernmental

ActivitiesBusiness-type

Activities TotalComponent

Units

ASSETS AND DEFERRED OUTFLOWS OF RESOURCESCurrent AssetsCash and cash equivalents $ 15,792,603 $ 1,602,967 $ 17,395,570 $ 2,988,178Taxes receivable - net 9,618,911 - 9,618,911 -Accounts receivable - net - 5,438,356 5,438,356 165,224Other receivables - net 7,814,253 3,211,113 11,025,366 117,009State and federal aid receivables 17,332,622 2,227,278 19,559,900 -Due from towns and cities 334,863 - 334,863 -Prepaid expenses 1,975,166 699,189 2,674,355 27,305Due from external parties 64,291 28,663 92,954 -Other assets - 146,640 146,640 15,755Investments - - - 150,000Loans receivable - current portion - - - 100,000

Total current assets 52,932,709 13,354,206 66,286,915 3,563,471Noncurrent AssetsRestricted cash 508,003 722,081 1,230,084 435,623Cash with fiscal agents - - - 200,362Loans receivable - net of current portion - - - 240,099Property held for resale - - - 3,443,709Capital assets

Capital assets - not depreciated 25,226,951 5,192,217 30,419,168 2,175,764Capital assets - net of depreciation 112,108,620 103,448,388 215,557,008 1,443,572

Total noncurrent assets 137,843,574 109,362,686 247,206,260 7,939,129Deferred Outflows of ResourcesAdvance refunding proceeds - net 361,049 128,854 489,903 -Deferred outflows of resources - pension 9,896,257 2,412,520 12,308,777 46,038Deferred outflows of resources - OPEB 2,072,836 427,580 2,500,416 -

Total deferred outflows of resources 12,330,142 2,968,954 15,299,096 46,038

Total Assets and Deferred Outflows of Resources $ 203,106,425 $ 125,685,846 $ 328,792,271 $ 11,548,638

LIABILITIES, DEFERRED INFLOWS OF RESOURCES AND NET POSITIONCurrent LiabilitiesInternal balances $ 681,313 $ (681,313) $ - $ -Accounts payable 6,155,888 717,459 6,873,347 24,975Accrued liabilities 9,932,589 996,378 10,928,967 33,455Accrued interest payable 217,899 16,370 234,269 -Other liabilities 287,952 - 287,952 126Unearned revenues 1,169,321 - 1,169,321 883,194Line of credit - 102,330 102,330 7,808Due to other governments 156,687 - 156,687 -Due to school districts, delinquent taxes 2,403,072 - 2,403,072 -Due to towns and cities 2,598,432 - 2,598,432 -Due to villages, delinquent taxes 239,824 - 239,824 -Bond anticipation note payable - 3,095,157 3,095,157 -Bonds payable - current portion 5,471,575 2,478,091 7,949,666 711,982Capital leases - current portion 470,660 46,473 517,133 -Compensated absences - current portion 605,506 115,021 720,527 -Loan payable - current portion - - - 161,284

Total current liabilities 30,390,718 6,885,966 37,276,684 1,822,824Long-Term LiabilitiesBonds payable - net of current portion 38,107,767 7,498,224 45,605,991 357,494Capital leases - net of current portion 928,592 79,823 1,008,415 -Compensated absences - net of current portion 5,795,188 1,100,848 6,896,036 82,255Loan payable - net of current portion - - - 1,473,052Workers' compensation benefits - 2,496,057 2,496,057 -OPEB liability 28,538,427 4,782,117 33,320,544 -Net pension liability 11,872,916 2,894,392 14,767,308 48,284

Total long-term liabilities 85,242,890 18,851,461 104,094,351 1,961,085Total liabilities 115,633,608 25,737,427 141,371,035 3,783,909

Deferred Inflows of ResourcesDeferred inflows of resources - pension 5,518,831 1,345,387 6,864,218 17,315Deferred inflows of resources - OPEB 6,620,766 790,542 7,411,308 -

Total deferred inflows of resources 12,139,597 2,135,929 14,275,526 17,315Net Position Net investment in capital assets 94,905,895 99,435,165 194,341,060 3,619,336Restricted

Restricted FAA cash - 64,208 64,208 -Restricted soil and water grants - - - 253,304Restricted for tobacco reserves - 1,416,252 1,416,252 -Restricted industrial development agency - - - 200,362

Unrestricted (19,572,675) (3,103,135) (22,675,810) 3,674,412Total net position 75,333,220 97,812,490 173,145,710 7,747,414

Total Liabilities, Deferred Inflows of Resources and NetPosition $ 203,106,425 $ 125,685,846 $ 328,792,271 $ 11,548,638

The accompanying notes are an integral part of these financial statements.- 18 -

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- 19

-

COUNTY OF CHEMUNG - STATE OF NEW YORKBalance Sheet

Governmental FundsDecember 31, 2019

General FundCapital Projects

FundTotal Nonmajor

Funds

TotalGovernmental

Funds

ASSETS

AssetsCash and cash equivalents $ 15,789,291 $ - $ 3,312 $ 15,792,603Taxes receivable - net 9,618,911 - - 9,618,911Other receivables - net 6,346,191 - 1,082,143 7,428,334Due from other funds 10,480,086 1,721,704 897,253 13,099,043State and federal aid receivables 14,774,197 2,558,234 191 17,332,622Due from towns and cities 334,863 - - 334,863Prepaid expenditures 1,447,641 - 66,125 1,513,766Restricted cash - 508,003 - 508,003

Total Assets $ 58,791,180 $ 4,787,941 $ 2,049,024 $ 65,628,145

LIABILITIES, DEFERRED INFLOWS OF RESOURCES AND FUND BALANCES

LiabilitiesAccounts payable $ 3,370,951 $ 2,111,574 $ 572,754 $ 6,055,279Accrued liabilities 3,927,810 636 322,413 4,250,859Other liabilities - 287,952 - 287,952Unearned revenues 1,096,455 - - 1,096,455Due to other funds 12,637,756 6,578,054 480,874 19,696,684Due to other governments 154,291 - 2,396 156,687Due to school districts, delinquent taxes 2,403,072 - - 2,403,072Due to towns and cities 2,598,432 - - 2,598,432Due to villages, delinquent taxes 239,824 - - 239,824

Total liabilities 26,428,591 8,978,216 1,378,437 36,785,244

Deferred Inflows of ResourcesUnavailable property tax revenues 5,126,333 - - 5,126,333

Fund BalancesNonspendable

Prepaid expenditures 1,447,641 - 66,125 1,513,766Restricted

Restricted unspent bond proceeds - 2,187,869 - 2,187,869Committed

Committed for DWI funds 266,869 - - 266,869Committed for senior games 21,935 - - 21,935Committed for transit projects 7,623 - - 7,623

AssignedAssigned for solid waste - - 183,384 183,384Assigned for sewer - - 421,368 421,368Appropriated for subsequent year's budget 293,250 - - 293,250

Unassigned 25,198,938 (6,378,144) (290) 18,820,504Total fund balances 27,236,256 (4,190,275) 670,587 23,716,568

Total Liabilities, Deferred Inflows of Resources and Fund Balances $ 58,791,180 $ 4,787,941 $ 2,049,024 $ 65,628,145


COUNTY OF CHEMUNG - STATE OF NEW YORKReconciliation of the Governmental Funds Balance Sheet to the Government-Wide Statement of Net Position

December 31, 2019

Total Governmental Fund Balances $ 23,716,568

Amounts reported for governmental activities in the statement ofnet position are different because:

Capital assets used in governmental activities are not currentfinancial resources and therefore are not reported in the funds.These assets consisted of the following:

Land $ 11,908,523Construction in progress 13,318,428

Total capital assets - not depreciated 25,226,951Land improvements 1,741,166Buildings and building improvements 63,500,059Infrastructure 139,573,576Furniture, equipment and vehicles 43,546,486

Total depreciable assets 248,361,287Less, accumulated depreciation (136,252,667)

Total capital assets - net of depreciation 112,108,620

Property taxes receivable not considered available for currentoperations are deferred inflows in the government funds butrecognized as revenue in the statement of activities. 5,126,333

Certain liabilities are not due and payable in the current period andtherefore are not reported in the funds. These liabilities consistedof the following:

Bonds payable (43,579,342)Capital leases (1,399,252)Compensated absences (6,400,694)Accrued interest payable (217,899)

Total liabilities (51,597,187)

Pension and OPEB related liabilities and deferred inflows andoutflows are not financial resources or are not due and payable inthe current period and therefore are not reported in the funds. These consist of the following:

Deferred outflows of resources - pension 9,896,257Net pension liability (11,872,916)Deferred inflows of resources - pension (5,518,831)Deferred outflows of resources - OPEB 2,072,836Deferred inflows of resources - OPEB (6,620,766)Other postemployment benefits liability (28,538,427)

Total pension related items (40,581,847)

Other differences:Internal service funds are used to allocate collective costsacross funds. The assets, liabilities and deferredinflows/outflows of resources of these internal services fundsare included in the governmental activities statement of netposition but not in the governmental fund balances. The netbalance of those internal service funds are as follows:

Workers' compensation fund 817,505Self insurance fund 155,228

Total internal service funds 972,733

Advance refunding proceeds - net 361,049

Net Position of Governmental Activities $ 75,333,220


COUNTY OF CHEMUNG - STATE OF NEW YORKStatement of Revenues, Expenditures and Changes in Fund Balances -

Governmental FundsFor the Year Ended December 31, 2019

General FundCapital Projects

FundTotal Nonmajor

Funds

TotalGovernmental

FundsRevenuesReal property taxes $ 30,000,636 $ - $ 2,052,053 $ 32,052,689Real property tax items 4,302,860 - - 4,302,860Sales and use taxes 62,477,971 - - 62,477,971Occupancy taxes 657,804 - - 657,804Surcharge taxes 357,804 - - 357,804Department income 11,791,559 - 4,639,452 16,431,011Intergovernmental charges 4,370,358 672,451 - 5,042,809Use of money and property 435,288 - 1,341,848 1,777,136Licenses and permits 25,777 - 24,100 49,877Fines and forfeitures 225,386 - - 225,386Sale of property and compensation for loss 885,963 - 21,779 907,742Miscellaneous local sources 4,285,679 - 300,685 4,586,364State aid 23,402,349 3,018,675 3,489 26,424,513Federal aid 22,416,192 3,853,427 - 26,269,619

Total revenues 165,635,626 7,544,553 8,383,406 181,563,585

ExpendituresGeneral government support 31,748,394 1,954,779 - 33,703,173Education 3,349,714 - - 3,349,714Public safety 16,613,934 - - 16,613,934Health 11,485,617 - - 11,485,617Transportation 3,575,958 10,367,327 6,200,156 20,143,441Economic assistance 60,394,087 - - 60,394,087Culture and recreation 2,326,150 - - 2,326,150Home and community services 1,396,100 8,268,867 4,346,562 14,011,529Employee benefits 19,200,207 - 3,113,767 22,313,974Debt principal 4,394,078 - 870,012 5,264,090Debt interest 1,045,778 8,725 218,832 1,273,335

Total expenditures 155,530,017 20,599,698 14,749,329 190,879,044

Excess (Deficiency) of Revenues Over (Under) Expenditures 10,105,609 (13,055,145) (6,365,923) (9,315,459)

Other Financing Sources (Uses)Interfund transfers - in 273,391 1,107,551 7,213,029 8,593,971Issuance of debt 41,831 6,422,283 - 6,464,114Premium on issuance of bonds - 45,441 - 45,441Interfund transfers - out (7,655,133) (273,391) (900,000) (8,828,524)

Total other financing sources (uses) (7,339,911) 7,301,884 6,313,029 6,275,002

Net Change in Fund Balances (Deficit) 2,765,698 (5,753,261) (52,894) (3,040,457)

Fund Balances - Beginning 24,470,558 1,562,986 723,481 26,757,025

Fund Balances - Ending $ 27,236,256 $ (4,190,275) $ 670,587 $ 23,716,568


COUNTY OF CHEMUNG - STATE OF NEW YORKReconciliation of the Statement of Revenues, Expenditures and Changes in Fund Balances of the

Governmental Funds to the Government-Wide Statement of ActivitiesFor the Year Ended December 31, 2019

Net Change in Fund Balances - Total Governmental Funds $ (3,040,457)

Amounts reported for governmental activities in the statement of activities aredifferent because:

Governmental funds report capital outlays as expenditures. However, in thestatement of activities, the costs of those assets are allocated over theirestimated useful lives as depreciation expense. In the current period, theseamounts are the following:

Capital outlay $ 19,634,883Depreciation expense (9,392,226)

Excess of capital outlay over depreciation 10,242,657

Governmental funds report only the proceeds received from the disposal ofassets. In the statement of activities, a gain or loss is recorded for eachdisposal. This amount is the loss on the disposal of capital assets. (34,178)

Receipt of bond proceeds is a revenue in the governmental funds, but thereceipt increases the liabilities in the statement of net position. This amountis the current year debt proceeds. (5,473,425)

Repayment of capital leases are reported as an expenditure in thegovernmental funds, but the repayment reduces long-term liabilities in thestatement of net position. This amount is the net effect of these differences.

Additions to capital lease (990,689)Amortization of capital lease 526,806

(463,883)

Premiums and discounts are reported as revenues and expenditures in thegovernmental fund financial statements. These are capitalized in thegovernment-wide financial statements and amortized over the life of the debt.This amount is the net effect of these differences. 160,623

Repayment of long-term debt is reported as an expenditure in thegovernmental funds, but the repayment reduces long-term liabilities in thestatement of net position. This amount is the current year debt principalrepayments. 4,737,284

Advance refunding proceeds are reported as other financing sources in thegovernmental funds upon refunding of debt, but are capitalized for reportingpurposes in the government-wide statement of net position. Amounts will beamortized over the lives of the related debt. This amount is the net effect ofthese differences. (81,546)

Changes in the proportionate share of net pension liability reported in thestatement of activities do not provide for or require the use of currentfinancial resources and therefore are not reported as expenditures in thegovernment funds:

Change in deferred outflows of resources - pensions (8,458,361)Change in net pension liability (6,359,333)Change in deferred inflows of resources - pensions 13,749,194

(1,068,500)Changes in the other post employment benefit liability reported in thestatement of activities do not provide for or require the use of currentfinancial resources and therefore are not reported as expenditures in thegovernment funds:

Change in deferred outflows of resources - OPEB (746,844)Change in deferred inflows of resources - OPEB (6,620,766)Change in other post employment benefit liability 7,969,793

602,183

Some items reported in the statement of activities do not require the use ofcurrent financial resources and therefore are not reported as expenditures inthe governmental funds. In the current period, these amounts are thefollowing:

Change in compensated absences 189,521Change in accrued interest (15,457)Change in unavailable property tax revenues 331,739

505,803

Internal service funds are used by management to charge the costs ofinsurance to individual funds. The net revenue (expense) of the internalservice fund is reported with the governmental activities. (138,192)

Change in Net Position of Governmental Activities $ 5,948,369



Proprietary FundsDecember 31, 2019

Enterprise FundsChemung

CountyNursingFacility

Elmira-CorningRegionalAirport

ChemungTobacco AssetSecuritizationCorporation Total

InternalService Funds

ASSETS AND DEFERRED OUTFLOWS OF RESOURCESCurrent AssetsCash and cash equivalents $ 1,372,323 $ - $ 230,644 $ 1,602,967 $ -Accounts receivable - net 3,581,576 1,329,045 527,735 5,438,356 385,918State and federal receivables - 2,227,278 - 2,227,278 -Due from other funds 5,747,374 - - 5,747,374 5,980,619Due from external parties 28,663 - - 28,663 -Prepaid expenses 665,738 33,451 - 699,189 461,400Other receivables - current portion 3,211,113 - - 3,211,113 -Inventories 146,640 - - 146,640 -

Total current assets 14,753,427 3,589,774 758,379 19,101,580 6,827,937

Noncurrent AssetsRestricted cash - 64,208 657,873 722,081 -Capital assets - not depreciated 61,759 5,130,458 - 5,192,217 -Capital assets - net of depreciation 4,840,820 98,607,568 - 103,448,388 -

Total noncurrent assets 4,902,579 103,802,234 657,873 109,362,686 -

Deferred Outflows of ResourcesDeferred outflows of resources - pension 2,181,116 231,404 - 2,412,520 -Deferred outflows of resources - OPEB 381,888 45,692 - 427,580 -Advance refunding proceeds - net 77,151 51,703 - 128,854 -

Total deferred outflows of resources 2,640,155 328,799 - 2,968,954 -

Total Assets and Deferred Outflows of Resources $ 22,296,161 $ 107,720,807 $ 1,416,252 $ 131,433,220 $ 6,827,937

LIABILITIES, DEFERRED INFLOWS OF RESOURCES AND NET POSITION (DEFICIT)Current LiabilitiesAccounts payable $ 506,659 $ 210,800 $ - $ 717,459 $ 100,608Accrued liabilities - current portion 677,243 319,135 - 996,378 3,697,497Accrued interest payable - 16,370 - 16,370 -Due to third party payors 102,330 - - 102,330 -Due to other funds - 5,066,061 - 5,066,061 -Bond anticipation note payable - 3,095,157 - 3,095,157 -Compensated absences - current portion 98,339 16,682 - 115,021 -Bonds payable - current portion 516,730 493,577 1,467,784 2,478,091 -Capital lease - current portion - 46,473 - 46,473 -Unearned revenues - - - - 72,866

Total current liabilities 1,901,301 9,264,255 1,467,784 12,633,340 3,870,971

Long-Term LiabilitiesAccrued liabilities - net of current portion - - - - 1,984,233Compensated absences - net of current portion 941,181 159,667 - 1,100,848 -Bonds payable - net of current portion 2,987,381 2,015,843 2,495,000 7,498,224 -Capital lease - net of current portion - 79,823 - 79,823 -Workers' compensation benefits 2,496,057 - - 2,496,057 -OPEB liability 4,153,025 629,092 - 4,782,117 -Net pension liability 2,616,767 277,625 - 2,894,392 -

Total long-term liabilities 13,194,411 3,162,050 2,495,000 18,851,461 1,984,233

Deferred Inflows of ResourcesDeferred inflows of resources - pension 1,216,339 129,048 - 1,345,387 -Deferred inflows of resources - OPEB 644,596 145,946 - 790,542 -

Total deferred inflows of resources 1,860,935 274,994 - 2,135,929 -

Net Position (Deficit)Net investment in capital assets 1,376,309 98,058,856 - 99,435,165 -Restricted

Restricted FAA cash - 64,208 - 64,208 -Restricted for tobacco reserves - - 1,416,252 1,416,252 -

Unrestricted 3,963,205 (3,103,556) (3,962,784) (3,103,135) 972,733Total net position (deficit) 5,339,514 95,019,508 (2,546,532) 97,812,490 972,733

Total Liabilities, Deferred Inflows of Resources andNet Position (Deficit) $ 22,296,161 $ 107,720,807 $ 1,416,252 $ 131,433,220 $ 6,827,937


COUNTY OF CHEMUNG - STATE OF NEW YORKStatement of Revenues, Expenses and Changes in Fund Net Position

Proprietary FundsFor the Year Ended December 31, 2019






Operating RevenuesCharges for services - net $ 17,753,862 $ 4,337,236 $ - $ 22,091,098 $ 29,287,507Other revenues 5,178,974 151,588 500,208 5,830,770 180,367

Total operating revenues 22,932,836 4,488,824 500,208 27,921,868 29,467,874

Operating ExpensesPersonal services 9,211,888 977,532 - 10,189,420 -Employee benefits 6,539,194 654,299 - 7,193,493 29,606,066Contractual expenses 7,085,542 1,900,230 20,471 9,006,243 -Depreciation expense 527,192 5,289,710 - 5,816,902 -Indirect expenses 401,047 - - 401,047 -Postemployment healthcare (credits) benefits (255,329) - - (255,329) -Workers' compensation permanent benefit (credit) (458,126) - - (458,126) -

Total operating expenses 23,051,408 8,821,771 20,471 31,893,650 29,606,066

Operating Income (Loss) (118,572) (4,332,947) 479,737 (3,971,782) (138,192)

Nonoperating Revenues (Expenses)Federal and state grants - 195,927 - 195,927 -Interest expense (109,797) (62,910) (272,064) (444,771) -Interest income - - 18,915 18,915 -

Total nonoperating revenues (expenses) (109,797) 133,017 (253,149) (229,929) -

Income (Loss) Before Contributions and Transfers (228,369) (4,199,930) 226,588 (4,201,711) (138,192)

Federal and State Capital Contributions - 3,585,676 - 3,585,676 -

Transfers In - 234,553 - 234,553 -

Change in Net Position (228,369) (379,701) 226,588 (381,482) (138,192)

Net Position (Deficit) - Beginning, as Previously Stated 6,060,096 95,520,000 (2,773,120) 98,806,976 1,110,925

Restatement for Correction of Error (See Note 20) (492,213) (120,791) - (613,004) -

Net Position (Deficit) - Beginning, as Restated 5,567,883 95,399,209 (2,773,120) 98,193,972 1,110,925

Net Position (Deficit) - Ending $ 5,339,514 $ 95,019,508 $ (2,546,532) $ 97,812,490 $ 972,733


COUNTY OF CHEMUNG - STATE OF NEW YORKStatement of Cash Flows

Proprietary FundsFor the Year Ended December 31, 2019






Cash Flows from Operating ActivitiesReceipts from services provided $ 17,717,925 $ 4,320,448 $ - $ 22,038,373 $ 28,020,363Payments to suppliers for goods and services (4,020,265) (11,807,125) - (15,827,390) -Payments to employees for services and benefits (16,279,086) (1,666,703) - (17,945,789) (28,200,730)Proceeds of tobacco receipts - - 522,495 522,495 -Payments of operating expenses - - (20,471) (20,471) -Other receipts 63,382 151,588 - 214,970 180,367Inter-governmental transfer payments 4,231,184 - - 4,231,184 -

Net cash flows from operating activities 1,713,140 (9,001,792) 502,024 (6,786,628) -

Cash Flows from Noncapital Financing ActivitiesTransfers in - 234,553 - 234,553 -Due to other funds - (8,510,950) - (8,510,950) -Payment of bond principal - - (205,000) (205,000) -Payment of bond interest - - (269,689) (269,689) -

Net cash flows from noncapital financing activities - (8,276,397) (474,689) (8,751,086) -

Cash Flows from Capital and Related Financing ActivitiesPurchase and construction of capital assets (402,042) (4,562,058) - (4,964,100) -Proceeds from issuance of bonds - 517,987 - 517,987 -Proceeds from issuance of bond anticipation note - 2,379,299 - 2,379,299 -Payments for debt service - principal (513,295) (415,655) - (928,950) -Payments for debt service - interest (117,422) (80,491) - (197,913) -Receipts from federal and state subsidies - 19,439,107 - 19,439,107 -

Net cash flows from capital and related financing activities (1,032,759) 17,278,189 - 16,245,430 -

Cash Flows from Investing ActivitiesInterest income - - 17,270 17,270 -

Changes in Cash and Cash Equivalents 680,381 - 44,605 724,986 -

Cash and Cash Equivalents - Beginning 691,942 - 186,039 877,981 -

Cash and Cash Equivalents - Ending $ 1,372,323 $ - $ 230,644 $ 1,602,967 $ -

Reconciliation of Operating Income (Loss) to Net CashFlows from Operating Activities

Operating income (loss) $ (118,572) $ (4,332,947) $ 479,737 $ (3,971,782) $ (138,192)Adjustments

Depreciation expense 527,192 5,289,710 - 5,816,902 -Loss on sale of equipment 10,439 - - 10,439 -Bad debt expense 54,812 - - 54,812 -

Changes in assets and liabilitiesAccounts receivable - net (207,170) (381,099) 22,287 (565,982) 413Due from other funds 2,568,250 - - 2,568,250 (1,266,229)Other receivables - net (870,317) - - (870,317) -Inventories 17,420 - - 17,420 -Restricted cash - 364,311 - 364,311 -Prepaid expenses (295,470) - - (295,470) -Accounts payable 42,354 (9,906,895) - (9,864,541) 42,411Accrued liabilities - 66,256 - 66,256 1,362,925Unearned revenues - - - - (1,328)Accrued compensation and related liabilities (1,250,552) 69,320 - (1,181,232) -Due to third party payors 102,330 - - 102,330 -OPEB liability 653,689 (231,854) - 421,835 -Net pension liability 478,735 61,406 - 540,141 -

Net Cash Flows from Operating Activities $ 1,713,140 $ (9,001,792) $ 502,024 $ (6,786,628) $ -


COUNTY OF CHEMUNG - STATE OF NEW YORKStatement of Fiduciary Net Position

Fiduciary FundDecember 31, 2019

Agency FundAssetsCash and cash equivalents $ 2,665,844

Total Assets $ 2,665,844

LiabilitiesAccounts payable $ 33,127Other liabilities 2,539,763Due to other funds 92,954

Total Liabilities $ 2,665,844



Component UnitsDecember 31, 2019

IndustrialDevelopment

Agency

Soil and WaterConservation

District Total

ASSETS AND DEFERRED OUTFLOWS OF RESOURCES

Current AssetsCash and cash equivalents $ 2,881,262 $ 106,916 $ 2,988,178Accounts receivable - net 118,572 46,652 165,224Other receivables - net - 117,009 117,009Investments - 150,000 150,000Prepaid expenses 6,168 21,137 27,305Other assets 15,755 - 15,755Loans receivable - current portion 100,000 - 100,000

Total current assets 3,121,757 441,714 3,563,471

Noncurrent AssetsRestricted cash - 435,623 435,623Loans receivable - net of current portion 240,099 - 240,099Cash with fiscal agents 200,362 - 200,362Capital assets - net 2,536,631 1,082,705 3,619,336Property held for resale 3,443,709 - 3,443,709

Total noncurrent assets 6,420,801 1,518,328 7,939,129

Deferred Outflows of ResourcesDeferred outflows of resources - pension - 46,038 46,038

Total Assets and Deferred Outflows of Resources $ 9,542,558 $ 2,006,080 $ 11,548,638

LIABILITIES, DEFERRED INFLOWS OF RESOURCES AND NET POSITIONCurrent LiabilitiesAccounts payable $ 6,401 $ 18,574 $ 24,975Accrued liabilities 25,807 7,648 33,455Unearned revenues 700,875 182,319 883,194Other liabilities 126 - 126Line of credit 7,808 - 7,808Loans payable - current portion 161,284 - 161,284Bonds payable - current portion 711,982 - 711,982

Total current liabilities 1,614,283 208,541 1,822,824

Noncurrent LiabilitiesLoans payable - net of current portion 1,473,052 - 1,473,052Bonds payable - net of current portion 357,494 - 357,494Compensated absences - 82,255 82,255Net pension liability - 48,284 48,284

Total noncurrent liabilities 1,830,546 130,539 1,961,085

Total Liabilities 3,444,829 339,080 3,783,909

Deferred Inflows of ResourcesDeferred inflows of resources - pension - 17,315 17,315

Total deferred inflows of resources - 17,315 17,315

Net PositionNet investment in capital assets 2,536,631 1,082,705 3,619,336Restricted soil and water grants - 253,304 253,304Restricted industrial development agency 200,362 - 200,362Unrestricted 3,360,736 313,676 3,674,412

Total net position 6,097,729 1,649,685 7,747,414

Total Liabilities, Deferred Inflows of Resources and Net Position $ 9,542,558 $ 2,006,080 $ 11,548,638


COUNTY OF CHEMUNG - STATE OF NEW YORKStatement of Revenues, Expenses and Changes in Net Position

Component UnitsFor the Year Ended December 31, 2019

IndustrialDevelopment

Agency

Soil and WaterConservation

District Total

Expenses $ 717,035 $ 1,090,733 $ 1,807,768

Program RevenuesCharges for services 341,761 187,594 529,355Operating grants and contributions 160,000 851,954 1,011,954

Total program revenues 501,761 1,039,548 1,541,309

Net Program Expenses (215,274) (51,185) (266,459)

General RevenuesUse of money and property 35,922 10,913 46,835Miscellaneous local sources 128,136 116,448 244,584Sale of property and compensation for loss 4,029 (2,329) 1,700

Total general revenues 168,087 125,032 293,119

Special item - First Arena expenditures - net (91,138) - (91,138)

Changes in Net Position (138,325) 73,847 (64,478)

Net Position - Beginning 6,236,054 1,575,838 7,811,892

Net Position - Ending $ 6,097,729 $ 1,649,685 $ 7,747,414


COUNTY OF CHEMUNG - STATE OF NEW YORKNotes to Basic Financial Statements

Note 1. Summary of Significant Accounting Policies

Financial Reporting Entity

The County of Chemung - State of New York (the "County") was incorporated by an act of the State Legislatureon March 29, 1836. The County operates under a charter adopted by the County Board of Supervisors underlocal law number 3 in 1973 and effective January 1, 1974. Under the charter, the position of County Executivewas established. The Executive is elected to a four year term and is responsible for overall County operations.The charter also established a County Legislature consisting of fifteen members, each elected to four year terms.The Legislature is responsible for adopting a budget, approving amendments to the budget, enacting local lawsand approving tax rates.

The County provides the following basic services: educational assistance, economic assistance, highwayconstruction and maintenance, law enforcement, traffic safety, emergency management services, parks, youthand aging services, mental health, public health, and environmental control. All governmental activities andfunctions performed by the County are its direct responsibility.

The financial reporting entity is composed of the primary government, component units, and other organizationsthat are included to ensure the financial statements of the County are not misleading. The primary governmentfor the County consists of all funds, departments, boards, and agencies that are not legally separate from theCounty. In evaluating the County as a reporting entity, management has included all component units inaccordance with the Governmental Accounting Standards Board ("GASB") Statement No. 14, Defining theFinancial Reporting Entity, Statement No. 61, The Financial Reporting Entity: Omnibus, and GASB Statement No.80, Blending Requirements for Certain Component Units - an amendment of GASB Statement No. 14. Thedecision to include a potential component unit in the County's reporting entity is based on several criteria set forthin GASB Statements No. 14, No. 61 and No. 80 including legal standing, fiscal dependency, and financialaccountability. Based on the application of these criteria, the following is a brief review of certain entitiesconsidered in determining the County's reporting entity.

Chemung County Industrial Development Agency, Inc. - (the "Agency") is a Public Benefit Corporationcreated by state legislation to promote industrial and economic welfare for County inhabitants. The Agency isconsidered legally separate from the County. The Agency's Board of Directors are appointed by the CountyExecutive. The Agency's finances are generally restricted to amounts generated by project revenue bondsand such bonds are only secured to the extent of the assets acquired for the related project. Debt of theAgency is not an obligation of the County. Based on the authority that the County Executive has to appointthe Agency's Board of Directors and the significant influence the County Executive can impose, the Agencyis considered a component unit and is discretely presented. The Agency uses proprietary accounting.

Chemung County Soil and Water Conservation District - (the "District") is a County-wide district createdby the County to provide for the control and conservation of soil and water resources. The District isconsidered legally separate from the County. The District's Board of Directors are appointed by the CountyExecutive. The County provides a portion of the District's funding. The County's subsidy to the District for2019 was $160,000. Based on the authority that the County Executive has to appoint the District's Board ofDirectors and the significant influence the County Executive can impose, the District is considered acomponent unit and is discretely presented. The Soil and Water Conservation District uses proprietaryaccounting.

Chemung Tobacco Asset Securitization Corporation - (the "Corporation") is described in detail in Note16 of these financial statements. The Corporation is considered legally separate from the County. Pursuantto the Corporation’s Bylaws, the Chairman of the Legislature appoints board members of the Board ofDirectors, including four directors who serve ex-officio, they being the Chairman of the Legislature, theCounty Executive, the County Treasurer, and the County Budget Officer, and one independent director.Although legally separate from the County, the Corporation is a component unit of the County andaccordingly, is presented in the County’s financial statements as a blended component unit due to the factthat it exclusively serves the County.

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Complete financial statements of individual component units can be obtained from their respectiveadministrative offices:

Chemung County IndustrialDevelopment Agency, Inc.

Chemung County Soil & WaterConservation District

Chemung Tobacco AssetSecuritization Corp.

400 East Church Street 851 Chemung Street 203 Lake StreetElmira, New York 14901 Horseheads, New York 14845 Elmira, New York 14901

Basis of Presentation

The financial statements of the County have been prepared in conformity with accounting principles generallyaccepted in the United States of America ("GAAP") as applied to government units. The GovernmentalAccounting Standards Board ("GASB") is the accepted standard setting body for establishing governmentalaccounting and financial reporting principles. The County's most significant accounting policies are described inthe following paragraphs.

The County's basic financial statements consist of government-wide financial statements, including the statementof net position and the statement of activities, and fund financial statements which provide a more detailed level ofinformation.

Government-Wide Financial Statements

The government-wide financial statements, which consist of the statement of net position and thestatement of activities, report information on all of the non-fiduciary activities of the primary government.Governmental activities, which are supported primarily through taxes or intergovernmental revenues, arereported separately from business-type activities, which are intended to be funded primarily through feesand charges for goods or services. The fiduciary fund is excluded from the government-wide financialstatements. Internal service activity between the internal service fund and the government has beeneliminated in the government-wide financial statements and the remaining internal service fund amountsare shown as governmental activities on the statement of net position and the statement of activities.

The government-wide statement of activities presents a comparison between expenses, both direct andindirect, and program revenues for each program or function of the County's governmental and business-type activities. Direct expenses are those that are specifically associated with a service, program ordepartment and are therefore clearly identifiable to a particular function. Indirect expenses, which includecentralized services and administrative overhead, are allocated among the programs, functions andsegments using a full cost allocation approach and are combined with direct expense activity.

Program revenues include charges paid by recipients of goods or services offered by the program as wellas grants and contributions that are restricted to meet the operational or capital requirements of theparticular program. Revenues not classified as program revenues are presented as general revenues ofthe County. The comparison of expenses with general program revenues identifies the extent to whicheach governmental program or business-type activity is self-financing or draws from the general revenuesof the County.

Fund Financial Statements

The accounting system is organized and separated on a fund basis. A fund is defined as a fiscalaccounting entity with a self-balancing set of accounts, which are segregated for the purpose of carryingon specific activities of the government and attaining certain objectives in accordance with specialregulations, restrictions or limitations. The emphasis of fund financial statements is on major funds, eachof which are displayed in a separate column. All remaining funds are aggregated and reported as totalnonmajor funds. There are three categories of funds: governmental, proprietary, and fiduciary.

Governmental Funds - Governmental funds are funds through which most governmental functionsare financed. The major governmental funds of the County are the general fund and the capitalprojects fund. The general fund is the principal operating fund and includes all operations notrequired to be recorded in other funds. All major construction projects are recorded in the capitalprojects fund. Nonmajor funds are combined and included in the "total nonmajor funds" column onthe governmental fund financial statements.

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Proprietary Funds - Proprietary funds are used to account for ongoing activities which are similar tothose often found in the private sector. The County has the following major proprietary funds:

Enterprise Funds - Enterprise funds are used to account for the Chemung County NursingFacility, the Elmira-Corning Regional Airport and the Chemung Tobacco Asset SecuritizationCorporation.

Internal Service Funds - Internal service funds are used to account for the self insurance andworkers' compensation funds that record assessments charged and benefits paid toparticipating governments for insurance.

Fiduciary Fund - The fiduciary fund is used to account for the agency fund which includes assetsheld by the County in a trustee capacity or as an agent for individuals, private organizations, andother governments. Agency funds are custodial in nature (assets equal liabilities) and do not involvemeasurement of results of operations.

Agency Funds - Agency funds account for situations where the government's role is purelycustodial. Accordingly, all assets are offset by a liability to the authorized party.

Measurement Focus and Basis of Accounting

Measurement focus refers to what is being measured. Basis of accounting refers to when revenues andexpenses are recognized in the accounts and reported in the financial statements. Basis of accounting relates tothe timing of the measurement made, regardless of the measurement focus applied.

Accrual Basis - The government-wide financial statements are reported using the economic resourcesmeasurement focus and accrual basis of accounting, as are the proprietary fund financial statements. Revenuesare recorded when earned and expenses are recorded when the liability is incurred, regardless of the timing ofthe related cash flows. Grants and similar items are recognized as revenue as soon as all eligibility requirementsimposed by the provider have been met. The economic resources measurement focus means that all of theassets, liabilities and deferred outflows/inflows associated with the operations (whether current or non-current) ofthe County are included in the statement of net position and that the statement of activities presents increases(revenues) and decreases (expenses) in total net position.

Modified Accrual Basis - The governmental fund financial statements are accounted for using the modifiedaccrual basis of accounting and use the current financial resources measurement focus. Under the modifiedaccrual basis, revenues are recognized in the accounting period in which they become measurable and available.Expenditures are recognized in the accounting period in which the fund liability is incurred, if measurable.Measurable means that the amount of the transaction can be determined and available means collectible withinthe current period or soon enough thereafter to finance any of the liabilities of the current period. For the County,available means expected to be received within sixty days of year end. With this measurement focus, onlycurrent assets, current liabilities and deferred outflows/inflows are included on the balance sheet. The statementof revenues, expenditures and changes in fund balances reports on the sources (revenues and other financingsources) and uses (expenditures and other financing uses) of current financial resources.

Property taxes, sales and use taxes, state and federal aid and various grant program revenues associated withthe current fiscal period are all considered to be susceptible to accrual and so have been recognized as revenuesof the current fiscal period. All other revenue items are considered to be measurable and available only whencash is received by the government, subject to the sixty day rule noted above.

A reconciliation accompanies the governmental fund financial statements to reconcile and explain the differencesbetween fund balances, as presented in these statements, and net position, as presented in the governmentalactivities column of the government-wide financial statements.

In accordance with GASB Statement No. 36, Recipient Reporting for Certain Shared Nonexchange Revenues,certain state-levied locally shared taxes and fees including motor vehicle license fees, sales tax and mortgage taxare considered voluntary non-exchange transactions. These types of transactions may be accrued if receipt isexpected within six months.

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Use of Estimates

These financial statements have been prepared in conformity with accounting principles generally accepted in theUnited States of America and, as such, include amounts based on informed estimates and judgments ofmanagement with consideration given to materiality. Actual results may differ from those estimates.

Cash and Cash Equivalents

For purposes of reporting in the statement of net position, the balance sheet, statement of fiduciary net positionand the statement of cash flows, the County includes all cash accounts and highly liquid debt instrumentspurchased with an original maturity of three months or less in cash and cash equivalents. The County investsexcess cash in certificates of deposit with high credit quality financial institutions and, by policy, requires collateralfor investments not covered by federal deposit insurance.

Investment Policy

The County has a written investment policy approved by the County Legislature. This policy has beenestablished in accordance with New York State municipal law. Accordingly, funds must be deposited in FederalDeposit Insurance Company ("FDIC") insured accounts. The policy also requires financial institutions to providesecurities for all deposits in excess of maximum FDIC coverage. The County Treasurer is also authorized toinvest excess funds in instruments permitted under New York State municipal law.

Prepaid Expenditures/Expenses

Certain payments to vendors reflect costs applicable to future accounting periods and are recorded as prepaiditems in both the government-wide and fund financial statements. The cost of prepaid items is recorded as anexpenditure/expense when consumed rather than when purchased.

Inventories

Inventories are stated at cost; principally on the first-in, first-out basis, and consist of materials and supplies usedat the Chemung County Nursing Facility. The County uses the consumption method to relieve inventory.Purchases of inventoriable items at other locations are recorded as expenditures/expenses at the time ofpurchase and year end balance at these locations are not material.

Internal Balances

During the course of its operations, the County has numerous transactions between funds to finance operations,provide services, and construct assets. To the extent that certain transactions between funds has not been paidor received as of December 31, 2019, balances of interfund amounts receivable or payable have been recordedas due from and due to other funds in the fund financial statements. These short term interfund receivables andpayables are classified as current assets and liabilities in the fund financial statements. Such internal balances inthe government-wide financial statements are included only between governmental activities and business-typeactivities and eliminated.

Interfund Transfers

Interfund transfers are reported as other financing sources/uses in governmental funds and as nonoperatingrevenues/expenses in enterprise funds. Such internal transfers in the government-wide financial statements areincluded only between governmental activities and business-type activities and then eliminated for the totalprimary government. Exchange transactions between funds are reported as revenues in the seller funds and asexpenditures/expenses in the purchaser funds. Flows of cash or goods from one fund to another without arequirement for repayment are reported as interfund transfers. Repayments from funds responsible for particularexpenditures/expenses to the funds that initially paid for them are not presented on the financial statements.

Capital Assets

Capital assets are assets which are associated with and generally arise from government activities. Capitalassets result from expenditures in governmental funds. Capital assets are reported as assets in the governmentalactivities column of the government-wide statement of net position but are not reported in the fund financialstatements. Capital assets purchased and used by the enterprise funds are recorded in both the business-typeactivities column in the government-wide statement of net position and in the respective fund financial statements.

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The County has established a capital asset policy which defines capital assets and establishes criteria forcapitalization and depreciation. Capital assets purchased or acquired are recorded at historical cost or estimatedhistorical cost. Donated capital assets and assets received in a service concession arrangement on or prior toJune 15, 2015 are recorded at estimated fair value as of the date donated. Donated capital assets and assetsreceived in a service concession arrangement after June 15, 2015 are recorded at acquisition value. Additions,improvements and other capital outlays that significantly extend the useful life of an asset are capitalized. Othercosts incurred for repairs and maintenance are expensed as incurred. Depreciation on capital assets iscalculated on the straight-line basis over the following estimated useful lives:

Capital Asset ClassCapitalization

Threshold Years

Construction in progress All assets N/ALand All assets N/ALand improvements $5,000 20 - 40Buildings $5,000 10 - 80Building improvements $5,000 10 - 80Infrastructure $5,000 6 - 100Furniture, equipment and vehicles $5,000 5 - 20

Collections of art and historical treasures meet the definition of a capital asset and normally should be reported inthe financial statements. However, the requirement for capitalization is waived for collections that meet certaincriteria. The County has collections of art, historical treasures, and statuary that are not capitalized as they meetall of the waiver requirements which are: (1) the collections are held solely for public exhibition, (2) the collectionsare protected, preserved and cared for, and (3) should any items be sold, the proceeds are used only to acquireother items for the collections. The County's sculptures, paintings, murals, and other works of art are displayedon public property and in buildings throughout the County. The County's historical artifacts are displayed invarious museums and other public buildings throughout the County.

Accounts Payable and Accrued Liabilities

Accounts payable and accrued liabilities are reported on the government-wide financial statements in theirentirety. Business-type activities and proprietary fund accounts payable and accrued liabilities are recognizedwhen incurred and payable. Governmental fund payables and accrued liabilities are recognized as fund liabilitieswhen incurred, if measurable.

Encumbrances

Encumbrances are a budgetary basis of accounting. Encumbrance accounting is utilized to the extent necessaryto assure effective budgetary control and accountability and to facilitate effective cash planning and control.Encumbrance accounting involves purchase orders, contracts and other commitments for expenditures of fundsand are recorded in order to reserve that portion of the applicable appropriation. Encumbrances do not constituteexpenditures or liabilities. The County did not have any encumbrances at year end.

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Long-Term Obligations

In the government-wide financial statements and proprietary fund financial statements, long-term debt and otherlong-term obligations are reported as liabilities in the applicable governmental activities or business-type activitiescolumns in the statement of net position. Long-term debt is recorded net of applicable premiums and discounts,which are amortized, as a component of interest expense, over the life of the debt using the straight-line interestrate method. Advanced refunding proceeds resulting from the refunding of long-term debt are recorded as adeferred outflow of resources and amortized, as a component of interest expense, over the shorter of the life ofthe new debt or life of the refunded debt. The costs of issuing debt, excluding insurance, are expensed in thegovernment-wide statement of activities and in the fund financial statements. The face amount of debt issued isreported as an other financing source. Premiums and discounts received on debt issuances are reported as otherfinancing sources and uses in the governmental fund financial statements.

Compensated Absences, Vacation and Sick Leave

County employees are entitled to vacation leave, sick leave and other compensated absences with similarcharacteristics according to various employment contracts. Payment of compensated absences is dependentupon many factors; therefore, timing of future payment is not readily determinable. Accordingly, payments arebudgeted annually without accrual and are recorded when paid in the government funds.

County contracts permit employees to accumulate earned but unused vacation leave, which are eligible forpayment upon separation from the County. Year to year vacation leave accumulation varies by contract whilepayment at separation is capped at 40 days. The liability for such leave is reported as incurred in the government-wide and proprietary fund financial statements.

Sick leave is awarded on a monthly basis to those employees on payroll for more than 50% of the month.Employees can accumulate a maximum of 250 sick days from year to year. Upon retirement from the County,employees may elect to have a percentage of their accumulated sick leave balance converted to escrow andused to pay for continued health insurance or be paid as wages. The percentage converted to escrow is based onyears of service and is capped at 200 days. The liability for such leave is calculated using the termination methodand reported as estimated in the government-wide and proprietary fund financial statements and has not beenfunded.

Accounting and Financial Reporting for Pensions

The County complies with GASB Statement No. 68, Accounting and Financial Reporting for Pensions –Amendment to GASB Statement No. 27 and GASB Statement No. 71, Pension Transition for Contributions MadeSubsequent to the Measurement Date. The primary objective of the Statements is to improve accounting andfinancial reporting by state and local governments for pensions. The implementation of the Statements requiresthe County to report as a liability its portion of the collective pension liability in the New York State & LocalRetirement System. The implementation of the Statements also requires the County to report a deferred outflowand/or inflow for the effect of the net change in the County’s proportion of the collective net pension liability andthe difference during the measurement period between the County’s contributions and its proportionate share oftotal contributions to the pension system not included in pension expense, the difference between expected andactual experience, changes in assumptions, and net difference between projected and actual investment earningson pension plan investments. Contributions to the pension systems subsequent to the measurement date areincluded in deferred outflows. See Note 6 for the financial statement impact of these Statements.

Accounting and Financial Reporting for Other Post-Employment Benefits

The County complies with the provisions of GASB Statement No. 75 - "Accounting and Financial Reporting forPostemployment Benefits Other Than Pensions". The primary objective of this Statement is to improveaccounting and financial reporting by state and local governments for postemployment benefits other thanpensions (other postemployment benefits or OPEB). See Note 17 for the financial statement impact of thisStatement.

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Deferred Outflows and Inflows of Resources

In addition to assets, the statement of net position reports a separate section of deferred outflows of resources.This separate financial statement element, deferred outflows of resources, represents a consumption of netposition that applies to a future period and so will not be recognized as an outflow of resources (expense /expenditure) until then. The government has four items that qualify for reporting in this category. The first item isrelated to pensions reported in the government-wide statement of net position. This represents the effect of thenet change in the County's proportion of the collective net pension asset or liability, the difference betweenexpected and actual experience and changes in assumptions. The second represents contributions subsequentto the measurement date. The third represents deferred charges in debt refundings. The fourth represents thechanges in assumptions and other inputs related to the OPEB liability.

In addition to liabilities, the statement of net position reporting a separate section for deferred inflows ofresources. This separate financial statement element, deferred inflows of resources, represents an acquisition ofnet position that applies to a future period and so will not be recognized as an inflow of resources (revenue) untilthat time. The County has three items that qualify for reporting in the category. The first item is related topensions reported in the government-wide statement of net position. This represents the effect of the net changein the County's proportion of the collective net pension liability, difference between expected and actualexperience, and the difference during the measurement periods between the County's contributions and itsproportionate share of total contributions to the pension system not included in pension expense. The secondrepresents future revenues received in advance reporting in the fund financial statements. The third representsthe differences between actual and expected experience and changes of assumptions or other inputs related tothe OPEB liability.

Net Position and Fund Balance

Government-Wide Financial Statements - Sometimes the government will fund outlays for a particularpurpose from both restricted and unrestricted resources. In order to calculate the amounts to report asrestricted net position and unrestricted net position in the government-wide financial statements, a flowassumption must be made about the order in which the resources are considered to be applied. It is thegovernment’s policy to consider restricted net position to have been depleted before unrestricted net positionis applied. Net position on the statement of net position includes the following:

Net Investment in Capital Assets - The component of net position that consists of net capital assetsreduced by outstanding balances of any related debt obligations and deferred inflows of resourcesattributable to the acquisition, construction, or improvement of those assets and increased by balances ofdeferred outflows of resources related to those assets.

Restricted - The components of restricted net position report amounts restricted by external parties. Thecomponents that make up the County's restricted net position include the following:

Restricted FAA Cash - The County, with the approval of the Federal Aviation Administration(FAA), began collecting a passenger facility charge ("PFC") from all passengers departing from theElmira-Corning Regional Airport. These fees may only be used to fund projects approved by theFAA. In addition, any funds derived from the sales of minerals or mineral rights on airport land canonly be used for airport purposes in accordance with FAA regulations. Accordingly, funds receivedfrom PFC collections and from the sale of gravel and natural gas rights have been recorded asrestricted in these financial statements. The amount of FAA cash restricted at year end December31, 2019 amounted to $64,208.

Restricted Soil and Water Grants - The Chemung County Soil and Water Conservation Districtholds cash which is restricted by donors for a particular purpose. The restricted soil and watergrants at December 31, 2019 amounted to $253,304.

Restricted for Tobacco Reserves - The Chemung Tobacco Asset Securitization Corporation isrequired to place a portion of the bond proceeds in trust as a reserve to partially secure paymentsto the bond holders. The restriction will be released as the bonds mature and are paid. TheChemung Tobacco Asset Securitization Corporation holds other amounts which are restricted fortobacco related reserves. The amount of tobacco reserve restricted at year end December 31,2019 amounted to $1,416,252.

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Restricted Industrial Development Agency - The Chemung County Industrial DevelopmentAgency holds cash which is restricted for a particular purpose. The restricted industrialdevelopment agency funds at December 31, 2019 amounted to $200,362.

Unrestricted - The difference between the assets, liabilities and deferred outflows/inflows that is notreported as restricted or net investment in capital assets.

Net Deficits - Net deficits occur when total fund liabilities and deferred inflows exceed total fund assetsand deferred outflows. At December 31, 2019, the County had a net deficit in the capital projects fundand the Chemung Tobacco Asset Securitization Corporation. Reducing these deficits is a priority for theCounty.

Capital Projects Fund - The capital projects fund had a fund deficit of $4,190,275 at December31, 2019. The net deficit resulted from amounts owed by the capital project fund to other funds atyear end due to the status of current projects. It is expected that these amounts will be repaidwithin the next fiscal year as permanent financing sources for projects are secured, thuseliminating the deficit. Specifically, the County expects grant and loan proceeds from the FederalEmergency Management Association (FEMA) and New York State Environmental FacilitiesCorporation (NYSEFC) in 2020 for various sewer and road projects to eliminate the current deficit.

Chemung Tobacco Asset Securitization Corporation - The net deficit of the Chemung TobaccoAsset Securitization Corporation ("TASC") at the end of 2019 was $2,546,532. The ChemungTASC decreased its net deficit in 2019 by $226,588. This deficit results from the use of accrualaccounting for the Chemung TASC. Accrual accounting requires the recording of the full amount ofthe bonds payable at the time the bonds are issued, while the revenue is recognized each year asit becomes available to pay the bonds. It is expected that the deficit will decline as the revenuesrelated to the tobacco settlements are received.

Governmental Fund Financial Statements - In the governmental fund financial statements, the Countyrecords fund balance in accordance with GASB Statement No. 54, Fund Balance Reporting andGovernmental Fund Type Definitions. GASB Statement No. 54 improves the usefulness and clarity of fundbalance categories to make the nature and extent of the constraints placed on a government's fund balancemore transparent. The following classifications describe the relative strength of the spending constraintsplaced on the purposes for which resources can be used:

Nonspendable Fund Balance - amounts that are not in spendable form (such as inventory andprepaids) or are required to be maintained intact.

Restricted Fund Balance - amounts with constraints placed on the use of resources by creditors,grantors, contributors, laws or regulations of other governments.

Committed Fund Balance - amounts constrained to specific purposes by the County itself, by adopting aformal resolution from the County Legislature. To be reported as committed, amounts cannot be used forany other purpose unless the County Legislature adopts a resolution to remove or change the constraint.

Assigned Fund Balance - amounts a government intends to use for a specific purpose. Intent can beexpressed by the County Legislature or by an official or body to which the County Legislature delegatesthe authority. The County Legislature has delegated the authority to assign funds to the CountyTreasurer.

Unassigned Fund Balance - amounts that have not been assigned to another fund or are not restricted,committed, or assigned to specific purposes within the general fund.

For the classification of governmental fund balances, the County considers an expenditure to be made fromthe budgetary appropriations first when more than one classification is available.

Sometimes the government will fund outlays for a particular purpose from both restricted and unrestrictedresources (the total of committed, assigned, and unassigned fund balance). In order to calculate theamounts to report as restricted, committed, assigned, and unassigned fund balance in the governmentalfund financial statements, a flow assumption must be made about the order in which the resources are

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considered to be applied. It is the government’s policy to consider restricted fund balance to have beendepleted before using any of the components of unrestricted fund balance. Further, when the components ofunrestricted fund balance can be used for the same purpose, committed fund balance is depleted first,followed by assigned fund balance. Unassigned fund balance is applied last.

The general fund is the only fund that reports a positive unassigned fund balance amount. In othergovernmental funds it is not appropriate to report a positive unassigned fund balance amount. However, ingovernmental funds other than the general fund, if expenditures incurred for specific purposes exceed theamounts that are restricted, committed, or assigned to those purposes, it may be necessary to report anegative unassigned fund balance in that fund.

The following is a detailed summary of the different classifications of fund balance within the County:

Nonspendable

Nonspendable prepaid expenditures - Represents amounts that are not in a spendable form or arerequired to be maintained intact. These amounted to $1,513,766 for all governmental funds as ofDecember 31, 2019.

Restricted

Restricted unspent bond proceeds - Represents unexpended bond proceeds related to capitalimprovement projects. These amounted to $2,187,869 for all governmental funds as of December 31,2019.

Committed

Committed for DWI funds - Represents unexpended amounts from DWI fines, restricted by the CountyLegislature through formal resolution. This amounted to $266,869 for all governmental funds as ofDecember 31, 2019.

Committed for senior games - Represents amounts restricted by the County Legislature through formalresolution for the annual senior games. This amounted to $21,935 for all governmental funds as ofDecember 31, 2019.

Committed for transit projects - Represents amounts restricted by the County Legislature through formalresolution for transit projects. This amounted to $7,623 for all governmental funds as of December 31,2019.

Assigned

Assigned for solid waste - Represents assigned amounts strictly related to the operation and activities ofthe solid waste fund. This amounted to $183,384 for all governmental funds as of December 31, 2019.

Assigned for sewer - Represents assigned amounts strictly related to the operation and activities of thesewer funds. This amounted to $421,368 for all governmental funds as of December 31, 2019.

Appropriated for subsequent year's budget - Represents assigned amounts strictly related to theoperation and activities of the general fund. This amounted to $293,250 for all governmental funds as ofDecember 31, 2019.

Unassigned

Unassigned fund balance consists of excess funds that have not been classified in the previouscategories. All funds in this category are considered spendable resources. This category also providesthe resources necessary to meet unexpected expenditures and revenue shortfalls. This amounted to$18,820,504 for all governmental funds as of December 31, 2019.

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Operating Revenues and Expenses

Operating revenues are those revenues that are generated directly from the primary activity of the enterprisefunds. Operating expenses are the necessary costs incurred to provide the service that is the primary activity ofthe funds. Revenues and expenses not meeting these definitions are reported as non-operating.

Property Taxes

County property taxes are levied annually as of January 1, payable without penalty until January 31. Taxes forcounty purposes are levied together with taxes for town and special district purposes as a single bill. The townsand special districts receive the full amount of their levies annually out of the first amounts collected on thecombined bills. By law or cooperative agreement, the County assumes enforcement responsibility for all taxeslevied by all municipal jurisdictions within Chemung County, including all schools, towns, villages, and the City ofElmira. The County follows Article 9 and Article 11 of New York State Real Property Tax Law with respect to thecollection of current taxes and the collection and enforcement of delinquent taxes.

Sales and Use Tax

Chemung County and the State of New York each currently impose sales and use tax. The State of New Yorkimposes a sales and use tax of four percent and the County imposes an additional four percent for a total of aneight percent sales and use tax within the County. The County's portion of the sales and use tax is composed ofan original three percent and an additional one percent authorized by State law. The County recognizes as salestax revenue the entire four percent in the general fund. The subsequent sales and use tax distribution paymentsto cities, towns and villages are recognized in the general fund as general governmental expenditures.

Note 2. Deposits and Investments

The County Charter specifies that the County Treasurer is responsible for all deposits and investments inaccordance with general municipal law and the County's investment policy. General Municipal Law, Section 10provides that all deposits of the County including certificates of deposits and special time deposits, in excess ofthe amount insured under the provision of the Federal Deposit Insurance Act shall be secured:

! By a pledge of eligible securities: with an aggregate “market value”, as provided by General Municipal Law,Section 10, equal to the aggregate amount of deposits from the categories designated as acceptableinvestments in the County investment policy.

! By an eligible irrevocable letter of credit issued by a qualified bank other than the bank with the deposits infavor of the County for a term not to exceed 90 days with an aggregate value equal to 140% of theaggregate amount of deposits and the agreed upon interest, if any. A qualified bank is one whosecommercial paper and other unsecured short-term debt obligations are rated in one of the three highestrating categories by at least one nationally recognized statistical rating organization or by a bank that is incompliance with Federal minimum risk-based capital requirements.

! By an eligible surety bond payable to the County for an amount at least equal to 100% of the aggregateamount of deposits and the agreed upon interest, if any, executed by an insurance company authorized todo business in the State of New York, whose claims-paying ability is rated in the highest rating category byat least two nationally recognized statistical rating organizations.

Security on deposits and investments is categorized based on the level of credit risk. The categories of credit riskare defined as follows:

Category 1 - Insured by the Federal Deposit Insurance Corporation ("FDIC") or securities held by the County orby an agent of the County in the County's name.

Category 2 - Securities held by the pledging financial institution's trust department or an agent in the County'sname.

Category 3 - Uncollateralized or collateralized with securities held by the pledging financial institution, or by itstrust department or agent but not in the County's name; or collateralized with no written collateralagreement.

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At year end, the carrying amount of the primary government's and fiduciary fund's deposits was $21,291,498,which excludes discretely presented component units. The following was the total deposit balance at December31, 2019 classified in the applicable risk categories:

Total Category 1 Category 2 Category 3Cash deposits $ 22,911,925 $ 5,992,296 $ 16,919,629 $ -

Note 3. Receivables

Real property taxes receivable at December 31, 2019 amounted to $9,618,911. Included in real property taxesreceivable are returned city, village, and school taxes of $2,820,622 which are offset by liabilities to the cities,villages, and school districts. Tax receivables are offset by unavailable property tax revenues amounting to$5,126,333, as reported in the governmental funds balance sheet, which are not considered to be available ascurrent financial resources at year end. Village and school district taxes not collected by the respective entityhave been or will be re-levied with the County tax levy the following year.

State and federal receivable balances consisted of funds claimed but not received from various state and federalsources. State and federal receivables of the primary government at December 31, 2019 amounted to$19,559,900.

Other receivables reported in the governmental activities column of the government-wide statement of netposition consisted of amounts receivable for PILOT payments, sales tax and services rendered by departmentssuch as solid waste and the sewer districts of $7,814,253 at December 31, 2019.

Note 4. Long-Term Solid Waste Lease Agreement

In September 2005, the County entered into a long-term lease agreement with New England Waste Services ofNew York, Inc. and Casella Waste Systems, Inc. ("Casella"). The agreement stipulates that Casella will run thelandfill and material recycling operations and reimburse the County for personnel and other costs as well as payan annual lease payment. Beginning in 2020, lease payments increased due to an increase in the annualdumping allotment approved by the Department of Environmental Conservation.

Under the terms of the agreement, Casella will be responsible for all closure and post-closure costs. Accordingly,the long-term liability for landfill closure and post-closure has been removed from these financial statements.Casella has issued a performance bond to the County to assure their obligations under the terms of theagreement. Besides other smaller contractual amounts due from Casella annually, minimum lease payments withincreased tonnage are as follows:

2020 $ 1,938,1322021 1,938,1322022 1,938,1322023 1,938,1322024 1,938,132Thereafter 33,828,390

Total $ 43,519,050

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Note 5. Capital Assets

Capital asset activity for the year ended December 31, 2019 was as follows:

Balance12/31/2018 Increases Decreases

Balance12/31/2019

Governmental ActivitiesCapital Assets Not DepreciatedLand $ 11,908,523 $ - $ - $ 11,908,523Construction in progress 8,395,736 9,102,802 (4,180,110) 13,318,428

Total capital assets not depreciated 20,304,259 9,102,802 (4,180,110) 25,226,951

Capital Assets DepreciatedLand improvements 1,741,658 - (492) 1,741,166Buildings and building improvements 62,494,905 1,040,152 (34,998) 63,500,059Infrastructure 128,024,132 11,549,444 - 139,573,576Furniture, equipment and vehicles 43,509,002 2,122,595 (2,085,111) 43,546,486

Total capital assets depreciated 235,769,697 14,712,191 (2,120,601) 248,361,287

Less, Accumulated DepreciationLand improvements 430,298 114,326 - 544,624Buildings and building improvements 27,251,097 1,559,146 (34,026) 28,776,217Infrastructure 70,977,521 4,890,306 - 75,867,827Furniture, equipment and vehicles 30,287,948 2,828,448 (2,052,397) 31,063,999

Total accumulated depreciation 128,946,864 9,392,226 (2,086,423) 136,252,667

Total capital assets depreciated - net 106,822,833 5,319,965 (34,178) 112,108,620

Governmental Activities Capital Assets - Net $127,127,092 $ 14,422,767 $ (4,214,288) $137,335,571

Depreciation expense was charged to governmental functions as follows:

General government support $ 984,046Public safety 1,546,109Health 86,940Transportation 5,339,080Economic assistance 356,483Culture and recreation 298,836Home and community services 780,732

Total governmental activities depreciation expense $ 9,392,226

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Balance12/31/2018 Increases Decreases

Balance12/31/2019

Business-type ActivitiesCapital Assets Not DepreciatedLand $ 4,896,958 $ - $ - $ 4,896,958Construction in progress 558,277 295,260 (558,278) 295,259

Total capital assets not depreciated 5,455,235 295,260 (558,278) 5,192,217

Capital Assets DepreciatedLand improvements 1,441,240 - (3,830) 1,437,410Buildings and building improvements 79,802,536 3,233,629 (463,701) 82,572,464Infrastructure 64,670,998 1,727,636 - 66,398,634Furniture, equipment and vehicles 9,443,022 220,352 (38,133) 9,625,241

Total capital assets depreciated 155,357,796 5,181,617 (505,664) 160,033,749

Less, Accumulated DepreciationLand improvements 1,170,875 35,728 (3,828) 1,202,775Buildings and building improvements 13,892,951 2,065,115 (453,258) 15,504,808Infrastructure 30,890,844 3,058,900 - 33,949,744Furniture, equipment and vehicles 5,309,008 657,159 (38,133) 5,928,034

Total accumulated depreciation 51,263,678 5,816,902 (495,219) 56,585,361

Total capital assets depreciated - net 104,094,118 (635,285) (10,445) 103,448,388

Business-type Activities Capital Assets - Net $109,549,353 $ (340,025) $ (568,723) $108,640,605

Depreciation expense was charged to the business-type activities as follows:

Chemung County Nursing Facility $ 527,192Elmira-Corning Regional Airport 5,289,710 Total business-type activities depreciation expense $ 5,816,902

Note 6. Pension Plan

Plan Description

The employees of the County participate in the New York State and Local Employees’ Retirement System (ERS)which is referred to as the New York State and Local Retirement System (the "System"). This is a cost-sharingmultiple-employer defined benefit retirement system. The net position of the System is held in the New York StateCommon Retirement Fund (the "Fund"), which was established to hold all net assets and record changes infiduciary net position allocated to the System. The Comptroller of the State of New York serves as the trustee ofthe Fund and is the administrative head of the System. The Comptroller is an elected official determined in adirect statewide election and serves a four year term. Thomas P. DiNapoli has served as Comptroller sinceFebruary 7, 2007. In November 2014, he was elected for a new term commencing January 1, 2015. Systembenefits are established under the provisions of the New York State Retirement and Social Security Law (RSSL).Once a public employer elects to participate in the System, the election is irrevocable. The New York StateConstitution provides that pension membership is a contractual relationship and plan benefits cannot bediminished or impaired. Benefits can be changed for future members only by enactment of a State statute. Theemployees of the County also participates in the Public Employees’ Group Life Insurance Plan (GLIP), whichprovides death benefits in the form of life insurance. The System is included in the State’s financial report as apension trust fund. That report may be found at www.osc.state.ny.us/retire/publications/index.php or obtained bywriting to the New York State and Local Retirement System, 110 State Street, Albany, NY 12244.

Benefits Provided

The System provides retirement benefits as well as death and disability benefits.

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Tiers 1 and 2

Eligibility: Tier 1 members, with the exception of those retiring under special retirement plans, must be at leastage 55 to be eligible to collect a retirement benefit. There is no minimum service requirement for Tier 1 members.Tier 2 members, with the exception of those retiring under special retirement plans, must have five years ofservice and be at least age 55 to be eligible to collect a retirement benefit. The age at which full benefits may becollected for Tier 1 is 55, and the full benefit age for Tier 2 is 62.

Benefit Calculation: Generally, the benefit is 1.67 percent of final average salary for each year of service if themember retires with less than 20 years. If the member retires with 20 or more years of service, the benefit is 2percent of final average salary for each year of service. Tier 2 members with five or more years of service canretire as early as age 55 with reduced benefits. Tier 2 members age 55 or older with 30 or more years of servicecan retire with no reduction in benefits. As a result of Article 19 of the RSSL, Tier 1 and Tier 2 members whoworked continuously from April 1, 1999 through October 1, 2000 received an additional month of service credit foreach year of credited service they have at retirement, up to a maximum of 24 additional months.

Final average salary is the average of the wages earned in the three highest consecutive years of employment.For Tier 1 members who joined on or after June 17, 1971, each year used in the final average salary calculationis limited to no more than 20 percent greater than the previous year. For Tier 2 members, each year of finalaverage salary is limited to no more than 20 percent of the average of the previous two years.

Tiers 3, 4, and 5

Eligibility: Tier 3 and 4 members, with the exception of those retiring under special retirement plans, must havefive years of service and be at least age 55 to be eligible to collect a retirement benefit. Tier 5 members, with theexception of those retiring under special retirement plans, must have ten years of service and be at least age 55to be eligible to collect a retirement benefit. The full benefit age for Tiers 3, 4 and 5 is 62.

Benefit Calculation: Generally, the benefit is 1.67 percent of final average salary for each year of service if themember retires with less than 20 years. If a member retires with between 20 and 30 years of service, the benefitis 2 percent of final average salary for each year of service. If a member retires with more than 30 years ofservice, an additional benefit of 1.5 percent of final average salary is applied for each year of service over 30years. Tier 3 and 4 members with five or more years of service and Tier 5 members with ten or more years ofservice can retire as early as age 55 with reduced benefits. Tier 3 and 4 members age 55 or older with 30 ormore years of service can retire with no reduction in benefits.

Final average salary is the average of the wages earned in the three highest consecutive years. For Tier 3, 4 and5 members, each year of final final average salary is limited to no more than 10 percent of the average of theprevious two years.

Tier 6

Eligibility: Tier 6 members, with the exception of those retiring under special retirement plans, must have tenyears of service and be at least age 55 to be eligible to collect a retirement benefit. The full benefit age for Tier 6is 63 for ERS members.

Benefit Calculation: Generally, the benefit is 1.67 percent of final average salary for each year of service if themember retires with less than 20 years. If a member retires with 20 years of service, the benefit is 1.75 percent offinal average salary for each year of service. If a member retires with more than 20 years of service, an additionalbenefit of 2 percent of final average salary is applied for each year of service over 20 years. Tier 6 members withten or more years of service can retire as early as age 55 with reduced benefits.

Final average salary is the average of the wages earned in the five highest consecutive years. For Tier 6members, each year of final average salary is limited to no more than 10 percent of the average of the previousfour years.

Special Plans

The 25-Year Plans allow a retirement after 25 years of service with a benefit of one-half of final average salary.

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Ordinary Disability Benefits

Generally, ordinary disability benefits, usually one-third of salary, are provided to eligible members after ten yearsof service; in some cases, they are provided after five years of service.

Accidental Disability Benefits

For all eligible Tier 1 and Tier 2 ERS members, the accidental disability benefit is a pension of 75 percent of finalaverage salary, with an offset for any Workers’ Compensation benefits received. The benefit for eligible Tier 3, 4,5 and 6 members is the ordinary disability benefit with the years-of-service eligibility requirement dropped.

Ordinary Death Benefits

Death benefits are payable upon the death, before retirement, of a member who meets eligibility requirements asset forth by law. The first $50,000 of an ordinary death benefit is paid in the form of group term life insurance. Thebenefit is generally three times the member’s annual salary. For most members, there is also a reduced post-retirement ordinary death benefit available.

Post-Retirement Benefit Increases

A cost-of-living adjustment is provided annually to: (i) all pensioners who have attained age 62 and have beenretired for five years; (ii) all pensioners who have attained age 55 and have been retired for ten years; (iii) alldisabled pensioners, regardless of age, who have been retired for five years; (iv) ERS recipients of an accidentaldeath benefit, regardless of age, who have been receiving such benefit for five years and (v) the spouse of adeceased retiree receiving a lifetime benefit under an option elected by the retiree at retirement. An eligiblespouse is entitled to one-half the cost-of-living adjustment amount that would have been paid to the retiree whenthe retiree would have met the eligibility criteria. This cost-of-living adjustment is a percentage of the annualretirement benefit of the eligible member as computed on a base benefit amount not to exceed $18,000 of theannual retirement benefit. The cost-of-living percentage shall be 50 percent of the annual Consumer Price Indexas published by the U.S. Bureau of Labor, but cannot be less than 1 percent or exceed 3 percent.

Contributions

The System is noncontributory except for employees who joined the New York State and Local Employees’Retirement System after July 27, 1976, who contribute 3 percent of their salary for the first ten years ofmembership, and employees who joined on or after January 1, 2010 who generally contribute 3 percent of theirsalary for their entire length of service. For Tier 6 members, the contribution rate varies from 3 percent to 6percent depending on salary. Generally, Tier 5 and 6 members are required to contribute for all years of service.Under the authority of the NYSRSSL, the Comptroller annually certifies the actuarially determined rates expresslyused in computing the employers’ contributions based on salaries paid during the Systems’ fiscal year endingMarch 31. Contributions for the current year and two preceding years were equal to 100 percent of thecontributions required, and were as follows:

2019 $ 7,126,5492018 $ 7,121,7552017 $ 7,186,419

Pension Liabilities, Pension Expense, and Deferred Outflows of Resources and Deferred Inflows ofResources Related to Pensions

At December 31, 2019, the County reported a liability of $14,767,308 for its proportionate share of the netpension liability. The net pension liability was measured as of March 31, 2019, and the total pension liability usedto calculate the net pension liability was determined by an actuarial valuation as of April 1, 2018. The County’sproportion of the net pension liability was based on a projection of the County’s long-term share of contributions tothe pension plan relative to the projected contributions of all participating members, actuarially determined.

At December 31, 2019, the County’s proportion was 0.2084216%, which was an increase of 0.0020501 from itsproportion as of December 31, 2018.

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For the year ended December 31, 2019, the County recognized pension expense of $8,668,991. At December31, 2019, the County reported deferred outflows of resources and deferred inflows of resources related topensions from the following sources:

DeferredOutflows ofResources

DeferredInflows ofResources

Differences between expected and actual experience $ 2,907,992 $ 991,302Changes of assumptions 3,711,898 -Net difference between projected and actual investment

earnings on pension plan investments - 3,790,107Changes in proportion and differences between employer

contributions and proportionate share of contributions 352,673 2,082,809County's contributions subsequent to the measurement date 5,336,214 -

Total $12,308,777 $ 6,864,218

County contributions made subsequent to the measurement date which will be recognized as a reduction of thenet pension liability in the year ended December 31, 2020. Other amounts reported as deferred outflows ofresources and deferred inflows of resources related to pensions will be recognized in pension expense as follows:

For the fiscal year ended:

2020 $ 2,294,6872021 $ (3,349,969)2022 $ (635,393)2023 $ 1,799,0202024 $ -Thereafter $ -

Actuarial Assumptions

The total pension liability at March 31, 2019 was determined by using an actuarial valuation as of April 1, 2018,with update procedures used to roll forward the total pension liability to March 31, 2019. The actuarial valuationused the following actuarial assumptions:

Actuarial cost method Entry age normalInflation rate 2.5%Salary scale 4.2%, indexed by serviceCost of living adjustments 1.3%, annuallyDecrements Developed from the Plan's 2015 experience study of the

period April 1, 2010 - March 31, 2015Investment rate of return (includinginflation)

7.0%, compounded annually, net of investment expenses

Annuitant mortality rates are based on April 1, 2010 - March 31, 2015 System experience with adjustments formortality improvements based on the Society of Actuaries' Scale MP-2014. The actuarial assumptions used inthe April 1, 2018 valuation are based on the results of an actuarial experience study for the period April 1, 2010 -March 31, 2015.

The long term expected rate of return on pension plan investments was determined using a building-blockmethod in which best-estimate ranges of expected future real rates of return (expected return, net of investmentexpenses and inflation) are developed for each major asset class. These ranges are combined to produce thelong-term expected rate of return by weighting the expected future real rates of return by the target assetallocation percentage and by adding expected inflation. The target allocation and best estimates of arithmeticreal rates of return for each major asset class are summarized in the following table:

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Asset ClassTarget

Allocation

Long TermExpected RealRate of Return

Domestic equity 36 % 4.55 %International equity 14 6.35Private equity 10 7.50Real estate 10 5.55Absolute return strategies * 2 3.75Opportunistic portfolio 3 5.68Real assets 3 5.29Bonds and mortgages 17 1.31Cash 1 (0.25)Inflation-indexed bonds 4 1.25

100 %

The real rate of return is net of the long-term inflation assumption of 2.50%

* Excludes equity-oriented and long-only funds. For investment management purposes, thesefunds are included in domestic equity and international equity.

Discount Rate

The discount rate used to calculate the total pension liability was 7.0% at December 31, 2019. The projection ofcash flows used to determine the discount rate assumes that contributions from plan members will be made atthe current contribution rates and that contributions from employers will be made at statutorily required rates,actuarially. Based upon the assumptions, the System’s fiduciary net position was projected to be available tomake all projected future benefit payments of current plan members. Therefore the long term expected rate ofreturn on pension plan investments was applied to all periods of projected benefit payments to determine the totalpension liability.

Sensitivity of the Proportionate Share of the Net Pension Liability to Changes to the Discount RateAssumption

The following presents the County's proportionate share of the net pension liability, calculated using the discountrate of 7.0%, as well as what the County's proportionate share of the net pension liability would be if it werecalculated using a discount rate that is 1-percentage point lower (6.0%), or 1-percentage point higher (8.0%) thanthe current rate.

1% Decrease(6.0%)

CurrentAssumption

(7.0%)1% Increase

(8.0%)The County's proportionate share of the net

pension liability (asset) $ 64,565,028 $ 14,767,308 $ (27,066,309)

Pension Plan Fiduciary Net Position

The components of the current-year net pension liability of the plan as of March 31, 2019, were as follows:

Employers' total pension liability $ 189,803,429,000Plan net position (182,718,124,000)Employers' net pension liability $ 7,085,305,000

Ratio of plan net position to the employers' total pension liability %96.30

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Note 7. Deferred Compensation

The County offers its employees a deferred compensation plan (the "Plan") created in accordance with Section457 of the Internal Revenue Code of 1986, as amended. The Plan, available to all full-time and part-time Countyemployees as well as elected officials of the County at their option, permits participants to defer a portion of theirsalary until future years. The deferred compensation is not available to participants until termination, retirement,death, or unforeseeable emergency.

The Small Business Job Protection Act of 1996 was signed into law on August 20, 1996. As a result of thislegislation, all 457 program assets must now be held in a trust, custodial account or annuity contract for theexclusive benefit of plan participants and their beneficiaries. Plan assets are no longer subject to claims of publicentities' creditors during financial crisis.

The County adopted the Model Deferred Compensation Plan for employees of the County on December 14, 1999retroactive to January 1, 1996. To insure compliance with the Small Business Job Protection Act of 1996, theCounty entered into an agreement with PEBSCO and The Hartford to become Trustee and Custodian for theCounty of Chemung Deferred Compensation Plan. In the year ended December 31, 2019, MassMutual (formerlyThe Hartford) was retained as the Plan's Trustee.

During the year ended December 31, 2019, employee contributions to the plan totaled $1,626,606.

Note 8. Risk Retention

The County is exposed to various risks of loss related to torts; theft of, damage to, and destruction of assets;errors and omissions, and injuries to employees and their survivors. The County uses internal service funds toaccount for and finance the risk and costs of workers’ compensation, health insurance and general liability.

For workers compensation and health insurance, assessments and premiums are paid into various funds by planparticipants, participating municipalities, and other funds, and are available to pay claims and administrative costsof the programs. Claim liabilities are reported when it is probable that a loss has occurred and the amount of theloss can be reasonably estimated. Liabilities include amounts for claims that have been incurred but not reported.Claim liabilities are estimated considering recent claim settlement trends and the effects of inflation using thepresent value method. Amounts due within one year related to workers’ compensation and health insuranceclaims are based on management’s review of historical claims and claim runouts.

Due to the uncertain nature and timing of general liability claims, judgments and payments, the portion due andpayable in the next fiscal year is not reasonably determinable. Accordingly, management has elected to recordthe entire amount of general insurance liability as a current liability as of year end. The County holds variousliability policies, therefore the estimated amount of liability related to general liability is limited to various liabilitypolicy deductibles.

Changes in the balances of claims liabilities reported in the internal service fund for the past two fiscal yearsended December 31 are as follows:

Self Insurance FundWorkers' Comp Health Insurance General Liability

Liability - December 31, 2017 $ 2,036,792 $ 1,567,275 $ 985,283Current year claims and changes in estimates 1,667,841 27,427,373 (14,404)Claims payments (1,585,342) (27,635,576) -

Liability - December 31, 2018 2,119,291 1,359,072 970,879Current year claims and changes in estimates 1,167,889 29,810,272 (182,018)Claims payments (1,159,176) (28,404,479) -

Liability - December 31, 2019 $ 2,128,004 $ 2,764,865 $ 788,861

Due within one year $ 143,771 $ 2,764,865 $ 788,861

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Note 9. Commitments and Contingencies

In the normal course of operations the County receives grant funds from various Federal and State agencies.These grant programs are subject to audit by agents of the granting authorities, the purpose of which is to ensurecompliance with conditions precedent to the granting of funds. Any disallowed expenditures resulting from suchaudits could become a liability of the County. While the amount of any expenditures, which may be disallowedcannot be determined at this time, management expects any amounts to be immaterial.

Note 10. Short-Term Debt

Bond Anticipation Notes

Liabilities for bond anticipation notes ("BANS") are generally accounted for in the general fund, capital projectsfund and in the proprietary funds. The notes or renewal thereof may not extend more than two years beyond theoriginal date of issue unless a portion is redeemed within the first two years. Redemptions must then continue ineach subsequent twelve month period until the obligation is completely extinguished.

New York State Law requires that BANS issued for capital purposes be converted to long-term obligations withinfive years from the original issuance date. However, BANS issued for assessable improvement projects may berenewed up to the maximum life of the permanent financing, provided that stipulated annual reductions inprincipal occur.

Short-term debt activity for the year ended December 31, 2019 was as follows:

Balance12/31/2018 Additions Reductions

Balance12/31/2019

Bond anticipation notes payable $ 1,037,457 $ 3,095,157 $ (1,037,457) $ 3,095,157

Short-term debt at December 31, 2019 consisted of the following:

Bond Anticipation Notes, 2019 - The $3,095,157 BAN note was issued on December 19, 2019 and matureson December 18, 2020. The note was for the local cost of the Airport Terminal renovation project and will berepaid with Airport Passenger Facility Charges (PFC’s) to be collected on a per ticket basis as permitted bythe Federal Aviation Administration (FAA).

Note 11. Long-Term Debt

The County finances capital projects under New York State Local Finance Law. The law stipulates borrowingparameters and limitations. Titles 8, 9 and 10 establish the County's borrowing limitation. Under these guidelinescertain debt, such as debt that may be added to a separate ad valorem tax, is excluded in the computation of theCounty's debt limit. The County's constitutional debt limit for 2019, as defined by New York State Local FinanceLaw was $299,643,007 at December 31, 2019. The County's qualified debt for that period is $43,478,069 or 15%of the constitutional debt limit.

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A summary of government-wide long-term debt and the long-term debt activity for the year ended December 31,2019 is detailed in the following schedule:

RestatedBalance

12/31/2018 Additions ReductionsBalance

12/31/2019

AmountsDue WithinOne Year

Governmental ActivitiesGeneral obligation bonds payable $ 41,430,901 $ 5,473,425 $ (4,737,284) $ 42,167,042 $ 5,274,129Premium on bonds payable 1,572,923 45,441 (206,064) 1,412,300 197,446Compensated absences 6,590,215 641,637 (831,158) 6,400,694 605,506Capital lease 935,369 990,689 (526,806) 1,399,252 470,660OPEB liability 36,508,220 - (7,969,793) 28,538,427 -Net pension liability 5,513,583 6,359,333 - 11,872,916 -

$ 92,551,211 $ 13,510,525 $ (14,271,105) $ 91,790,631 $ 6,547,741Business-type ActivitiesGeneral obligation bonds payable - net $ 6,108,770 $ 517,987 $ (898,949) $ 5,727,808 $ 1,002,419Tobacco settlement bonds - net 4,205,000 - (205,000) 4,000,000 1,467,784Premium on bonds payable 290,470 - (41,963) 248,507 7,888Workers' compensation 2,937,042 - (440,985) 2,496,057 -Compensated absences 720,033 654,184 (158,348) 1,215,869 115,021Capital lease 171,803 - (45,507) 126,296 46,473OPEB liability 5,922,989 - (1,140,872) 4,782,117 -Net pension liability 1,146,943 1,747,449 - 2,894,392 -

$ 21,503,050 $ 2,919,620 $ (2,931,624) $ 21,491,046 $ 2,639,585

Current year debt service payments and balances at December 31, 2019 were as follows:

2019 Payments Balance at December 31, 2019

InterestPayments

PrincipalPayments

RefundedAmount Total

GovernmentalActivities

Business-type Activities

Bonds PayableTobacco Settlement Bonds, 2000 - The ChemungTobacco Asset Securitization Corporation (ChemungTASC) issued $8,090,000 in tobacco settlementbonds, dated December 07, 2000. These bonds havestaggered maturities from 2000-2025. Interest ratesrange from 5.00% to 6.625%. The interest rate was6.30% for the current year. Interest payments aremade semi-annually. Principal is paid annually. Thebonds were sold at a discount of $116,695. Thediscount is being amortized over the lives of thebonds. The Chemung TASC bond is not debt of theCounty and the County is not liable thereon, nor shallit be payable out of any funds other than those of theChemung TASC.

$ 272,064 $ 205,000 $ - $ 4,000,000 $ - $ 4,000,000Clear Water State Revolving Fund, 2008 - The Countyissued $892,535 in clear water state revolving fundbonds, dated July 08, 2008. These are interest freebonds that require annual principal payments of$29,751. The bonds mature in July 2038.

- 29,751 - 565,269 565,269 -

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InterestPayments

PrincipalPayments




Public Improvement Refunding Bonds, 2011 - TheCounty issued $5,740,000 in public improvementrefunding bonds, dated August 01, 2011. Thesebonds have staggered maturities from 2011-2021.Interest rates range from 2.00% to 5.00%. Theinterest rate was 4.00% for the current year. Interestpayments are made bi-annually. Principal is paidannually. The bonding covered the refunding of PublicImprovement Bonds, 2001 and 2003, which wereoriginally issued to provide funding for various generalfund, sewer, airport and nursing facility projects aswell as the costs of issuance. Advance refundingproceeds relating to this refunding are recorded onthe statement of net position as of December 31,2019 for $44,619, net of amortization.

65,819 575,000 - 1,210,000 1,064,660 145,340Public Improvement Bonds, 2012 - The County issued$3,159,522 in public improvement bonds, datedOctober 15, 2012. These bonds have staggeredmaturities from 2013-2027. Interest rates range from1.00% to 2.125%. The interest rate was 1.00% for thecurrent year. Interest payments are made bi-annually.Principal is paid annually. The bonding coveredcapital projects and purchases for various generalfund and nursing facility improvements as well as thecosts of issuance.

38,698 205,000 - 1,780,000 1,395,296 384,704Public Improvement Bonds, 2013 - The County issued$5,771,477 in public improvement bonds, datedOctober 15, 2013. These bonds have staggeredmaturities from 2014-2028. Interest rates range from2.00% to 3.625%. The interest rate was 3.00% for thecurrent year. Interest payments are made bi-annually. Principal is paid annually. The bonding coveredcapital projects and purchases for various generalfund and nursing facility improvements as well as thecosts of issuance.

133,012 355,000 - 3,790,000 3,021,688 768,312Public Improvement Refunding Bonds, 2013 - TheCounty issued $6,710,000 in public improvementrefunding bonds, dated June 15, 2013. These bondshave staggered maturities from 2013-2021. Interestrates range from 2.00% to 3.00%. The interest ratewas 3.00% for the current year. Interest paymentsare made bi-annually. Principal is paid annually. Thebonding covered the refunding of Public ImprovementBonds, 2004 and the partial refunding of PublicImprovement Bonds, 2005 and 2006 as well as thecosts of issuance. Advance refunding proceedsrelating to this refunding are recorded on thestatement of net position as of December 31, 2019 for$83,734, net of amortization.

40,313 900,000 - 1,300,000 897,841 402,159Public Improvement Bonds, 2014 - The County issued$4,916,077 in public improvement bonds, datedDecember 18, 2014. These bonds have staggeredmaturities from 2015-2028. Interest rates range from2.00% to 3.00%. The interest rate was 2.00% for thecurrent year. Interest payments are made bi-annually. Principal is paid annually. The bonding coveredcapital projects and purchases for various generalfund improvements as well as the costs of issuance.

88,125 330,000 - 3,340,000 3,340,000 -

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InterestPayments

PrincipalPayments




Public Improvement Bonds, 2015 - The County issued$5,472,945 in public improvement bonds, datedDecember 17, 2015. These bonds have staggeredmaturities from 2016-2027. Interest rates range from2.00% to 2.50%. The interest rate was 2.00% for thecurrent year. Interest payments are made bi-annually. Principal is paid annually. The bonding coveredcapital projects and purchases for various generalfund, airport and nursing facility improvements as wellas the costs of issuance.

89,594 425,000 - 3,830,000 3,015,338 814,662Public Improvement Bonds, 2016 - The County issued$6,301,122 in public improvement bonds, datedDecember 15, 2016. These bonds have staggeredmaturities from 2017-2028. Interest rates range from2.25% to 3.00%. The interest rate was 2.25% for thecurrent year. Interest payments are made bi-annually. Principal is paid annually. The bonding coveredcapital projects and purchases for various generalfund and nursing facility improvements as well as thecosts of issuance.

132,463 470,000 - 4,920,000 4,323,442 596,558Public Improvement Refunding Bonds, 2017 - TheCounty issued $12,665,000 in public improvementrefunding bonds, dated August 15, 2017. Thesebonds have staggered maturities from 2017-2027.Interest rates range from 2.00% to 5.00%. Theinterest rate was 2.00% for the current year. Interestpayments are made bi-annually. Principal is paidannually. The bonding covered the refunding ofPublic Improvement Bonds, 2007, 2008 and 2010 andthe partial refunding of Public Improvement Bonds,2009 and 2011, which were originally issued toprovide funding for various capital projects, generalfund, sewer, airport and nursing facility improvementsas well as the costs of issuance. Advance refundingproceeds relating to this refunding are recorded onthe statement of net position as of December 31,2019 for $323,307, net of amortization.

531,850 1,475,000 - 10,355,000 8,453,594 1,901,406Public Improvement Bonds, 2017 - The County issued$6,215,431 in public improvement bonds, datedDecember 15, 2017. These bonds have staggeredmaturities from 2018-2029. Interest rates range from2.125% to 3.00%. Interest payments are made bi-annually. Principal is paid annually. The bondingcovered capital projects and purchases for variousgeneral fund, sewer and nursing facility improvementsas well as the costs of issuance. 144,313 455,000 - 5,315,000 5,118,320 196,680

Public Improvement Bonds, 2018 - The County issued$5,956,481 in public improvement bonds, datedDecember 20, 2018. These bonds have staggeredmaturities from 2019-2030. Interest rates range from2.00% to 3.00%. Interest payments are made bi-annually. Principal is paid annually. The bondingcovered capital projects and purchases for variousgeneral fund, sewer improvements as well as thecosts of issuance. 167,915 416,481 - 5,540,000 5,540,000 -

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2019 Payments Balance at December 31, 2019Interest

PaymentsPrincipalPayments




Public Improvement Bonds, 2019 - The County issued$5,949,581 in public improvement bonds, datedDecember 19, 2019. These bonds have staggeredmaturities from 2020-2031. Interest rate is 2.00%. Interest payments are made bi-annually. Principal ispaid annually. The bonding covered capital projectsand purchases for various general fund, sewerimprovements, airport projects as well as the costs ofissuance. - - - 5,949,581 5,431,594 517,987

Total bonds payable $ 1,704,166 $ 5,841,232 $ - 51,894,850 42,167,042 9,727,808

Add, unamortized bond premium (discount) 1,660,807 1,412,300 248,507

Less, current portion - net (7,949,666) (5,471,575) (2,478,091)

Total Bonds Payable - Net of Current Portion $ 45,605,991 $ 38,107,767 $ 7,498,224

For the year ended December 31, 2019, the components of interest expense included the following:


Business-typeActivities

PrimaryGovernment

Interest paid $ 1,273,334 $ 459,977 $ 1,733,311Add: Current year accrued interest 217,899 16,370 234,269Add: Amortization of deferred refunding proceeds 81,546 13,751 95,297Less: Prior year accrued interest (202,442) (21,750) (224,192)Less: Amortization of bond premiums (206,063) (23,577) (229,640) Total interest expense $ 1,164,274 $ 444,771 $ 1,609,045

The annual aggregate maturities for bonds payable are as follows:

Total Governmental Activities Business-type ActivitiesPrincipal Interest Principal Interest Principal Interest

2020 $ 7,744,368 $ 1,599,917 $ 5,274,165 $ 1,208,601 $ 2,470,203 $ 391,3162021 6,434,751 1,361,345 5,058,368 1,064,545 1,376,383 296,8002022 5,659,751 1,140,920 4,409,139 908,858 1,250,612 232,0622023 5,889,751 935,167 4,574,972 767,615 1,314,779 167,5522024 5,499,751 733,826 4,244,868 631,166 1,254,883 102,6602024 - 2028 18,683,719 1,555,066 16,720,281 1,416,774 1,963,438 138,2922029 - 2033 1,863,755 51,550 1,766,245 48,616 97,510 2,9342034 - 2038 119,004 - 119,004 - - -

Total $ 51,894,850 $ 7,377,791 $ 42,167,042 $ 6,046,175 $ 9,727,808 $ 1,331,616

Advance Refunding

The County issued $12,665,000 in public improvement bonds with interest rates ranging from 2.0% to 5.0% in 2017. Theproceeds were used to advance refund $14,020,000 of outstanding 2007-2011 public improvement bonds which hadinterest rates ranging from 2.00% to 4.25%. The net proceeds of $14,424,134 (including a $1,881,727 premium and afterpayment of $122,593 in underwriting fees and other issuance costs) were deposited in an irrevocable trust with an escrowagent to provide funds for the future debt service payment on the refunded bonds. As a result, the 2007-2011 publicimprovement bonds are considered defeased and the liability for those bonds has been removed from the statement ofnet position.

The government advance refunded the 2007-2011 public improvement bonds to reduce its total debt service paymentsover ten years by $1,493,544 and to obtain an economic gain (difference between the present values of the debt servicepayments on the old and new debt) of $1,294,949.

Prior Year Defeasance of Debt - In prior years, the government defeased general obligation public improvement bonds byplacing a portion of the proceeds of the new bonds in an irrevocable trust account to provide for all future debt servicepayments on the old bonds. Accordingly, the trust account assets and the liability for the defeased bonds are not includedin the government’s financial statements. At December 31, 2019, $12,765,000 of defeased bonds remain outstanding.

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Capital Lease Obligations

The following is a description of capital lease obligations as of December 31, 2019:

Purpose / Issue Date Due DateInterest

RateBeginningBalance Additions Reductions

EndingBalance

Governmental ActivitiesServer & Storage / June 2015 09/01/2019 2.75% $ 96,299 $ - $ (96,299) $ -Vehicles / June 2015 06/01/2020 1.50% 89,696 - (59,573) 30,123Vehicles / July 2015 06/01/2020 1.50% 9,914 - (6,583) 3,331Vehicles / August 2015 08/01/2020 1.50% 8,280 - (4,941) 3,339Vehicles / December 2015 08/01/2020 1.50% 7,399 - (3,672) 3,727Vehicles / January 2016 01/21/2021 1.50% 52,642 - (25,063) 27,579Vehicles / January 2016 01/28/2021 1.50% 15,830 - (7,537) 8,293Vehicles / February 2016 02/04/2021 1.50% 31,901 - (14,595) 17,306Vehicles / February 2016 10/03/2020 1.50% 34,680 - (15,867) 18,813Vehicles / March 2016 03/28/2021 1.50% 73,849 - (32,515) 41,334Vehicles / April 2016 04/25/2021 1.50% 20,092 - (20,092) -Vehicles / May 2016 05/13/2021 1.50% 41,138 - (16,842) 24,296Vehicles / May 2016 05/30/2021 1.50% 74,626 - (30,553) 44,073Vehicles / December 2016 12/02/2021 1.50% 16,498 - (5,416) 11,082Vehicles / January 2017 01/19/2022 1.50% 19,523 - (6,233) 13,290Vehicles / February 2017 02/01/2022 1.50% 24,979 - (7,760) 17,219Vehicles / February 2017 02/15/2022 1.50% 24,971 - (7,758) 17,213Vehicles / December 2017 12/16/2022 1.50% 15,533 - (3,796) 11,737Vehicles / December 2017 12/19/2022 1.50% 20,317 - (4,965) 15,352Vehicles / December 2018 04/30/2023 2.75% 257,202 - (61,175) 196,027Vehicles / January 2019 01/06/2024 2.75% - 38,827 (6,725) 32,102Vehicles / January 2019 01/21/2024 2.75% - 27,190 (4,709) 22,481Vehicles / January 2019 01/28/2024 2.75% - 17,522 (3,846) 13,676Vehicles / February 2019 02/06/2024 2.75% - 44,735 (7,035) 37,700Vehicles / February 2019 02/20/2024 2.75% - 39,782 (6,256) 33,526CISCO VOIP Server / July 2019 07/29/2023 3.55% - 822,633 (67,000) 755,633

Total governmental activities $ 935,369 $ 990,689 $ (526,806) $ 1,399,252

Business-type ActivitiesVehicles / December 2016 12/06/2021 1.50% $ 26,263 $ - $ (8,624) $ 17,639Vehicles / January 2017 01/16/2022 1.50% 16,495 - (5,266) 11,229Vehicles / February 2017 02/01/2022 1.50% 31,493 - (9,784) 21,709Vehicles 2018 12/31/2018 1.50% 97,552 - (21,833) 75,719

Total business-type activities $ 171,803 $ - $ (45,507) $ 126,296

Total Primary Government $ 1,107,172 $ 990,689 $ (572,313) $ 1,525,548

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Annual minimum lease payments are as follows:



PrimaryGovernment

2020 $ 493,943 $ 48,868 $ 542,8112021 343,048 48,868 391,9162022 272,459 26,397 298,8562023 208,255 6,536 214,7912024 168,693 - 168,693 Total 1,486,398 130,669 1,617,067Less, interest (87,146) (4,373) (91,519) Total 1,399,252 126,296 1,525,548Less, current portion (470,660) (46,473) (517,133) Net of current portion $ 928,592 $ 79,823 $ 1,008,415

Equipment held under capital leases is as follows at December 31, 2019:



PrimaryGovernment

Furniture, equipment, and vehicles $ 4,714,224 $ 226,191 $ 4,940,415Less - accumulated depreciation (3,138,605) (86,686) (3,225,291) Furniture, equipment, and vehicles - net $ 1,575,619 $ 139,505 $ 1,715,124

Amortization of furniture, equipment, and vehicles under capital assets is included with depreciation expense.

Note 12. Chemung County Nursing Facility - Enterprise Fund

Accounts Receivable and Charges for Services - Charges for services represent the estimated net realizableamounts from patients, third-party payors, and others for services rendered and are recognized as operatingrevenues as services are performed. Patient accounts receivable are recorded net of contractual allowances.Revenue under third-party payor agreements is subject to audit and retroactive adjustment. Provisions for third-party payor settlements are provided in the period when the settlements are determinable.

Accounts receivable are reduced by an allowance for doubtful accounts. In evaluating the collectability ofaccounts receivable, the Facility analyzes its past history and identifies trends for each of its major payor sourcesof revenue to estimate the appropriate allowance for doubtful accounts and provision for bad debts. Managementregularly reviews data about these major payor sources of revenue in evaluating the sufficiency of the allowancefor doubtful accounts. For receivables associated with services provided to patients who have third-partycoverage, the Facility analyzes contractually due amounts and provides an allowance for doubtful accounts and aprovision for bad debts, if necessary. For receivables associated with private-pay patients (which includespatients without insurance, patients with deductible and copayment balances due for which third-party coverageexists for part of the bill, and patients awaiting Medicaid approval), the Facility records a significant provision forbad debts in the period of service on the basis of its past experience. Balances that are still outstanding aftermanagement has used reasonable collection efforts are written off through a charge to the valuation allowanceand a credit to the applicable accounts receivable. The allowance for doubtful accounts at December 31, 2019was $1,650,222. The Facility's allowance for doubtful accounts increase of $54,811 is the result of specificreserves for private-pay patients. The Facility does not maintain a material allowance for doubtful accounts fromthird-party payors, nor did it have significant write-offs from third-party payors.

Revenue from Medicaid and Medicare accounted for approximately 71% of the Facility's total revenue, excludinginter-governmental transfers, for the year ended December 31, 2019. Laws and regulations governing Medicaidand Medicare are extremely complex and subject to interpretation. As a result, there is at least a reasonablepossibility that recorded estimates will change by a material amount in the near term.

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Third-Party Reimbursement - The Medicaid program provides for reimbursement to nursing homes on aprospective basis with no provision for retroactive adjustments other than those resulting from audit by the third-party agency, which involve either errors in the original cost reports used by such agencies to develop theprospective rates or changes in regulations promulgated by the Courts. New York State rebasing legislation wasenacted in 2006 and authorized an update of the Medicaid rates from a cost base year of 1983 to a 2002 costbase. On December 3, 2015, the Universal Settlement of Nursing Home Rate Appeals and Litigation ("UniversalSettlement") agreement was signed. The Universal Settlement between residential health care facilities and NewYork State settles nearly all Medicaid rate appeals and lawsuits. Under the broad parameters of the agreementNew York State would make payments to the Facility totaling approximately $1,124,000 over a five-year period inexchange for universal agreement among nursing homes to surrender its rights to pursue most pending Medicaidrate lawsuits and appeals and certain future rights to challenge Medicaid reimbursement. Approximately$225,000 was paid in 2019. At December 31, 2019, all payments have been received.

Under the Medicare program, nursing homes are reimbursed for defined costs of services rendered to patients.During the year, the Medicare intermediary makes interim payments which are tentatively adjusted upon filingvarious cost reports and are subject to final adjustment upon audit.

Adjustments resulting from third party audits are generally made by withholding amounts from current remittancesor adjusting future reimbursement rates.

Prior year adjustments and settlements

Medicaid retroactive adjustments amounting to approximately $155,000 were recorded as increases in operatingrevenues for the year ended December 31, 2019.

Reimbursement rate audit

The effect of the above-mentioned rate adjustments and audits on rate years subsequent to those mentioned isnot presently determinable and, accordingly, has not been reflected in the accompanying financial statements.

Due to third party payors are generally payable as a 15% maximum withholding from current Medicaidremittances. The amount payable to New York State Department of Health for Medicaid rate and otheradjustments amounted to $102,330 at December 31, 2019.

Inter-Governmental Transfer (IGT)

The New York State Public Health Law has provided for payments to non-state operated public residentialhealthcare facilities, such as the Chemung County Nursing Facility, based on Medicaid days. This funding, whichis an "Inter-Governmental Transfer (IGT)", has historically been received through the County. IGT revenues of$5,115,592 were recorded by the Facility in 2019, which represented payments from the New York State2019/2020 fiscal year. Of this amount, $3,000,000 is included in other receivables at December 31, 2019, with arelated accrual of 50% ($1,500,000) reported in the general fund.

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Note 13. Internal Balances

The County reports internal balances between many of its funds. These are short term receivables and payablesbetween funds to finance operations, provide services, and construct assets. The sum of all balances for theyear ended December 31, 2019 are as follows:

Due From Due ToGovernmental ActivitiesGeneral fund $ 10,480,086 $ 12,637,756Capital projects fund 1,721,704 6,578,054Nonmajor governmental funds

County road fund 394,188 -Road machinery fund 239,771 -Sewer funds 263,294 370,583Solid waste fund - 110,291Total governmental activities 13,099,043 19,696,684

Business-type ActivitiesChemung County Nursing Facility 5,798,197 22,160Elmira-Corning Regional Airport - 5,066,061

Total business-type activities 5,798,197 5,088,221

Internal Service Funds 5,980,619 -

Agency Fund - 92,954

Total Internal Balances $ 24,877,859 $ 24,877,859

Internal balances are used to:(1) move revenues from the fund that statute or budget requires to collect them to the fund that statute or

budget requires to expend them,(2) move expenditures from chargeable funds to a single fund for disbursement, and(3) compensate for the time lag between the dates interfund goods and services are provided or

reimbursable and the payments are actually made between the funds.

Note 14. Interfund Transfers

The County reports interfund transfers between many of its funds. The sum of all transfers presented in the tablebelow agrees with the sum of interfund transfers presented in the statement of revenues, expenditures andchanges in fund balances for governmental funds and the statement of revenues, expenses and changes in fundnet position for proprietary funds.

Transfers In Transfers OutGovernmental ActivitiesGeneral fund $ 273,391 $ 7,655,133Capital projects fund 1,107,551 273,391Nonmajor governmental funds

County road fund 7,213,029 900,000Total governmental activities 8,593,971 8,828,524

Business-type ActivitiesElmira-Corning Regional Airport 234,553 -

Total Interfund Transfers $ 8,828,524 $ 8,828,524

Interfund transfers are used to:(1) move revenues from the fund that statute or budget requires to collect them to the fund that statute or

budget requires to expend them, and(2) fund capital projects from operating funds.

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Note 15. Joint Ventures

The following are activities undertaken jointly with other municipalities and are excluded from the financialstatements:

Southern Tier Central Regional Planning and Development Board - The Counties of Chemung,Steuben, and Schuyler are participants in the joint Southern Tier Central Regional Planning andDevelopment Board. The municipal agreement provides that the participants' share of the cost shall beprorated as agreed upon by the member Counties. In 2019, the County contributed $85,650. As ofDecember 31, 2019, there was no outstanding indebtedness. Audited financial statements may beobtained from the Administrative Offices of the Southern Tier Central Regional Planning andDevelopment Board located at 8 Denison Parkway East, Corning, New York 14830.

Corning Community College - Corning Community College is operated jointly by the Counties ofChemung, Steuben and Schuyler. The County of Chemung included approximately $3.5 million in its2019 real property tax levy to help finance the College's expenditures. In 2019, the County expended$3,349,714 in residential tuition, which was based on capital and operating costs.

The following is a summary of audited financial information included in the financial statements issued forthe college for the year ended August 31, 2019:

All FundsTotal assets and deferred outflows of resources $ 63,243,964Total liabilities and deferred inflows of resources $ 26,257,366Net position $ 36,986,598Total revenues $ 31,298,722Total expenses $ 35,476,274

Separate financial statements may be obtained by contacting the administrative office of CorningCommunity College, 1 Academic Drive, Corning, New York 14830-3297.

Note 16. Chemung Tobacco Asset Securitization Corporation

In January 1997, the State of New York filed a lawsuit against the tobacco industry, seeking to recover the coststhat the State and local governments had incurred in treating smoking related illnesses. Chemung Tobacco AssetSecuritization Corporation (the "Corporation") was established to acquire from Chemung County all or a portion ofthe rights, title and interest under the Master Settlement Agreement (the "MSA") and the Consent Decree andFinal Judgment (the "Decree") as described herein.

The MSA includes New York and 45 other states, the District of Columbia, the Commonwealth of Puerto Rico,Guam, the U.S. Virgin Islands, American Samoa and the Territory of the Northern Marianas, and four of thelargest United States tobacco product manufacturers: Philip Morris Incorporated, R.J. Reynolds TobaccoCompany, Brown and Williamson Tobacco Company (B&W), and Lorillard Tobacco Company (collectively, the"Original Participating Manufacturers" or "OPMs"). On January 5, 2004, Reynolds American Inc. wasincorporated as a holding company to facilitate the combination of the U.S. assets, liabilities, and operations ofB&W with those of Reynolds Tobacco. The agreement was entered into in settlement of certain smoking-relatedlitigation and the Decree entered in New York Supreme Court, including the County's right to receive certain initialand annual payments to be made by the OPMs under the MSA.

The Corporation was formed to raise funds by issuing bonds, use those funds to acquire the rights to futureproceeds from a settlement agreement with various tobacco companies payable to the County, and remain inexistence during the term of the bonds to collect the tobacco settlement proceeds and service the debt.

The Corporation is dependent on future proceeds from the settlement agreement. Proceeds received in excess ofthe Corporation's operational expenses, debt service and required reserves are transferred to the County, as thebeneficial owner of the residual certificate, subject to restrictions imposed by certain trapping events.

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During 2003, the Corporation adopted its first amendment to the indenture, dated as of December 1, 2000,between the Corporation and Manufacturers and Traders Trust Company (M&T), as Trustee. The amendmenteffectively modifies the indenture to be consistent with the official statement concerning downgrade trappingevents as being immediate, in the year in which the event occurred.

The Corporation is a local development corporation created in October 2000 under Section 1411 of the New YorkState Not-for-Profit Corporation Law. In accordance with Governmental Accounting Standards Board (GASB)Statement No. 39, Determining Whether Certain Organizations are Component Units, and Technical Bulletin2004-1, Tobacco Settlement Recognition and Financial Reporting Entity Issues, the Corporation is required to beincluded in the basic financial statements of Chemung County, New York. Accordingly, the Corporation ispresented as a blended component unit of the County.

Tobacco Settlement Proceeds Receivable - This asset represents estimated annual payments to be receivedfrom the MSA between various tobacco manufacturers and state and local governments. The MSA resolvedcigarette smoking-related litigation between the manufacturers and the states. The right to receive the paymentswas acquired by the Corporation through a purchase from the County. A residual certificate exists thatrepresents the County's entitlement to receive all amounts required to be distributed after payment of debtservice, operating expenses, and certain other costs set forth in the indenture. As of December 31, 2019, thetobacco settlement proceeds receivable amounted to $527,735.

Residual Receivable/Payable to Chemung County - The Corporation receives 100% of the County's tobaccosettlement proceeds, although only 40% are applicable to the Corporation. The residual 60% is refundable to theCounty. As of December 31, 2019, none of the residual assets due to the County were held by the Corporation.

Note 17. Postemployment Healthcare Plan ("OPEB" Liability)

Plan Description and Benefits - The County contributes to the Chemung County Employee Health Care Plan("the Plan"), a cost sharing single-employer defined benefit healthcare plan administered by Excellus Blue Crossand Blue Shield. The Plan provides medical benefits to active and retired employees of the County. Currently,the costs of these benefits are expensed as claims are incurred and are recorded as health insurance expense.The retired employees reimburse the County for a portion of these expenses and the reimbursed amount isallocated against this expense.

Funding Policy - The County and the retiree each pay 50% of the premium cost until the retiree becomes eligiblefor Medicare. When the employee becomes eligible for Medicare, the coverage converts to a Medicare PPO planif the employee continues to live in New York State and remains the same for retirees out of state. The Countypays $108.14 of the Medicare PPO cost and 50% of the non-PPO coverage plus a Medicare off-set. There is nomechanism in place for funding the liability. Authority for establishing the plan provisions belongs to the CountyLegislature.

Employees Covered by Benefit Terms -

Participant Data Retirees and survivors 375Terminated vested employees -Active plan members 919

Total 1,294

Total OPEB Liability - The County's total OPEB liability of $33,320,544 as of December 31, 2019 and wasmeasured as of January 1, 2019 and was determined by an actuarial valuation as of January 1, 2019.

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Actuarial Methods and Assumptions - The method used to calculate the costs of the Plan is known as theEntry Age Normal, Level Percent of Salary. The total OPEB liability in the January 1, 2019 actuarial valuation wasdetermined using the following actuarial assumptions and other inputs, applied to all periods included in themeasurement, unless otherwise specified:

Salary scale increases 3.50%Discount rate 4.10%Inflation 2.20%Healthcare cost trend rate SOA Long-Run Medical Cost Getzen

Trend Model

The SOA Long-Run Medical Cost Trend Model, developed by the Society of Actuaries, and its baseline projectionare based on an econometric analysis of historical U.S. medical expenditures and the judgments of experts in thefield. The long-run baseline projection and input variables have been developed under the guidance of an SOAProject Oversight Group. Trend rates are as follows:

Fiscal YearMedical

Trend Rate Fiscal YearMedical

Trend Rate2020 5.50% 2049-2058 5.23%2021 5.40% 2059-2068 4.99%2022 5.30% 2069-2078 4.64%

2023-2028 5.20% 2079+ 4.13%2029-2048 5.70%

Mortality rates for active employees were based on the RPH-2014 mortality table for employees, sex distinct, withgenerational mortality adjusted to 2006 using scale MP-2014, and projected forward with scale MP-2019.Mortality rates for retired employees were based on the RPH-2014 mortality table for healthy annuitants, sexdistinct, with generational mortality adjusted to 2006 using scale MP-2014, and projected forward with scale MP-2019.

The following table shows the changes to the total OPEB liability:


Business-TypeActivities Total

Total OPEB liability as of January 1, 2019 $ 36,508,220 $ 5,922,989 $ 42,431,209Changes for the year: Service cost 1,536,734 124,815 1,661,549 Interest 1,281,614 201,550 1,483,164 Changes in benefit terms (1,318,288) (205,870) (1,524,158) Differences between expected and actual experience (1,822,208) (305,413) (2,127,621) Changes in assumptions or other inputs (6,017,597) (630,972) (6,648,569) Benefit payments (1,630,048) (324,982) (1,955,030)

Net changes (7,969,793) (1,140,872) (9,110,665)Total OPEB liability as of December 31, 2019 $ 28,538,427 $ 4,782,117 $ 33,320,544

Sensitivity of the total OPEB liability to changes in the discount rate

The following presents the County's OPEB liability calculated using the discount rate of 4.10% per annum (the"current rate"), as well as what the County's OPEB liability would be if it were calculated using a discount rate thatis 1% point lower (3.10%) or 1% point higher (5.10%) than the current rate:

1% Decrease(3.10%)

CurrentAssumption

(4.10%)1% Increase

(5.10%)Total OPEB Liability $ 36,868,087 $ 33,320,544 $ 30,188,454

- 59 -


Sensitivity of the total OPEB liability in the Healthcare Cost Trend Rates

The following presents the County's OPEB liability calculated using the healthcare cost trend rate of 5.50% perannum (the "current rate"), as well as what the County's OPEB liability would be if it were calculated using ahealthcare cost trend rate that is 1% point lower or 1% point higher than the current rate:

1% DecreaseCurrent

Assumption 1% IncreaseTotal OPEB Liability $ 29,375,716 $ 33,320,544 $ 38,092,467

OPEB Expense and Deferred Outflows of Resources and Deferred Inflows of Resources Related to OPEB

For the year ended December 31, 2019, the County recognized OPEB expense of $495,629. At December 31,2019, the County reported deferred outflows of resources and deferred inflows of resources related to OPEB fromthe following sources:

DeferredOutflows ofResources

DeferredInflows ofResources

Differences between actual and expected experience $ - $ 1,796,731Changes of assumptions or other inputs 1,082,201 5,614,577County's contributions subsequent to the measurement

date 1,418,215 -Total $ 2,500,416 $ 7,411,308

Amounts reported as deferred outflows of resources related to OPEB will be recognized in OPEB expense asfollows:

For the fiscal year ended:2020 $(1,124,926)2021 $(1,124,926)2022 $(1,124,926)2023 $(1,124,926)2024 $(1,242,505)Thereafter $ (586,898)

Note 18. Tax Abatements

As of December 31, 2019, tax abatement programs include abatements on property taxes, sales taxes andmortgage recording taxes. The programs have the stated purpose of increasing business activity andemployment in the region and the state, respectively. The County is subject to tax abatements granted by theChemung County Industrial Development Agency (the "Agency"), a component unit of the County.

Property Taxes - All property tax abatements are performed through Payment In Lieu of Tax (PILOT)agreements made by the Agency. The PILOT agreements are made to support manufacturing, retail, utilities,real estate and other purposes. Total taxes abated by the Agency in each of these categories for the fiscal yearended December 31, 2019 are as follows:

Manufacturing $ 283,400Other $ 408,231Real estate $ 62,166Retail $ 7,791Utilities $ 498,595

- 60 -


Note 19. Future Implementations of GASB Pronouncements

The Governmental Accounting Standards Board has issued the following pronouncements which will beimplemented in the years required. The effects of the implementation of these pronouncements are not known atthis time.

Statement No. 83 - Certain Asset Retirement Obligations. Effective for fiscal years beginning after June 15,2019.

Statement No. 84 - Fiduciary Activities. Effective for fiscal years beginning after December 15, 2019.

Statement No. 87 - Leases. Effective for fiscal years beginning after June 15, 2021.

Statement No. 88 - Certain Disclosures Related to Debt, including Direct Borrowing and Direct Placements.Effective for fiscal years beginning after June 15, 2019.

Statement No. 89 - Accounting for Interest Cost Incurred before the End of a Construction Period. Effective forfiscal years beginning after December 15, 2020.

Statement No. 90 - Majority Equity Interests - an amendment of GASB Statements No. 14 and No. 61. Effectivefor fiscal years beginning after December 15, 2019.

Statement No. 91 - Conduit Debt Obligations. Effective for fiscal years beginning after December 15, 2021.

Statement No. 92 - Omnibus 2020. Effective for fiscal years beginning after June 15, 2021.

Statement No. 93 – Replacement of Interbank Offered Rates. Effective for fiscal years beginning June 15, 2021.

Statement No. 94 – Public-Private and Public-Public Partnerships and Availability Payment Arrangements.Effective for fiscal years beginning June 15, 2022.

Statement No. 95 – Postponement of the Effective Dates of Certain Authoritative Guidance. Effectiveimmediately. See Note 21 for further information.

Statement No. 96 – Subscription-Based Information Technology Arrangements. Effective for fiscal yearsbeginning January 1, 2023.

Statement No. 97 – Certain Component Unit Criteria, and Accounting and Financial Reporting for InternalRevenue Code Section 457 Deferred Compensation Plans. Effective for fiscal years beginning after June 15,2021.

Note 20. Restatement of Net Position

As a result of management’s determination of the compensated absences calculation, the County restatedcompensated absences to include the estimated value of future sick leave termination payments previously notreported. The effect of this restatement was to decrease the governmental activities and business-type activitiesnet position for the year ended December 31, 2019 by $3,737,593 and $613,004, respectively.

Net position beginning of year - as restated $ 171,929,420

Correction of an error: compensated absences (4,350,597)

Net position beginning of year - as restated $ 167,578,823

- 61 -


Note 21. Subsequent Events

Management has evaluated subsequent events through the date of the report, which is the date these financialstatements were available to be issued.

The United States is presently in the midst of a national health emergency related to the COVID-19 virus. Theoverall consequences of the COVID-19 on a national, regional and local level are unknown, but has the potentialto result in a significant economic impact. The impact of this situation on the County and its future results andfinancial position is not presently determinable.

GASB has issued Statement No. 95 – "Postponement of the Effective Dates of Certain Authoritative Guidance",effective immediately. This Statement, issued in May 2020, has the primary objective of providing temporaryrelief to governments and other stakeholders in light of the COVID-19 pandemic. That objective is accomplishedby postponing the effective dates of certain provisions in Statements and Implementation Guides that firstbecame effective or are scheduled to become effective for periods beginning after June 15, 2018, and later.Earlier application of the provisions addressed in this Statement is encouraged and is permitted to the extentspecified in each pronouncement as originally issued. Disclosures in Note 19 have been updated accordingly.

The County has elected to defer the implementation of all GASB's in accordance with GASB Statement No. 95.

- 62 -

FINANCIAL SECTIONRequired Supplementary Information

COUNTY OF CHEMUNG - STATE OF NEW YORKBudgetary Comparison Schedule - General Fund

For the Year Ended December 31, 2019

Original AdoptedBudget

Final AmendedBudget

ActualResults

Variance withFinal Budget

RevenuesReal property taxes $ 29,707,164 $ 29,958,101 $ 30,000,636 $ 42,535Real property tax items 3,825,000 4,139,107 4,302,860 163,753Non property tax items 62,824,068 62,995,068 63,493,579 498,511Department income 12,230,308 12,230,308 11,791,559 (438,749)Intergovernmental charges 4,511,258 4,511,258 4,370,358 (140,900)Use of money and property 144,021 224,896 435,288 210,392Licenses and permits 17,500 17,500 25,777 8,277Fines and forfeitures 280,561 280,561 225,386 (55,175)Sale of property and compensation for loss 893,000 893,000 885,963 (7,037)Miscellaneous local sources 4,587,347 4,635,717 4,285,679 (350,038)State aid 25,478,475 27,587,500 23,402,349 (4,185,151)Federal aid 22,677,614 22,874,164 22,416,192 (457,972)

Total revenues 167,176,316 170,347,180 165,635,626 (4,711,554)

ExpendituresExecutive - payroll 61,313 333,425 333,425 -Executive - other 57,616 76,559 140,245 (63,686)Legislature - payroll 427,209 430,804 430,804 -Legislature - other 496,160 502,660 410,408 92,252Courts - payroll - 15,255 16,403 (1,148)Courts - other 443,000 578,106 581,500 (3,394)District attorney - payroll 1,045,100 883,282 883,282 -District attorney - other 482,769 513,370 509,525 3,845Public defender - payroll 1,112,070 1,159,544 1,158,396 1,148Public defender - other 511,469 532,026 613,767 (81,741)Treasurer - payroll 788,038 722,337 722,337 -Treasurer - other 555,239 560,239 565,131 (4,892)Budget - payroll 148,385 122,694 122,694 -Budget - other 72,305 72,305 54,466 17,839Purchasing - payroll 283,027 287,024 284,882 2,142Purchasing - other 227,938 227,938 156,398 71,540Real property tax - payroll 146,965 151,173 151,173 -Real property tax - other 1,893,313 2,207,420 2,235,185 (27,765)Tax advertising 68,000 68,000 65,697 2,303County clerk - payroll 731,228 733,586 731,305 2,281County clerk - other 434,384 434,384 496,680 (62,296)Law department - payroll 132,648 137,026 137,026 -Law department - other 103,558 103,558 102,190 1,368Personnel department - payroll 314,949 342,976 342,976 -Personnel department - other 242,185 246,807 255,963 (9,156)Board of elections - payroll 246,641 263,941 263,941 -Board of elections - other 337,259 354,009 381,579 (27,570)Records and information - payroll 197,718 224,973 224,973 -Records and information - other 132,501 132,501 118,975 13,526Central services - payroll 79,521 64,630 64,630 -Central services - other 24,463 24,463 34,561 (10,098)Building and grounds - payroll 2,079,793 1,833,460 1,833,461 (1)Building and grounds - other 3,041,714 3,023,532 2,303,892 719,640Insurance 313,400 363,436 328,412 35,024Information technology - payroll 722,676 641,347 641,346 1Information technology - other 1,785,443 1,812,755 1,507,327 305,428Municipal association dues 13,000 13,228 13,228 -Tax assessment 36,000 36,000 34,496 1,504Distribution of sales tax 16,487,665 16,487,665 16,696,112 (208,447)Community college chargeback 3,450,000 3,450,000 3,349,714 100,286911 emergency - payroll 1,278,043 1,308,347 1,308,347 -911 emergency - other 1,166,790 1,909,639 1,973,363 (63,724)Law enforcement - payroll 9,182,645 9,523,155 9,523,155 -Law enforcement - other 6,585,171 6,675,609 6,226,327 449,282Probation - payroll 1,879,856 1,846,939 1,846,939 -Probation - other 1,124,980 1,124,980 1,164,818 (39,838)Animal control 49,961 49,961 49,961 -Emergency management - payroll 215,339 215,471 210,989 4,482Emergency management - other 238,073 455,955 297,291 158,664Weights and measures - other 63,740 71,864 64,257 7,607

See accompanying notes to required supplementary information.- 63 -

COUNTY OF CHEMUNG - STATE OF NEW YORKBudgetary Comparison Schedule - General Fund



Final AmendedBudget

ActualResults


Expenditures - ContinuedHealth department - payroll 3,692,557 3,657,694 3,654,083 3,611Health department - other 3,678,056 3,703,056 3,748,134 (45,078)Mental hygiene - payroll 1,134,114 1,092,030 992,741 99,289Mental hygiene - other 6,150,019 6,150,019 5,544,563 605,456Bus operations 2,923,718 4,091,222 3,575,958 515,264Department of social services - payroll 8,643,526 8,698,300 8,360,263 338,037Department of social services - other 57,540,735 57,540,735 54,368,287 3,172,448Promotion of industry 200,000 217,000 201,782 15,218Veterans services - payroll 151,403 156,616 156,616 -Veterans services - other 80,072 80,072 102,070 (21,998)Private social service agencies 3,500 3,500 3,500 -Office for aging - payroll 1,370,555 1,374,919 1,299,993 74,926Office for aging - other 1,562,582 1,562,582 1,501,689 60,893Parks and recreation - payroll 485,593 485,593 366,145 119,448Parks and recreation - other 197,508 197,508 185,702 11,806Youth bureau - payroll 784,285 784,751 751,311 33,440Youth bureau - other 738,108 738,108 676,148 61,960Museums and art gallery 701,000 751,000 641,728 109,272Planning board - payroll 512,768 561,273 503,036 58,237Planning board - other 439,298 440,518 420,296 20,222Joint planning board 130,716 145,650 145,650 -Home and community 57,200 164,822 56,521 108,301Human relations 20,000 20,000 20,000 -Conservation 489,970 501,796 424,216 77,580Watershed protection - payroll 10,000 10,000 10,036 (36)Watershed protection - other 772 772 2,142 (1,370)Flood and erosion control - payroll 25,338 25,338 17,882 7,456Flood and erosion control - other 31,193 35,288 33,121 2,167Employee benefits - payroll 64,254 64,254 66,422 (2,168)Employee benefits - other 708,038 1,404,997 296,174 1,108,823Debt principal 3,983,098 3,983,098 4,394,078 (410,980)Debt interest 1,001,176 1,001,176 1,045,778 (44,602)

Total expenditures 159,022,412 162,994,045 155,530,017 7,464,028

Excess of Revenues Over Expenditures 8,153,904 7,353,135 10,105,609 2,752,474

Other Financing Sources (Uses)Interfund transfers - in 250,000 250,000 273,391 23,391Issuance of debt - - 41,831 41,831Interfund transfers - out (8,778,160) (9,326,376) (7,655,133) 1,671,243Appropriated fund balance 1,515,622 1,786,828 - (1,786,828)

Total other financing sources (uses) (7,012,538) (7,289,548) (7,339,911) (50,363)

Net Change in Fund Balance $ 1,141,366 $ 63,587 2,765,698 $ 2,702,111

Fund Balance - Beginning 24,470,558

Fund Balance - Ending $ 27,236,256


COUNTY OF CHEMUNG - STATE OF NEW YORKSchedule of Changes in the County's Total OPEB Liability and Related Ratios


Total OPEB Liability

2019 2018Service cost $ 1,661,549 $ 1,596,938Interest 1,483,164 1,523,642Changes of benefit terms (1,524,158) 1,562,113Differences between expected and actual experience (2,127,621) -Changes in assumptions or other inputs (6,648,569) -Expected benefit payments (1,955,030) (1,925,089)Net changes in total OPEB liability (9,110,665) 2,757,604Total OPEB liability - beginning 42,431,209 39,673,605Total OPEB liability - ending $ 33,320,544 $ 42,431,209

Covered employee payroll $ 46,628,901 $ 49,673,128Total OPEB liability as a percentage of covered employeepayroll %71.46 %85.42

Note: Information prior to the dates indicated reported in this schedule are unavailable.


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- 67

-

COUNTY OF CHEMUNG - STATE OF NEW YORKNotes to Required Supplementary Information


Note 1. Budgetary Comparison Schedule and Basis of Reporting

New York State Municipal Law requires the County to adopt a balanced budget. Under the County Charter, theCounty Executive is required to submit a budget for all funds to the County Legislature on or before November 10.The County Legislature must then act on the budget and return it to the County Executive for signature byDecember 7. Any changes must be reconciled and a final budget approved on or before December 15. After thebudget is adopted, the County Executive may make transfers between operational accounts within the samedepartment for all appropriations except personnel. Budget modifications between those accounts and betweendepartments require a majority vote of the legislature. The budgetary comparison schedule has been prepared onthe legal level of budgetary control. Therefore, the County's budgetary comparison schedule presentsexpenditures by department, with separate identification of personnel object codes, where applicable. The Countyprepares and reports its budgetary information in accordance with accounting principles generally accepted in theUnited States of America.

The Chemung County Office of Budget and Research assists the County Executive in the preparation of theannual operating budget. In addition, the office monitors the County’s departmental expenses and revenues andassists departments with their financial questions and concerns. The Budget Director also assists with thepreparation of the annual financial report, claims and other financial reports. Additionally, the County BudgetDirector reviews and enforces County policy and procedures and forecasts into the future to estimate the impactof economic events, requirements and trends.

Note 2. Schedule of Changes in the County's Total OPEB Liability and Related Ratios

The information presented in the required supplementary schedules was determined as part of the actuarialvaluations at the dates indicated. Additional information for the other postemployment benefit obligation, latestactuarial valuation and actuarial assumptions and methods can be found in Note 17 to the financial statements.

The Schedule of Changes in the County's Total OPEB Liability and Related Ratios is presented to illustrate therequirements to show information for 10 years. However, until a full 10-year trend is compiled, the County willpresent information for those years for which information is available.

- 68 -

COUNTY OF CHEMUNG - STATE OF NEW YORKNotes to Required Supplementary Information


Note 3. Schedule of County's Proportionate Share of the Net Pension Liability and Schedule of Employer'sContributions

The information presented in these required supplementary schedules was determined as part of the audit of theNew York State and Local Retirement System Plan. Additional information for the pension schedules can befound in the notes to the financial statements.

Methods and assumptions used to determine contribution rates are as follows:

Actuarial cost method Entry age normalInflation rate 2.5%Salary scale 4.2%, indexed by serviceCost of living adjustments 1.3%, annuallyDecrements Developed from the Plan's 2015 experience study of the

period April 1, 2010 - March 31, 2015Investment rate of return (including inflation) 7.0%, compounded annually, net of investment expenses

Annuitant mortality rates are based on April 1, 2010 - March 31, 2015 System experience with adjustments formortality improvements based on the Society of Actuaries' Scale MP-2014. The actuarial assumptions used inthe April 1, 2018 valuation are based on the results of an actuarial experience study for the period April 1, 2010 -March 31, 2015.

Changes in assumptions regarding the inflation rate, salary scale, cost of living adjustments, decrements, anddiscount rate affected the measurement of the total pension liability since the prior measurement date.

The Schedule of County's Proportionate Share of the Net Pension Liability is presented to illustrate therequirements to show information for 10 years. However, until a full 10-year trend is compiled, the County willpresent information for those years for which information is available.

- 69 -

FINANCIAL SECTIONCombining and Individual Fund Information and Other

Supplementary Information

FINANCIAL SECTIONCombining Statements - Nonmajor Governmental Funds

COUNTY OF CHEMUNG - STATE OF NEW YORKCombining Balance Sheet

Nonmajor Governmental FundsDecember 31, 2019

Solid WasteFund

County RoadFund

RoadMachinery

Fund Sewer FundsTotal Nonmajor

FundsASSETS

AssetsCash and cash equivalents $ - $ - $ - $ 3,312 $ 3,312Other receivables - net 333,307 2,911 - 745,925 1,082,143Due from other funds - 394,188 239,771 263,294 897,253State and federal aid receivables - 191 - - 191Prepaid expenditures - 290 - 65,835 66,125

Total Assets $ 333,307 $ 397,580 $ 239,771 $ 1,078,366 $ 2,049,024

LIABILITIES AND FUND BALANCES

LiabilitiesAccounts payable $ 4,522 $ 234,169 $ 223,518 $ 110,545 $ 572,754Accrued liabilities 35,110 161,015 16,253 110,035 322,413Due to other funds 110,291 - - 370,583 480,874Due to other governments - 2,396 - - 2,396

Total liabilities 149,923 397,580 239,771 591,163 1,378,437

Fund BalancesNonspendable - 290 - 65,835 66,125Assigned 183,384 - - 421,368 604,752Unassigned - (290) - - (290)

Total fund balances 183,384 - - 487,203 670,587

Total Liabilities and Fund Balances $ 333,307 $ 397,580 $ 239,771 $ 1,078,366 $ 2,049,024

- 70 -

COUNTY OF CHEMUNG - STATE OF NEW YORKCombining Statement of Revenues, Expenditures and Changes in Fund Balances

Nonmajor Governmental FundsFor the Year Ended December 31, 2019

Solid WasteFund

County RoadFund

Road MachineryFund Sewer Funds

Total NonmajorFunds

RevenuesReal property taxes $ - $ - $ - $ 2,052,053 $ 2,052,053Department income 1,181,954 - - 3,457,498 4,639,452Use of money and property - - 1,341,848 - 1,341,848Licenses and permits - - - 24,100 24,100Sale of property and compensation for loss - 10,972 10,807 - 21,779Miscellaneous local sources - 202,534 13,401 84,750 300,685State aid - 3,489 - - 3,489

Total revenues 1,181,954 216,995 1,366,056 5,618,401 8,383,406

ExpendituresTransportation - 5,135,843 1,064,313 - 6,200,156Home and community services 843,749 - - 3,502,813 4,346,562Employee benefits 381,758 1,394,181 168,954 1,168,874 3,113,767Debt principal - - 129,224 740,788 870,012Debt interest - - 3,565 215,267 218,832

Total expenditures 1,225,507 6,530,024 1,366,056 5,627,742 14,749,329

Deficiency of Revenues Under Expenditures (43,553) (6,313,029) - (9,341) (6,365,923)

Other Financing Sources (Uses)Interfund transfers - in - 7,213,029 - - 7,213,029Interfund transfers - out - (900,000) - - (900,000)

Total other financing sources - 6,313,029 - - 6,313,029

Net Change in Fund Balances (43,553) - - (9,341) (52,894)

Fund Balances - Beginning 226,937 - - 496,544 723,481

Fund Balances - Ending $ 183,384 $ - $ - $ 487,203 $ 670,587

- 71 -

FINANCIAL SECTIONCombining Statements - Internal Service Funds

COUNTY OF CHEMUNG - STATE OF NEW YORKCombining Statement of Net Position

Internal Service FundsDecember 31, 2019

Workers'Compensation

FundSelf Insurance

Fund Total

ASSETS

Current AssetsAccounts receivable - net $ 34 $ 385,884 $ 385,918Due from other funds 2,973,770 3,006,849 5,980,619Prepaid expenses - 461,400 461,400

Total Assets $ 2,973,804 $ 3,854,133 $ 6,827,937

LIABILITIES AND NET POSITION

Current LiabilitiesAccounts payable $ 28,295 $ 72,313 $ 100,608Accrued liabilities - current portion 143,771 3,553,726 3,697,497Unearned revenues - 72,866 72,866

Total current liabilities 172,066 3,698,905 3,870,971

Noncurrent LiabilitiesAccrued liabilities - net of current portion 1,984,233 - 1,984,233

Net PositionUnrestricted 817,505 155,228 972,733

Total Liabilities and Net Position $ 2,973,804 $ 3,854,133 $ 6,827,937

- 72 -

COUNTY OF CHEMUNG - STATE OF NEW YORKCombining Statement of Revenues, Expenses and Changes in Fund Net Position

Internal Service FundsFor the Year Ended December 31, 2019


FundSelf Insurance

Fund TotalOperating RevenuesCharges for services $ 838,255 $ 28,449,252 $ 29,287,507Other revenues 180,367 - 180,367

Total operating revenues 1,018,622 28,449,252 29,467,874

Operating ExpensesEmployee benefits 1,156,814 28,449,252 29,606,066

Change in Net Position (138,192) - (138,192)

Net Position - Beginning 955,697 155,228 1,110,925

Net Position - Ending $ 817,505 $ 155,228 $ 972,733

- 73 -

COUNTY OF CHEMUNG - STATE OF NEW YORKCombining Statement of Cash Flows

Internal Service FundsFor the Year Ended December 31, 2019


FundSelf Insurance

Fund TotalCash Flows from Operating ActivitiesReceipts from services provided $ 839,659 $ 27,180,704 $ 28,020,363Payments to employees for services and benefits (1,020,026) (27,180,704) (28,200,730)Other receipts 180,367 - 180,367

Net cash flows from operating activities - - -

Changes in Cash and Cash Equivalents - - -

Cash and Cash Equivalents - Beginning - - -

Cash and Cash Equivalents - Ending $ - $ - $ -

Reconciliation of Operating Income to Net Cash Flows from OperatingActivitiesOperating loss $ (138,192) $ - $ (138,192)Changes in assets and liabilities

Accounts receivable - net (34) 447 413Due from other funds 1,438 (1,267,667) (1,266,229)Prepaid expenses - - -Unearned revenues - (1,328) (1,328)Accounts payable (2,362) 44,773 42,411Accrued liabilities 139,150 1,223,775 1,362,925

Net Cash Flows from Operating Activities $ - $ - $ -

- 74 -

FINANCIAL SECTIONFiduciary Fund - Statement of Changes in

Assets and Liabilities

COUNTY OF CHEMUNG - STATE OF NEW YORKFiduciary Fund - Statement of Changes in Assets and Liabilities


Balance,January 1, 2019 Increases Decreases

Balance,December 31, 2019

AssetsCash and cash equivalents $ 2,535,626 $ 76,284,436 $ 76,154,218 $ 2,665,844Other receivables - net 279,016 3,972 282,988 -

Total Assets $ 2,814,642 $ 76,288,408 $ 76,437,206 $ 2,665,844

LiabilitiesAccounts payable $ 201,537 $ 4,393,967 $ 4,562,377 $ 33,127Accrued liabilities - 119,058 119,058 -Other liabilities 2,589,408 65,158,742 65,208,387 2,539,763Due to other funds 23,697 61,786,387 61,717,130 92,954

Total Liabilities $ 2,814,642 $ 131,458,154 $ 131,606,952 $ 2,665,844

- 75 -

FINANCIAL SECTIONOther Supplementary Information

COUNTY OF CHEMUNG - STATE OF NEW YORKBudgetary Comparison Schedule - Capital Projects Fund



Final AmendedBudget

ActualResults


RevenuesIntergovernmental charges $ - $ - $ 672,451 $ 672,451Miscellaneous local sources - 111,500 - (111,500)State aid - 7,289,561 3,018,675 (4,270,886)Federal aid - 7,322,384 3,853,427 (3,468,957)

Total revenues - 14,723,445 7,544,553 (7,178,892)

ExpendituresGeneral government support - 1,552,351 1,954,779 (402,428)Transportation - 15,268,571 10,367,327 4,901,244Home and community services - 8,817,803 8,268,867 548,936Debt interest - - 8,725 (8,725)

Total expenditures - 25,638,725 20,599,698 5,039,027

Deficiency of Revenues Under Expenditures - (10,915,280) (13,055,145) (2,139,865)

Other Financing Sources (Uses)Interfund transfers - in - - 1,107,551 1,107,551Issuance of debt - 10,915,280 6,422,283 (4,492,997)Premium on issuance of bonds - - 45,441 45,441Interfund transfers - out - - (273,391) (273,391)

Total other financing sources (uses) - 10,915,280 7,301,884 (3,613,396)

Net Change in Fund Balance $ - $ - (5,753,261) $ (5,753,261)

Fund Balance - Beginning 1,562,986

Fund Balance (Deficit) - Ending $ (4,190,275)

- 76 -

COUNTY OF CHEMUNG - STATE OF NEW YORKBudgetary Comparison Schedule - Solid Waste Fund



Final AmendedBudget

ActualResults


RevenuesDepartment income $ 1,430,641 $ 1,430,641 $ 1,181,954 $ (248,687)

ExpendituresRefuse and garbage - payroll 788,313 788,313 724,846 63,467Refuse and garbage - other 610,508 610,508 500,661 109,847Debt principal 30,000 30,000 - 30,000Debt interest 1,820 1,820 - 1,820

Total expenditures 1,430,641 1,430,641 1,225,507 205,134

Net Change in Fund Balance $ - $ - (43,553) $ (43,553)

Fund Balance - Beginning 226,937

Fund Balance - Ending $ 183,384

- 77 -

COUNTY OF CHEMUNG - STATE OF NEW YORKBudgetary Comparison Schedule - County Road Fund



Final AmendedBudget

ActualResults


RevenuesSale of property and compensation for loss $ 6,500 $ 6,500 $ 10,972 $ 4,472Miscellaneous local sources 1,000 1,000 202,534 201,534State aid - - 3,489 3,489

Total revenues 7,500 7,500 216,995 209,495

ExpendituresTraffic control - payroll 46,163 46,163 - 46,163Traffic control - other 1,060,029 1,047,206 270,911 776,295Street administration - payroll 189,780 189,780 189,785 (5)Street administration - other 40,865 15,159 48,656 (33,497)Engineering - payroll 293,669 228,669 117,559 111,110Engineering - other 31,000 72,153 77,493 (5,340)Street maintenance - payroll 2,482,122 2,482,122 2,490,448 (8,326)Street maintenance - other 1,978,621 2,058,348 2,460,341 (401,993)Snow removal - payroll 250,000 250,000 138,579 111,421Snow removal - other 601,000 754,649 736,252 18,397


Deficiency of Revenues Under Expenditures (6,965,749) (7,136,749) (6,313,029) 823,720

Other Financing Sources (Uses)Interfund transfers - in 7,865,749 8,036,749 7,213,029 (823,720)Interfund transfers - out (900,000) (900,000) (900,000) -

Total other financing sources 6,965,749 7,136,749 6,313,029 (823,720)

Net Change in Fund Balance $ - $ - - $ -

Fund Balance - Beginning -

Fund Balance - Ending $ -

- 78 -

COUNTY OF CHEMUNG - STATE OF NEW YORKBudgetary Comparison Schedule - Road Machinery Fund



Final AmendedBudget

ActualResults


RevenuesUse of money and property $ 1,409,845 $ 1,468,862 $ 1,341,848 $ (127,014)Sale of property and compensation for loss - - 10,807 10,807Miscellaneous local sources - 11,797 13,401 1,604

Total revenues 1,409,845 1,480,659 1,366,056 (114,603)

ExpendituresMachinery - payroll 390,835 386,035 303,716 82,319Machinery - other 1,019,010 1,094,624 929,551 165,073Debt principal - - 129,224 (129,224)Debt interest - - 3,565 (3,565)


Net Change in Fund Balance $ - $ - - $ -

Fund Balance - Beginning -

Fund Balance - Ending $ -

- 79 -

COUNTY OF CHEMUNG - STATE OF NEW YORKBudgetary Comparison Schedule - Sewer Funds



Final AmendedBudget

ActualResults


RevenuesReal property taxes $ 2,051,516 $ 2,051,516 $ 2,052,053 $ 537Department income 3,150,850 3,498,000 3,457,498 (40,502)Licenses and permits 15,000 15,000 24,100 9,100Sale of property and compensation for loss - - - -Miscellaneous local sources 70,000 70,000 84,750 14,750State aid 50,000 50,000 - (50,000)

Total revenues 5,337,366 5,684,516 5,618,401 (66,115)

ExpendituresSewer - payroll 2,322,163 2,309,413 2,211,335 98,078Sewer - other 2,767,660 2,901,773 2,460,352 441,421Debt principal 641,693 573,693 747,514 (173,821)Debt interest 177,272 177,272 208,541 (31,269)


Other Financing Sources (Uses)Interfund transfers - in 571,422 277,635 - (277,635)

Total other financing sources (uses) 571,422 277,635 - (277,635)

Net Change in Fund Balance $ - $ - (9,341) $ (9,341)

Fund Balance - Beginning 496,544

Fund Balance - Ending $ 487,203

- 80 -

STATISTICAL SECTION(Unaudited)

INDIVIDUAL FUND FINANCIAL STATEMENTS AND SCHEDULES – These schedules contain ten years of fundfinancial statements for each of the County's funds.

FINANCIAL TRENDS – These schedules contain trend information to help the reader understand how theCounty’s financial performance and well-being have changed over time.

REVENUE CAPACITY – These schedules contain information to help the reader assess the County’s mostsignificant local revenue sources: property and sales taxes.

DEBT CAPACITY – These schedules present information to help the reader assess the affordability of theCounty’s current levels of outstanding debt and the County’s ability to issue debt in the future.

DEMOGRAPHIC AND ECONOMIC INFORMATION – These schedules offer demographic and economicindicators to help the reader understand the environment within which the County’s financial activities take place.

OPERATING INFORMATION – This schedule contains service and infrastructure data to help the readerunderstand how the information in the County’s financial report relates to the services the County provides andthe activities it performs.

2019

2018

2017

2016

2015

2014

2013

2012

2011

2010

Ass

ets

Cas

h an

d ca

sh e

quiv

alen

ts15

,789

,291

$ 13

,812

,540

$ 14

,419

,226

$ 13

,656

,314

$ 13

,842

,405

$ 16

,478

,978

$ 16

,978

,295

$ 11

,912

,378

$ 13

,534

,806

$ 53

7,16

8$

Taxe

s re

ceiv

able

- ne

t9,

618,

911

9,09

4,55

7

8,

661,

181

8,26

3,33

3

8,

353,

400

8,06

8,92

4

7,

889,

362

7,40

3,87

4

8,

179,

217

8,24

1,11

9

O

ther

rece

ivab

les

- net

6,34

6,19

1

7,

143,

914

7,51

4,53

6

7,

815,

681

9,12

0,57

1

6,

610,

814

5,67

0,03

5

6,

066,

502

7,76

6,96

0

8,

101,

104

Due

from

oth

er fu

nds

10,4

80,0

86

11,8

50,4

08

14,7

28,3

35

7,00

7,53

2

11

,404

,944

6,

174,

971

10,7

57,4

39

11,3

06,6

91

14,1

34,9

41

13,6

64,8

09

Stat

e an

d fe

dera

l aid

rece

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les

14,7

74,1

97

11,8

35,1

40

10,5

81,2

35

10,7

45,4

15

9,97

8,07

4

12

,787

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11

,252

,982

12

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10

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11

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D

ue fr

om o

ther

gov

ernm

ents

334,

863

30

5,50

6

1,51

2,48

2

-

-

-

-

-

-

-

R

estri

cted

cas

h-

-

-

-

-

-

1,

358,

878

1,35

6,16

3

1,

716,

260

-

Prep

aid

expe

nditu

res

1,44

7,64

1

1,

510,

189

2,69

7,77

7

1,

837,

327

1,79

1,00

6

1,

762,

797

1,70

7,97

0

1,

556,

892

1,27

9,47

9

93

3,48

4

Oth

er a

sset

s-

-

-

-

-

-

-

-

8,

650

-

Tota

l Ass

ets

58,7

91,1

80$

55,5

52,2

54$

60,1

14,7

72$

49,3

25,6

02$

54,4

90,4

00$

51,8

83,4

95$

55,6

14,9

61$

52,0

38,1

72$

57,2

34,4

10$

42,5

67,1

76$

Liab

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sAc

coun

ts p

ayab

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370,

951

$

3,93

2,77

5$

5,

526,

522

$

2,79

4,18

0$

2,

480,

521

$

2,64

5,24

1$

2,

540,

686

$

2,61

9,94

4$

4,

151,

342

$

4,74

6,20

7$

Ac

crue

d lia

bilit

ies

3,92

7,81

0

4,

016,

628

2,11

5,25

1

6,

715,

213

2,51

4,29

9

1,

756,

958

4,64

8,38

1

2,

862,

506

1,66

6,52

8

1,

392,

875

Une

arne

d re

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096,

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851,

210

2,

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091

3,23

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0

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253,

178

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12,6

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693

5,72

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447,

575

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2,89

6

11

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Due

to o

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gov

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5,39

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9

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677,

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115

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3

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450

Bond

ant

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atio

n no

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paya

ble

-

-

-

-

-

-

-

-

-

-

Tot

al li

abilit

ies

26,4

28,5

91

26,2

87,1

02

30,5

99,3

40

21,2

48,6

88

21,9

58,5

20

18,7

43,0

10

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Res

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nava

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e pr

oper

ty ta

x re

venu

es5,

126,

333

4,79

4,59

4

4,

792,

341

4,27

0,66

6

4,

554,

602

3,93

8,74

9

4,

090,

278

3,88

8,20

1

4,

522,

279

4,32

2,27

9

Fund

Bal

ance

27,2

36,2

56

24,4

70,5

58

24,7

23,0

91

23,8

06,2

48

27,9

77,2

78

29,2

01,7

36

30,4

72,7

80

31,6

64,7

05

30,3

12,2

75

23,4

67,9

36

Tota

l Lia

bilit

ies,

Def

erre

d In

flow

s of

R

esou

rces

and

Fun

d B

alan

ce

58,7

91,1

80$

55,5

52,2

54$

60,1

14,7

72$

49,3

25,6

02$

54,4

90,4

00$

51,8

83,4

95$

55,6

14,9

61$

52,0

38,1

72$

57,2

34,4

10$

42,5

67,1

76$

CO

UN

TY O

F C

HEM

UN

G -

STA

TE O

F N

EW Y

OR

KC

ompa

rativ

e B

alan

ce S

heet

sG

ener

al F

und

ASS

ETS

LIA

BIL

ITIE

S, D

EFER

RED

INFL

OW

S O

F R

ESO

UR

CES

AN

D F

UN

D B

ALA

NC

E - 81

-

2019

2018

2017

2016

2015

2014

2013

2012

2011

2010

Rev

enue

s an

d O

ther

Fin

anci

ng S

ourc

esR

eal p

rope

rty ta

xes

30,0

00,6

36$

30,5

80,8

60$

29,2

27,8

84$

29,5

32,4

82$

28,0

73,2

04$

28,3

34,9

67$

27,5

61,8

74$

26,7

46,7

75$

26,7

61,9

06$

26,1

61,3

86$

Rea

l pro

perty

tax

item

s4,

302,

860

3,61

6,02

7

4,

209,

960

4,07

8,42

8

4,

232,

096

4,29

1,95

1

4,

750,

099

3,96

6,21

5

3,

727,

593

3,30

6,63

2

Sa

les

and

use

taxe

s62

,477

,971

61

,064

,126

57

,180

,048

55

,296

,035

56

,828

,592

59

,139

,280

57

,066

,649

59

,549

,401

60

,637

,080

57

,851

,622

O

ccup

ancy

taxe

s65

7,80

4

695,

874

68

0,32

9

692,

786

68

7,42

0

716,

183

68

4,73

6

821,

345

85

3,32

2

767,

734

Su

rcha

rge

taxe

s35

7,80

4

265,

758

27

3,18

8

292,

225

29

5,49

8

297,

645

30

4,27

1

307,

970

30

9,91

8

309,

510

D

epar

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t inc

ome

11,7

91,5

59

12,3

59,2

40

12,0

99,2

67

11,0

45,8

24

11,2

99,2

10

11,5

50,0

95

12,6

73,7

58

11,4

64,5

32

15,4

11,1

51

19,3

62,0

61

Inte

rgov

ernm

enta

l cha

rges

4,37

0,35

8

4,

367,

913

4,33

8,66

5

4,

749,

651

4,57

5,94

7

4,

993,

200

5,04

2,48

4

4,

907,

570

5,44

9,36

5

5,

962,

423

Stat

e ai

d23

,402

,349

22

,257

,311

21

,805

,532

23

,092

,127

20

,545

,912

19

,889

,992

20

,484

,203

21

,946

,998

21

,242

,186

22

,180

,916

Fe

dera

l aid

22,4

16,1

92

22,4

55,9

76

22,3

95,3

41

22,9

74,5

27

22,6

69,8

83

22,5

77,0

60

23,0

80,2

53

23,5

02,7

94

24,7

59,8

43

23,2

33,6

25

Oth

er re

venu

es5,

858,

093

5,68

9,19

8

7,

572,

931

9,07

9,87

6

4,

716,

573

4,57

1,37

3

4,

387,

263

5,55

2,96

0

5,

643,

084

5,32

4,11

0

C

apita

l lea

se41

,831

146,

735

30

,966

-

-

-

-

-

-

-

Inte

rfund

tran

sfer

s27

3,39

1

234,

203

87

7,75

0

279,

430

-

-

22

0,23

4

185,

469

33

1,64

5

-

Proc

eeds

of r

efun

ding

-

-

9,29

3,79

4

-

-

-

4,

726,

051

-

4,68

0,88

2

-

T

otal

reve

nues

and

oth

er fi

nanc

ing

sour

ces

165,

950,

848

163,

733,

221

169,

985,

655

161,

113,

391

153,

924,

335

156,

361,

746

160,

981,

875

158,

952,

029

169,

807,

975

164,

460,

019

Expe

nditu

res

and

Oth

er F

inan

cing

Use

sG

ener

al g

over

nmen

t sup

port

15,0

52,2

82

14,9

30,7

74

14,3

77,8

02

14,7

75,7

20

13,2

43,4

28

13,2

53,0

79

12,4

89,3

26

11,5

85,5

36

11,6

11,0

08

11,6

27,5

72

Educ

atio

n3,

349,

714

3,36

4,48

2

3,

506,

228

3,51

9,96

1

3,

703,

302

4,04

1,97

0

4,

304,

887

4,28

4,40

9

4,

661,

422

5,19

2,60

6

Pu

blic

saf

ety

16,6

13,9

34

16,0

99,6

42

15,4

81,7

20

14,7

27,0

35

14,8

96,1

33

13,6

28,3

70

15,0

18,5

21

13,7

66,6

31

12,9

78,1

32

12,6

58,8

95

Hea

lth11

,485

,617

11

,804

,164

11

,455

,667

11

,072

,944

10

,709

,274

10

,321

,536

10

,011

,048

10

,070

,062

10

,407

,140

10

,588

,925

Tr

ansp

orta

tion

3,57

5,95

8

4,

049,

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2012

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Asse

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and

cash

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5,33

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4

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9

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427,

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(DEF

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- 93

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2018

2017

2016

2015

2014

2013

2012

2011

2010

Rev

enue

s C

harg

es fo

r ser

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s17

,753

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$ 17

,445

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$ 17

,185

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$ 17

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6

396,

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731,

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Cha

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1,96

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153,

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Net

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ition

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icit)

- B

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5,

567,

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6,39

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40)

Net

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ition

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icit)

- En

ding

5,

339,

514

$

5,56

7,88

3$

6,

392,

819

$

4,42

7,73

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(4

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(4

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(6

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Fac

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- 94

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2019

2018

2017

2016

2015

2014

2013

2012

2011

2010

Asse

tsC

ash

and

cash

equ

ival

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-

$

-

$

6,52

2,81

9$

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799,

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2,22

7,27

8

17

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8,59

0,58

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1,32

9,04

5

94

7,94

5

36

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2

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136

36

4,16

6

329,

056

37

1,20

3

599,

677

33

5,68

2

283,

082

D

ue fr

om o

ther

fund

s-

-

1,86

8,44

5

-

3,

376,

273

1,30

1,84

5

66

3,35

1

144,

511

-

-

Pr

epai

d ex

pens

es33

,451

37,4

20

37,0

40

-

-

-

-

-

-

-

R

estri

cted

cas

h64

,208

428,

519

306,

551

10

0,47

2

68,0

34

19

6,69

1

51,3

80

23

4,01

2

363,

344

45

5,81

9

Cap

ital a

sset

s - n

et10

3,73

8,02

6

104,

511,

185

61,3

63,4

26

42,8

77,3

67

45,9

18,5

50

45,7

59,6

08

47,7

84,3

08

48,1

99,1

98

43,9

61,6

14

40,8

88,3

69

Tot

al a

sset

s10

7,39

2,00

8

123,

809,

851

79,0

57,7

70

45,1

39,0

28

49,7

27,0

23

48,9

57,3

45

50,2

40,3

87

49,1

77,3

98

44,6

60,6

40

41,6

27,2

70

Def

erre

d O

utflo

ws

of R

esou

rces

Def

erre

d ou

tflow

s of

reso

urce

s - p

ensi

ons

231,

404

46

7,84

5

34

4,12

4

723,

201

16

8,95

7

-

-

-

-

-

Def

erre

d ou

tflow

s of

reso

urce

s - O

PEB

45,6

92

66

,526

-

-

-

-

-

-

-

-

Ad

vanc

e re

fund

ing

proc

eeds

- ne

t51

,703

65,4

62

79,2

20

48

,633

58,3

59

68

,085

88,5

91

24

,307

29,1

30

-

Tota

l def

erre

d ou

tflow

s of

reso

urce

s32

8,79

9

599,

833

423,

344

77

1,83

4

227,

316

68

,085

88,5

91

24

,307

29,1

30

-

Tota

l Ass

ets

and

Def

erre

d O

utflo

ws

of R

esou

rces

107,

720,

807

$12

4,40

9,68

4$

79

,481

,114

$ 45

,910

,862

$ 49

,954

,339

$ 49

,025

,430

$ 50

,328

,978

$ 49

,201

,705

$ 44

,689

,770

$ 41

,627

,270

$

Liab

ilitie

sAc

coun

ts p

ayab

le21

0,80

0$

10,1

17,6

96$

4,

437,

407

$

193,

222

$

20

4,34

7$

216,

179

$

23

8,20

7$

236,

103

$

12

1,05

8$

61,5

18$

Ac

crue

d lia

bilit

ies

319,

135

25

2,87

9

16

1,32

4

218,

992

81

,373

31,4

63

53

,271

86,4

76

34

,652

32,4

09

Ac

crue

d in

tere

st p

ayab

le16

,370

21,7

50

25,7

74

25

,774

29,1

37

31

,948

36,2

97

51

,286

57,0

35

74

,117

Ret

aina

ge p

ayab

le-

-

991,

181

-

-

-

-

-

-

-

D

ue to

oth

er fu

nds

5,06

6,06

1

13

,577

,010

14,2

86,6

51

2,55

7,31

1

3,

658,

052

3,08

9,30

7

2,

171,

196

1,26

9,59

1

-

-

Bo

nd a

ntic

ipat

ion

note

pay

able

3,09

5,15

7

71

5,85

8

1,

628,

572

1,59

0,05

5

1,

938,

436

2,62

9,57

3

3,

446,

994

2,08

4,55

5

-

-

O

ther

long

-term

liab

ilitie

s1,

209,

362

1,40

1,10

7

1,35

6,33

6

1,

206,

722

624,

408

42

6,78

9

371,

053

32

1,53

8

276,

623

25

0,90

9

Bond

s pa

yabl

e2,

509,

420

2,43

3,04

7

2,88

0,95

5

3,

317,

033

3,82

5,44

4

3,

609,

232

4,02

2,75

1

4,

361,

420

4,78

5,51

9

6,

238,

160

Tot

al li

abilit

ies

12,4

26,3

05

28

,519

,347

25,7

68,2

00

9,10

9,10

9

10

,361

,197

10

,034

,491

10

,339

,769

8,

410,

969

5,27

4,88

7

6,

657,

113

Def

erre

d In

flow

s of

Res

ourc

esD

efer

red

inflo

ws

of re

sour

ces

- pen

sion

s27

4,99

4

491,

128

105,

732

12

1,53

6

19,3

37

-

-

-

-

-

Net

Pos

ition

95,0

19,5

08

95

,399

,209

53,6

07,1

82

36,6

80,2

17

39,5

73,8

05

38,9

90,9

39

39,9

89,2

09

40,7

90,7

36

39,4

14,8

83

34,9

70,1

57

Tota

l Lia

bilit

ies,

Def

erre

d In

flow

s of

R

esou

rces

and

Net

Pos

ition

107,

720,

807

$12

4,40

9,68

4$

79

,481

,114

$ 45

,910

,862

$ 49

,954

,339

$ 49

,025

,430

$ 50

,328

,978

$ 49

,201

,705

$ 44

,689

,770

$ 41

,627

,270

$

CO

UN

TY O

F C

HEM

UN

G -

STAT

E O

F N

EW Y

OR

KC

ompa

rativ

e St

atem

ents

of N

et P

ositi

onEl

mira

-Cor

ning

Reg

iona

l Airp

ort -

Ent

erpr

ise

Fund

ASSE

TS A

ND

DEF

ERR

ED O

UTF

LOW

S O

F R

ESO

UR

CES

LIAB

ILIT

IES,

DEF

ERR

ED IN

FLO

WS

OF

RES

OU

RC

ES, A

ND

NET

PO

SITI

ON

- 95

-

2019

2018

2017

2016

2015

2014

2013

2012

2011

2010

Rev

enue

s C

harg

es fo

r ser

vice

s4,

337,

236

$

3,86

1,60

9$

3,

378,

147

$

3,55

2,68

9$

3,

595,

337

$

3,51

3,31

5$

3,

306,

506

$

3,52

6,31

6$

3,

418,

472

$

2,89

4,46

5$

O

ther

reve

nues

151,

588

13

3,28

7

17,2

97

62

,426

28,5

46

70

,881

84,1

90

13

7,67

7

7,43

3

1,

411

Tot

al re

venu

es4,

488,

824

3,99

4,89

6

3,

395,

444

3,61

5,11

5

3,

623,

883

3,58

4,19

6

3,

390,

696

3,66

3,99

3

3,

425,

905

2,89

5,87

6

Expe

nses

Pers

onal

ser

vice

s97

7,53

2

1,09

0,00

8

96

8,53

0

912,

365

94

1,33

5

843,

768

87

6,24

0

830,

115

81

9,14

8

810,

281

Em

ploy

ee b

enef

its65

4,29

9

724,

869

78

1,67

7

662,

753

29

1,19

1

660,

951

46

0,09

7

500,

480

36

3,88

4

362,

020

C

ontra

ctua

l exp

ense

s1,

900,

230

2,02

5,69

0

1,

927,

572

1,47

7,18

3

1,

237,

507

1,19

6,35

2

1,

262,

400

1,16

0,62

1

1,

142,

309

1,06

1,78

1

D

epre

ciat

ion

expe

nse

5,28

9,71

0

4,

556,

777

3,73

5,16

7

3,

489,

097

3,44

7,63

3

3,

244,

079

2,92

8,57

0

2,

768,

020

2,62

4,42

4

2,

469,

308

Tot

al e

xpen

ses

8,82

1,77

1

8,

397,

344

7,41

2,94

6

6,

541,

398

5,91

7,66

6

5,

945,

150

5,52

7,30

7

5,

259,

236

4,94

9,76

5

4,

703,

390

Ope

ratin

g Lo

ss(4

,332

,947

)

(4

,402

,448

)

(4

,017

,502

)

(2

,926

,283

)

(2

,293

,783

)

(2

,360

,954

)

(2

,136

,611

)

(1

,595

,243

)

(1

,523

,860

)

(1

,807

,514

)

Non

-ope

ratin

g re

venu

e (e

xpen

ses)

3,71

8,69

3

45

,682

,368

19

,890

,145

(1

67,2

59)

(1

77,6

59)

(1

51,3

10)

(1

67,1

68)

(1

82,5

29)

(2

60,4

91)

(3

03,1

19)

Inco

me

(Los

s) B

efor

e Tr

ansf

ers

(614

,254

)

41,2

79,9

20

15,8

72,6

43

(3,0

93,5

42)

(2,4

71,4

42)

(2,5

12,2

64)

(2,3

03,7

79)

(1,7

77,7

72)

(1,7

84,3

51)

(2,1

10,6

33)

Inte

rfund

tran

sfer

s - n

et23

4,55

3

512,

107

1,

054,

322

199,

954

3,

054,

308

1,51

3,99

4

1,

502,

252

3,15

3,62

5

6,

229,

077

8,12

3,45

2

Cha

nges

in N

et P

ositi

on(3

79,7

01)

41

,792

,027

16

,926

,965

(2

,893

,588

)

58

2,86

6

(998

,270

)

(801

,527

)

1,37

5,85

3

4,

444,

726

6,01

2,81

9

Net

Pos

ition

- B

egin

ning

95,3

99,2

09

53,6

07,1

82

36,6

80,2

17

39,5

73,8

05

38,9

90,9

39

39,9

89,2

09

40,7

90,7

36

39,4

14,8

83

34,9

70,1

57

28,9

57,3

38

Net

Pos

ition

- En

ding

95,0

19,5

08$

95,3

99,2

09$

53,6

07,1

82$

36,6

80,2

17$

39,5

73,8

05$

38,9

90,9

39$

39,9

89,2

09$

40,7

90,7

36$

39,4

14,8

83$

34,9

70,1

57$

CO

UN

TY O

F C

HEM

UN

G -

STA

TE O

F N

EW Y

OR

KC

ompa

rativ

e St

atem

ents

of R

even

ues,

Exp

ense

s an

d C

hang

es in

Fun

d N

et P

ositi

onEl

mira

-Cor

ning

Reg

iona

l Airp

ort -

Ent

erpr

ise

Fund

- 96

-

2019

2018

2017

2016

2015

2014

2013

2012

2011

2010

Asse

tsC

ash

and

cash

equ

ival

ents

230,

644

$

18

6,03

9$

157,

459

$

11

1,50

4$

177,

468

$

12

8,08

8$

94,9

67$

13

2,82

8$

103,

254

$

80

,991

$

Oth

er re

ceiv

able

s - n

et52

7,73

5

550,

022

56

4,10

0

617,

197

1,

080,

740

620,

777

59

1,01

0

594,

361

58

5,61

1

576,

267

R

estri

cted

cas

h65

7,87

3

656,

228

64

8,26

5

648,

249

64

8,24

9

648,

248

64

8,25

5

648,

254

64

8,25

4

648,

254

Tota

l Ass

ets

1,41

6,25

2$

1,

392,

289

$

1,36

9,82

4$

1,

376,

950

$

1,90

6,45

7$

1,

397,

113

$

1,33

4,23

2$

1,

375,

443

$

1,33

7,11

9$

1,

305,

512

$

Liab

ilitie

sBo

nds

paya

ble

- cur

rent

por

tion

1,46

7,78

4$

1,

180,

000

$

905,

000

$

59

0,00

0$

1,00

5,00

0$

80

5,00

0$

570,

000

$

57

0,00

0$

425,

000

$

27

0,00

0$

Bond

s pa

yabl

e - n

et o

f cur

rent

por

tion

2,49

5,00

0

2,

985,

409

3,47

2,86

6

3,

939,

787

4,30

6,74

1

4,

658,

240

5,13

9,91

0

5,

291,

028

5,58

7,10

9

5,

867,

759

Tot

al li

abilit

ies

3,96

2,78

4

4,

165,

409

4,37

7,86

6

4,

529,

787

5,31

1,74

1

5,

463,

240

5,70

9,91

0

5,

861,

028

6,01

2,10

9

6,

137,

759

Net D

efic

it (2

,546

,532

)

(2

,773

,120

)

(3

,008

,042

)

(3

,152

,837

)

(3

,405

,284

)

(4

,066

,127

)

(4

,375

,678

)

(4

,485

,585

)

(4

,674

,990

)

(4

,832

,247

)

Tota

l Lia

bilit

ies

and

Net D

efic

it1,

416,

252

$

1,39

2,28

9$

1,

369,

824

$

1,37

6,95

0$

1,

906,

457

$

1,39

7,11

3$

1,

334,

232

$

1,37

5,44

3$

1,

337,

119

$

1,30

5,51

2$

CO

UN

TY O

F C

HEM

UN

G -

STA

TE O

F N

EW Y

OR

KCo

mpa

rativ

e St

atem

ents

of N

et P

ositi

onC

hem

ung

Toba

cco

Ass

et S

ecur

itiza

tion

Cor

pora

tion

- Ent

erpr

ise

Fund

ASS

ETS

LIAB

ILIT

IES

AND

NET

DEFI

CIT

- 97

-

2019

2018

2017

2016

2015

2014

2013

2012

2011

2010

Reve

nues

O

ther

reve

nues

500,

208

$

53

7,38

3$

456,

153

$

69

9,50

1$

1,03

5,76

8$

70

2,62

2$

591,

011

$

60

3,86

6$

592,

896

$

73

5,20

7$

Inve

stm

ent i

ncom

e18

,915

14,4

70

6,

263

1,76

7

12

17

93

108

10

5

138

T

otal

reve

nues

519,

123

55

1,85

3

462,

416

70

1,26

8

1,03

5,78

0

70

2,63

9

591,

104

60

3,97

4

593,

001

73

5,34

5

Expe

nses

Con

tract

ual e

xpen

se20

,471

31,3

99

19

,788

120,

789

16

,462

22,3

98

22

,581

21,5

18

33

,660

24,4

33

In

tere

st e

xpen

se27

2,06

4

285,

532

29

7,83

3

328,

032

35

8,47

5

370,

690

38

3,61

6

393,

051

40

2,08

4

414,

080

Tr

appi

ng p

aym

ent t

o C

ount

y-

-

-

-

-

-

75

,000

-

-

378,

249

T

otal

exp

ense

s29

2,53

5

316,

931

31

7,62

1

448,

821

37

4,93

7

393,

088

48

1,19

7

414,

569

43

5,74

4

816,

762

Chan

ges

in N

et P

ositi

on22

6,58

8

234,

922

14

4,79

5

252,

447

66

0,84

3

309,

551

10

9,90

7

189,

405

15

7,25

7

(81,

417)

Net D

efic

it - B

egin

ning

(2,7

73,1

20)

(3,0

08,0

42)

(3,1

52,8

37)

(3,4

05,2

84)

(4,0

66,1

27)

(4,3

75,6

78)

(4,4

85,5

85)

(4,6

74,9

90)

(4,8

32,2

47)

(4,7

50,8

30)

Net

Def

icit

- End

ing

(2,5

46,5

32)

$

(2,7

73,1

20)

$

(3,0

08,0

42)

$

(3,1

52,8

37)

$

(3,4

05,2

84)

$

(4,0

66,1

27)

$

(4,3

75,6

78)

$

(4,4

85,5

85)

$

(4,6

74,9

90)

$

(4,8

32,2

47)

$

CO

UN

TY O

F C

HEM

UN

G -

STA

TE O

F N

EW Y

OR

KC

ompa

rativ

e St

atem

ents

of R

even

ues,

Exp

ense

s an

d C

hang

es in

Fun

d N

et P

ositi

onC

hem

ung

Toba

cco

Ass

et S

ecur

itiza

tion

Cor

pora

tion

- Ent

erpr

ise

Fund

- 98

-

2019

2018

2017

2016

2015

2014

2013

2012

2011

2010

Asse

tsC

ash

and

cash

equ

ival

ents

-$

-$

-$

-$

419

$

16

4$

-$

-$

-$

403

$

Ac

coun

ts re

ceiv

able

- ne

t34

-

26,5

28

83

,596

26,5

00

2,

213,

329

2,19

4,46

0

2,

200,

391

2,19

6,35

1

2,

194,

674

Due

from

oth

er fu

nds

2,97

3,77

0

2,

975,

208

2,74

0,63

3

2,

945,

302

3,23

3,98

1

2,

282,

788

2,27

3,43

3

2,

158,

873

3,81

6,28

9

3,

141,

289

Tota

l Ass

ets

2,97

3,80

4$

2,

975,

208

$

2,76

7,16

1$

3,

028,

898

$

3,26

0,90

0$

4,

496,

281

$

4,46

7,89

3$

4,

359,

264

$

6,01

2,64

0$

5,

336,

366

$

Liab

ilitie

sAc

coun

ts p

ayab

le28

,295

$

30,6

57$

29

,666

$

28,0

03$

66

9$

28,4

85$

-

$

1,

232

$

561

$

1,

137

$

Accr

ued

liabi

litie

s2,

128,

004

1,98

8,85

4

1,

755,

408

2,39

9,14

5

2,

041,

675

2,98

1,21

9

1,

575,

180

1,32

2,19

9

1,

538,

617

2,10

5,85

9

D

ue to

oth

er fu

nds

-

-

-

-

-

-

-

-

1,86

6,78

9

1,

864,

940

Tot

al li

abilit

ies

2,15

6,29

9

2,

019,

511

1,78

5,07

4

2,

427,

148

2,04

2,34

4

3,

009,

704

1,57

5,18

0

1,

323,

431

3,40

5,96

7

3,

971,

936

Net P

ositi

on81

7,50

5

955,

697

98

2,08

7

601,

750

1,

218,

556

1,48

6,57

7

2,

892,

713

3,03

5,83

3

2,

606,

673

1,36

4,43

0

Tota

l Lia

bilit

ies

and

Net P

ositi

on2,

973,

804

$

2,97

5,20

8$

2,

767,

161

$

3,02

8,89

8$

3,

260,

900

$

4,49

6,28

1$

4,

467,

893

$

4,35

9,26

4$

6,

012,

640

$

5,33

6,36

6$

CO

UN

TY O

F C

HEM

UN

G -

STA

TE O

F N

EW Y

OR

KCo

mpa

rativ

e St

atem

ents

of N

et P

ositi

onW

orke

rs' C

ompe

nsat

ion

Fund

- In

tern

al S

ervi

ce F

und

ASS

ETS

LIAB

ILIT

IES

AND

NET

POSI

TIO

N

- 99

-

2019

2018

2017

2016

2015

2014

2013

2012

2011

2010

Rev

enue

s C

harg

es fo

r ser

vice

s83

8,25

5$

1,40

8,72

2$

80

0,98

0$

800,

000

$

2,

000,

000

$

1,62

5,45

6$

1,

549,

792

$

1,57

1,77

1$

1,

900,

233

$

2,02

9,30

7$

O

ther

reve

nues

180,

367

15

1,22

1

193,

511

24

2,15

6

281,

601

32

4,87

7

225,

299

27

8,20

0

387,

422

15

7,63

5

Tot

al re

venu

es1,

018,

622

1,55

9,94

3

99

4,49

1

1,04

2,15

6

2,

281,

601

1,95

0,33

3

1,

775,

091

1,84

9,97

1

2,

287,

655

2,18

6,94

2

Expe

nses

Empl

oyee

ben

efits

1,15

6,81

4

1,

586,

333

614,

154

1,

658,

962

2,54

9,62

2

3,

356,

469

1,91

8,21

1

1,

420,

811

1,04

5,41

2

1,

716,

683

Chan

ges

in N

et P

ositi

on(1

38,1

92)

(2

6,39

0)

380,

337

(6

16,8

06)

(2

68,0

21)

(1

,406

,136

)

(1

43,1

20)

42

9,16

0

1,24

2,24

3

47

0,25

9

Net P

ositi

on -

Begi

nnin

g95

5,69

7

982,

087

60

1,75

0

1,21

8,55

6

1,

486,

577

2,89

2,71

3

3,

035,

833

2,60

6,67

3

1,

364,

430

894,

171

Net P

ositi

on -

Endi

ng81

7,50

5$

955,

697

$

98

2,08

7$

601,

750

$

1,

218,

556

$

1,48

6,57

7$

2,

892,

713

$

3,03

5,83

3$

2,

606,

673

$

1,36

4,43

0$

CO

UN

TY O

F C

HEM

UN

G -

STA

TE O

F N

EW Y

OR

KC

ompa

rativ

e St

atem

ents

of R

even

ues,

Exp

ense

s an

d C

hang

es in

Fun

d N

et P

ositi

onW

orke

rs' C

ompe

nsat

ion

Fund

- In

tern

al S

ervi

ce F

und

- 100

-

2019

2018

2017

2016

2015

2014

2013

2012

2011

2010

Asse

tsC

ash

and

cash

equ

ival

ents

-$

-$

-$

-$

-$

-$

-$

-$

-$

17,7

22$

Ac

coun

ts re

ceiv

able

- ne

t38

5,88

4

386,

331

37

9,44

2

1,04

4,25

2

21

5,03

7

5,73

5

39

5,64

7

188,

296

26

2,15

4

33,9

72

D

ue fr

om o

ther

fund

s3,

006,

849

1,73

9,18

2

1,

633,

959

1,23

3,76

0

1,

355,

797

1,61

3,52

5

2,

043,

810

1,21

7,08

7

9,

928,

388

6,66

3,12

3

Pr

epai

d ex

pens

es46

1,40

0

461,

400

71

0,10

0

710,

100

71

0,10

0

710,

100

71

0,10

0

710,

100

-

-

St

ate

and

fede

ral a

id re

ceiv

able

s-

-

48

0

516

1,

032

324

-

64

9

324

1,

109

Tota

l Ass

ets

3,85

4,13

3$

2,

586,

913

$

2,72

3,98

1$

2,

988,

628

$

2,28

1,96

6$

2,

329,

684

$

3,14

9,55

7$

2,

116,

132

$

10,1

90,8

66$

6,71

5,92

6$

Liab

ilitie

sAc

coun

ts p

ayab

le72

,313

$

27,5

40$

16

,195

$

163

$

87

8$

753

$

-

$

28

,561

$

-$

-$

Accr

ued

liabi

litie

s3,

553,

726

2,32

9,95

1

2,

552,

558

2,83

3,23

7

2,

125,

860

2,11

3,87

5

1,

914,

332

1,05

8,11

4

98

9,37

0

1,00

1,80

2

U

near

ned

reve

nues

72,8

66

74

,194

-

-

-

59,8

28

53

,969

51,4

90

-

-

D

ue to

oth

er fu

nds

-

-

-

-

-

-

1,02

3,19

9

81

9,91

0

9,04

3,43

9

5,

710,

688

Tot

al li

abilit

ies

3,69

8,90

5

2,

431,

685

2,56

8,75

3

2,

833,

400

2,12

6,73

8

2,

174,

456

2,99

1,50

0

1,

958,

075

10,0

32,8

09

6,71

2,49

0

Net P

ositi

on15

5,22

8

155,

228

15

5,22

8

155,

228

15

5,22

8

155,

228

15

8,05

7

158,

057

15

8,05

7

3,43

6

Tota

l Lia

bilit

ies

and

Net P

ositi

on3,

854,

133

$

2,58

6,91

3$

2,

723,

981

$

2,98

8,62

8$

2,

281,

966

$

2,32

9,68

4$

3,

149,

557

$

2,11

6,13

2$

10

,190

,866

$ 6,

715,

926

$

CO

UN

TY O

F C

HEM

UN

G -

STA

TE O

F N

EW Y

OR

KCo

mpa

rativ

e St

atem

ents

of N

et P

ositi

onSe

lf In

sura

nce

Fund

- In

tern

al S

ervi

ce F

und

ASS

ETS

LIAB

ILIT

IES

AND

NET

POSI

TIO

N

- 101

-

2019

2018

2017

2016

2015

2014

2013

2012

2011

2010

Reve

nues

C

harg

es fo

r ser

vice

s28

,449

,252

$ 27

,894

,626

$ 26

,027

,418

$ 26

,236

,111

$ 19

,593

,990

$ 18

,866

,908

$ 22

,637

,481

$ 21

,437

,516

$ 19

,732

,690

$ 15

,829

,527

$ O

ther

reve

nues

-

995

38

-

317

60

-

30

24

0

600

T

otal

reve

nues

28,4

49,2

52

27,8

95,6

21

26,0

27,4

56

26,2

36,1

11

19,5

94,3

07

18,8

66,9

68

22,6

37,4

81

21,4

37,5

46

19,7

32,9

30

15,8

30,1

27

Expe

nses

Empl

oyee

ben

efits

28,4

49,2

52

27,8

95,6

21

26,0

27,4

56

26,2

36,1

11

19,5

94,3

07

18,8

69,7

97

22,6

37,4

81

21,4

37,5

46

19,5

78,3

09

15,8

30,1

27

Chan

ges

in N

et P

ositi

on

-

-

-

-

-

(2,8

29)

-

-

154,

621

-

Net P

ositi

on -

Begi

nnin

g15

5,22

8

155,

228

15

5,22

8

155,

228

15

5,22

8

158,

057

15

8,05

7

158,

057

3,

436

3,43

6

Net P

ositi

on -

Endi

ng15

5,22

8$

155,

228

$

15

5,22

8$

155,

228

$

15

5,22

8$

155,

228

$

15

8,05

7$

158,

057

$

15

8,05

7$

3,43

6$

CO

UN

TY O

F C

HEM

UN

G -

STA

TE O

F N

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OR

KC

ompa

rativ

e St

atem

ents

of R

even

ues,

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ense

s an

d C

hang

es in

Fun

d N

et P

ositi

onSe

lf In

sura

nce

Fund

- In

tern

al S

ervi

ce F

und

- 102

-

2019

2018

2017

2016

2015

2014

2013

2012

2011

2010

Gov

ernm

enta

l Act

iviti

esN

et in

vest

men

t in

capi

tal a

sset

s94

,905

,895

$

84

,694

,264

$

80

,681

,131

$

77

,746

,668

$

77,1

74,3

92$

75

,652

,759

$

72,9

17,1

22$

71

,206

,176

$

68,7

07,5

78$

68

,198

,883

$

Res

trict

ed-

-

-

1,25

2,71

5

3,

759,

491

1,57

8,01

2

3,

393,

928

2,63

0,15

3

3,

603,

930

1,24

7,87

0

U

nres

trict

ed(1

9,57

2,67

5)

(1

5,30

9,41

3)

(8

,371

,174

)

9,92

5,99

0

15

,702

,324

18,0

56,6

24

22

,175

,946

25,8

66,6

20

27

,430

,304

21,1

93,0

37

To

tal G

over

nmen

tal A

ctiv

ities

75,3

33,2

20$

69,3

84,8

51$

72,3

09,9

57$

88,9

25,3

73$

96

,636

,207

$

95,2

87,3

95$

98

,486

,996

$

99,7

02,9

49$

99

,741

,812

$

90,6

39,7

90$

Bus

ines

s-ty

pe A

ctiv

ities

Net

inve

stm

ent i

n ca

pita

l ass

ets

99,4

35,1

65$

102,

236,

164

$

56,6

04,7

78$

39,0

92,4

22$

41

,191

,445

$

40,3

84,8

29$

41

,062

,681

$

42,2

61,7

22$

39

,983

,156

$

35,4

53,3

36$

R

estri

cted

1,48

0,46

0

1,82

0,80

8

1,67

6,37

5

1,47

7,42

2

71

6,28

3

844,

939

69

9,63

5

882,

266

1,

011,

598

1,11

4,07

3

U

nres

trict

ed(3

,103

,135

)

(5,8

63,0

00)

(1

,289

,194

)

(2,6

14,7

30)

(10,

589,

361)

(9

,146

,897

)

(9

,144

,610

)

(1

0,88

6,39

7)

(10,

567,

802)

(1

3,33

5,23

9)

Tota

l Bus

ines

s-Ty

pe A

ctiv

ities

97,8

12,4

90$

98,1

93,9

72$

56,9

91,9

59$

37,9

55,1

14$

31

,318

,367

$

32,0

82,8

71$

32

,617

,706

$

32,2

57,5

91$

30

,426

,952

$

23,2

32,1

70$

Prim

ary

Gov

ernm

ent

Net

inve

stm

ent i

n ca

pita

l ass

ets

194,

341,

060

$

186,

930,

428

$

137,

285,

909

$

116,

839,

090

$11

8,36

5,83

7$

116,

037,

588

$11

3,97

9,80

3$

113,

467,

898

$10

8,69

0,73

4$

103,

652,

219

$R

estri

cted

1,48

0,46

0

1,82

0,80

8

1,67

6,37

5

2,73

0,13

7

4,

475,

774

2,42

2,95

1

4,

093,

563

3,51

2,41

9

4,

615,

528

2,36

1,94

3

U

nres

trict

ed(2

2,67

5,81

0)

(2

1,17

2,41

3)

(9

,660

,368

)

7,31

1,26

0

5,

112,

963

8,90

9,72

7

13

,031

,336

14,9

80,2

23

16

,862

,502

7,85

7,79

8

To

tal P

rimar

y G

over

nmen

t17

3,14

5,71

0$

16

7,57

8,82

3$

12

9,30

1,91

6$

12

6,88

0,48

7$

127,

954,

574

$12

7,37

0,26

6$

131,

104,

702

$13

1,96

0,54

0$

130,

168,

764

$11

3,87

1,96

0$

CO

UN

TY O

F C

HEM

UN

G -

STA

TE O

F N

EW Y

OR

KFi

nanc

ial T

rend

sN

et P

ositi

on b

y C

ompo

nent

- 103

-

2019

2018

2017

2016

2015

2014

2013

2012

2011

2010

Gov

ernm

enta

l act

iviti

es p

rogr

am re

venu

esG

ener

al g

over

nmen

t14

,648

,957

$

14

,869

,167

$

13

,987

,751

$

12

,457

,347

$

6,

432,

205

$

8,

394,

793

$

12

,327

,180

$

14

,446

,973

$

15

,458

,283

$

16

,399

,931

$

Ed

ucat

ion

3,34

9,71

4

3,37

0,44

6

3,50

0,43

6

3,54

2,50

0

3,70

6,31

0

3,98

2,43

1

4,01

8,52

7

4,04

1,61

8

4,65

8,80

3

5,19

2,60

2

Publ

ic s

afet

y3,

651,

613

3,

272,

650

3,

097,

062

2,

809,

747

2,

544,

643

2,

711,

629

3,

239,

083

2,

487,

423

2,

327,

890

2,

168,

517

H

ealth

10,2

24,3

56

10,5

74,7

62

10,3

38,1

53

9,81

1,66

8

9,37

2,71

6

9,82

2,36

8

8,81

0,44

1

7,70

1,46

3

9,09

4,23

4

8,83

4,54

3

Tran

spor

tatio

n10

,519

,564

8,

816,

651

8,

500,

995

9,

358,

882

10

,052

,566

11

,215

,398

9,

962,

508

9,

392,

604

11

,939

,757

8,

294,

942

Ec

onom

ic a

ssis

tanc

e33

,282

,152

32

,555

,066

32

,634

,566

34

,850

,962

33

,857

,438

32

,841

,935

35

,333

,865

38

,354

,383

38

,305

,445

37

,720

,843

C

ultu

re a

nd re

crea

tion

1,64

0,71

2

1,59

4,26

1

1,42

1,03

5

1,47

6,08

8

1,34

1,80

0

1,28

3,80

9

1,16

7,60

6

973,

728

787,

201

772,

558

Hom

e an

d co

mm

unity

ser

vice

s5,

817,

219

5,

325,

561

4,

568,

289

4,

826,

226

5,

006,

688

4,

758,

549

5,

052,

017

5,

260,

065

6,

469,

441

7,

491,

552

G

over

nmen

tal a

ctiv

ities

gene

ral r

even

ues

Rea

l pro

perty

taxe

s32

,384

,428

32

,634

,905

31

,801

,074

31

,304

,636

30

,740

,573

30

,237

,912

29

,750

,169

28

,721

,834

28

,736

,964

28

,136

,446

R

eal p

rope

rty ta

x ite

ms

4,30

2,86

0

3,61

6,02

7

4,20

9,96

0

4,07

8,42

8

4,23

2,09

6

4,29

1,95

1

4,75

0,09

9

3,96

6,21

5

3,72

7,59

3

3,30

6,63

2

Sale

s an

d us

e ta

xes

62,4

77,9

71

61,0

64,1

26

57,1

80,0

48

55,2

96,0

35

56,8

28,5

92

59,1

39,2

80

57,0

66,6

49

59,5

49,4

01

60,6

37,0

80

57,8

51,6

22

Occ

upan

cy ta

xes

657,

804

695,

874

680,

329

692,

786

687,

420

716,

183

684,

736

821,

345

853,

322

767,

734

Surc

harg

e ta

xes

357,

804

265,

758

273,

188

292,

225

295,

498

297,

645

304,

271

307,

970

309,

918

309,

510

Use

of m

oney

and

pro

perty

1,77

7,13

6

1,70

2,71

8

1,37

8,71

0

1,40

9,44

7

1,44

5,50

8

1,47

0,01

6

1,53

9,65

4

1,48

8,31

2

1,39

7,06

6

1,23

3,64

6

Sale

of p

rope

rty a

nd c

ompe

nsat

ion

for l

oss

873,

564

995,

483

874,

589

1,87

2,60

3

862,

558

1,00

7,99

2

329,

756

1,06

2,65

4

1,01

9,86

1

929,

473

Mis

cella

neou

s lo

cal s

ourc

es4,

586,

364

4,

631,

861

7,

055,

083

7,

933,

674

4,

719,

156

3,

201,

576

3,

139,

182

4,

264,

413

4,

985,

443

3,

933,

562

In

terfu

nd tr

ansf

ers

- net

(234

,553

)

(5

12,1

07)

(1,0

54,3

22)

(1

99,9

54)

(3,0

54,3

08)

(1

,513

,994

)

(1,8

79,7

80)

(3

,153

,625

)

-

-

Tota

l gov

ernm

enta

l act

iviti

es19

0,31

7,66

5

18

5,47

3,20

9

18

0,44

6,94

6

18

1,81

3,30

0

16

9,07

1,45

9

17

3,85

9,47

3

17

5,59

5,96

3

17

9,68

6,77

6

19

0,70

8,30

1

18

3,34

4,11

3

Bu

sine

ss-ty

pe a

ctiv

ities

pro

gram

reve

nues

Che

mun

g C

ount

y N

ursi

ng F

acilit

y17

,753

,862

17

,445

,476

17

,185

,816

17

,229

,869

18

,013

,759

17

,667

,927

16

,828

,076

16

,501

,635

16

,056

,977

15

,095

,294

El

mira

-Cor

ning

Reg

iona

l Airp

ort

8,11

8,83

9

49,6

46,6

00

24,9

25,1

67

3,55

2,68

9

3,59

5,33

7

3,51

3,31

5

3,30

6,50

6

3,52

6,31

6

3,42

5,90

5

2,89

5,87

6

Che

mun

g To

bacc

o As

set S

ecur

itiza

tion

Cor

pora

tion

-

-

-

-

-

-

-

60

3,97

4

59

3,00

1

73

5,34

5

Bu

sine

ss-ty

pe a

ctiv

ities

gen

eral

reve

nues

Use

of m

oney

and

pro

perty

18,9

15

14,4

70

-

1,

767

12

17

-

10

8

105

13

8

Sale

of p

rope

rty a

nd c

ompe

nsat

ion

for l

oss

-

-

(1,5

15,2

65)

-

-

-

-

-

-

-

Mis

cella

neou

s lo

cal s

ourc

es5,

830,

770

7,

084,

631

9,

648,

297

16

,876

,814

2,

812,

487

5,

911,

436

6,

314,

709

3,

726,

006

6,

668,

863

50

,170

In

terfu

nd tr

ansf

ers

- ne

t23

4,55

3

51

2,10

7

1,

054,

322

19

9,95

4

3,

054,

308

1,

513,

994

1,

879,

780

3,

153,

625

-

361,

901

Tota

l bus

ines

s-ty

pe a

ctiv

ities

31,9

56,9

39

74,7

03,2

84

51,2

98,3

37

37,8

61,0

93

27,4

75,9

03

28,6

06,6

89

28,3

29,0

71

27,5

11,6

64

26,7

44,8

51

19,1

38,7

24

Tota

l Prim

ary

Gov

ernm

ent R

even

ues

222,

274,

604

260,

176,

493

231,

745,

283

219,

674,

393

196,

547,

362

202,

466,

162

203,

925,

034

207,

198,

440

217,

453,

152

202,

482,

837

Expe

nses

Gov

ernm

enta

l act

iviti

esG

ener

al g

over

nmen

t38

,574

,393

38

,484

,175

40

,860

,561

38

,976

,008

37

,867

,959

41

,516

,081

40

,070

,430

42

,791

,187

40

,431

,955

39

,208

,172

Ed

ucat

ion

3,34

9,71

4

3,36

4,48

2

3,50

6,22

8

3,51

9,96

1

3,70

3,30

2

4,04

1,97

0

4,30

4,88

7

4,28

4,40

9

4,66

1,42

2

5,19

2,60

2

Publ

ic s

afet

y27

,052

,985

27

,327

,350

30

,006

,582

25

,779

,064

22

,210

,128

22

,351

,154

24

,370

,977

22

,888

,662

20

,765

,379

19

,612

,371

H

ealth

14,8

33,8

17

15,7

07,4

34

16,7

62,7

40

15,2

28,6

49

13,6

20,1

96

14,0

31,3

59

13,4

23,3

78

14,0

24,6

15

13,9

38,4

98

17,0

17,6

68

Tran

spor

tatio

n19

,164

,800

20

,081

,953

20

,257

,333

17

,682

,910

15

,679

,954

15

,407

,954

14

,228

,619

13

,518

,783

13

,619

,744

8,

573,

440

Ec

onom

ic a

ssis

tanc

e67

,672

,405

68

,872

,417

72

,782

,766

74

,460

,270

61

,822

,275

66

,972

,764

68

,565

,148

70

,766

,316

70

,329

,152

65

,267

,320

C

ultu

re a

nd re

crea

tion

3,40

1,79

3

3,55

5,59

8

3,63

6,56

5

3,02

1,11

2

3,15

8,42

9

2,90

3,25

7

2,73

9,14

2

1,64

2,14

7

2,73

6,25

1

2,50

9,77

5

Hom

e an

d co

mm

unity

ser

vice

s9,

155,

115

9,

938,

812

10

,608

,588

9,

696,

692

8,

488,

041

8,

655,

396

8,

000,

476

8,

506,

752

7,

762,

376

8,

524,

790

D

ebt i

nter

est

1,16

4,27

4

1,06

6,09

4

938,

117

1,15

9,46

8

1,17

2,36

3

1,17

9,13

9

1,10

8,85

9

1,29

3,52

5

1,38

2,84

5

1,55

2,08

1

Tota

l gov

ernm

enta

l act

iviti

es18

4,36

9,29

6

18

8,39

8,31

5

19

9,35

9,48

0

18

9,52

4,13

4

16

7,72

2,64

7

17

7,05

9,07

4

17

6,81

1,91

6

17

9,71

6,39

6

17

5,62

7,62

2

16

7,45

8,21

9

Bu

sine

ss-ty

pe a

ctiv

ities

Che

mun

g C

ount

y N

ursi

ng F

acilit

y23

,161

,205

24

,815

,164

22

,338

,630

24

,066

,868

21

,770

,145

22

,651

,976

21

,793

,284

19

,824

,583

20

,133

,041

19

,408

,365

El

mira

-Cor

ning

Reg

iona

l Airp

ort

8,88

4,68

1

8,37

9,17

6

7,30

8,12

3

6,70

8,65

7

6,09

5,32

5

6,09

6,46

0

5,69

4,47

5

5,44

1,76

5

4,94

9,76

5

4,70

3,39

0

Che

mun

g To

bacc

o As

set S

ecur

itiza

tion

Cor

pora

tion

292,

535

306,

931

317,

621

448,

821

374,

937

393,

088

481,

197

423,

920

445,

920

826,

938

Tota

l bus

ines

s-ty

pe a

ctiv

ities

32,3

38,4

21

33,5

01,2

71

29,9

64,3

74

31,2

24,3

46

28,2

40,4

07

29,1

41,5

24

27,9

68,9

56

25,6

90,2

68

25,5

28,7

26

24,9

38,6

93

Tota

l Prim

ary

Gov

ernm

ent E

xpen

ses

216,

707,

717

221,

899,

586

229,

323,

854

220,

748,

480

195,

963,

054

206,

200,

598

204,

780,

872

205,

406,

664

201,

156,

348

192,

396,

912

Chan

ges

in N

et P

ositi

on -

Gov

ernm

enta

l Act

iviti

es5,

948,

369

(2

,925

,106

)

(18,

912,

534)

(7,7

10,8

34)

1,

348,

812

(3

,199

,601

)

(1,2

15,9

53)

(2

9,62

0)

15,0

80,6

79

15,8

85,8

94

Chan

ges

in N

et P

ositi

on -

Busi

ness

-type

Act

iviti

es(3

81,4

82)

41,2

02,0

13

21,3

33,9

63

6,63

6,74

7

(764

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)

(5

34,8

35)

360,

115

1,82

1,39

6

1,21

6,12

5

(5,7

99,9

69)

Chan

ges

in N

et P

ositi

on -

Tota

l Prim

ary

Gov

ernm

ent

5,56

6,88

7$

38,2

76,9

07$

2,42

1,42

9$

(1,0

74,0

87)

$

58

4,30

8$

(3

,734

,436

)$

(855

,838

)$

1,

791,

776

$

16

,296

,804

$

10

,085

,925

$

Prog

ram

Rev

enue

s (E

xpen

ses)

By

Func

tion

Gov

ernm

enta

l act

iviti

esG

ener

al g

over

nmen

t(2

3,92

5,43

6)$

(2

3,61

5,00

8)$

(2

6,87

2,81

0)$

(2

6,51

8,66

1)$

(3

1,43

5,75

4)$

(3

3,12

1,28

8)$

(2

7,74

3,25

0)$

(2

8,34

4,21

4)$

(2

4,97

3,67

2)$

(2

2,80

8,24

1)$

Ed

ucat

ion

-

5,96

4

(5

,792

)

22,5

39

3,00

8

(5

9,53

9)

(286

,360

)

(2

42,7

91)

(2,6

19)

-

Pu

blic

saf

ety

(23,

401,

372)

(24,

054,

700)

(26,

909,

520)

(22,

969,

317)

(19,

665,

485)

(19,

639,

525)

(21,

131,

894)

(20,

401,

239)

(18,

437,

489)

(17,

443,

854)

Hea

lth(4

,609

,461

)

(5,1

32,6

72)

(6

,424

,587

)

(5,4

16,9

81)

(4

,247

,480

)

(4,2

08,9

91)

(4

,612

,937

)

(6,3

23,1

52)

(4

,844

,264

)

(8,1

83,1

25)

Tr

ansp

orta

tion

(8,6

45,2

36)

(1

1,26

5,30

2)

(1

1,75

6,33

8)

(8

,324

,028

)

(5,6

27,3

88)

(4

,192

,556

)

(4,2

66,1

11)

(4

,126

,179

)

(1,6

79,9

87)

(2

78,4

98)

Econ

omic

ass

ista

nce

(34,

390,

253)

(36,

317,

351)

(40,

148,

200)

(39,

609,

308)

(27,

964,

837)

(34,

130,

829)

(33,

231,

283)

(32,

411,

933)

(32,

023,

707)

(27,

546,

477)

Cul

ture

and

recr

eatio

n(1

,761

,081

)

(1,9

61,3

37)

(2

,215

,530

)

(1,5

45,0

24)

(1

,816

,629

)

(1,6

19,4

48)

(1

,571

,536

)

(668

,419

)

(1

,949

,050

)

(1,7

37,2

17)

H

ome

and

com

mun

ity s

ervi

ces

(3,3

37,8

96)

(4

,613

,251

)

(6,0

40,2

99)

(4

,870

,466

)

(3,4

81,3

53)

(3

,896

,847

)

(2,9

48,4

59)

(3

,246

,687

)

(1,2

92,9

35)

(1

,033

,238

)

Deb

t int

eres

t(1

,164

,274

)

(1,0

66,0

94)

(9

38,1

17)

(1,1

59,4

68)

(1

,172

,363

)

(1,1

79,1

39)

(1

,108

,859

)

(1,2

93,5

25)

(1

,382

,845

)

(1,5

52,0

81)

To

tal g

over

nmen

tal a

ctiv

ities

(101

,235

,009

)

(1

08,0

19,7

51)

(121

,311

,193

)

(1

10,3

90,7

14)

(95,

408,

281)

(102

,048

,162

)

(9

6,90

0,68

9)

(9

7,05

8,13

9)

(8

6,58

6,56

8)

(8

0,58

2,73

1)

Bu

sine

ss-ty

pe a

ctiv

ities

Che

mun

g C

ount

y N

ursi

ng F

acilit

y(5

,407

,343

)

(7,3

69,6

88)

(5

,152

,814

)

(6,8

36,9

99)

(3

,756

,386

)

(4,9

84,0

49)

(4

,965

,208

)

(3,3

22,9

48)

(4

,076

,064

)

(4,3

13,0

71)

El

mira

-Cor

ning

Reg

iona

l Airp

ort

(765

,842

)

41

,267

,424

17

,617

,044

(3

,155

,968

)

(2,4

99,9

88)

(2

,583

,145

)

(2,3

87,9

69)

(1

,915

,449

)

(1,5

23,8

60)

(1

,807

,514

)

Che

mun

g To

bacc

o As

set S

ecur

itiza

tion

Cor

pora

tion

(292

,535

)

(3

06,9

31)

(317

,621

)

(4

48,8

21)

(374

,937

)

(3

93,0

88)

(481

,197

)

18

0,05

4

14

7,08

1

(9

1,59

3)

Tota

l bus

ines

s-ty

pe a

ctiv

ities

(6,4

65,7

20)

33

,590

,805

12

,146

,609

(1

0,44

1,78

8)

(6

,631

,311

)

(7,9

60,2

82)

(7

,834

,374

)

(5,0

58,3

43)

(5

,452

,843

)

(6,2

12,1

78)

Tota

l Pro

gram

Rev

enue

s (E

xpen

ses)

By

Func

tion

(107

,700

,729

)$

(7

4,42

8,94

6)$

(1

09,1

64,5

84)

$

(120

,832

,502

)$

(1

02,0

39,5

92)

$

(110

,008

,444

)$

(1

04,7

35,0

63)

$

(102

,116

,482

)$

(9

2,03

9,41

1)$

(8

6,79

4,90

9)$

CO

UN

TY O

F C

HEM

UN

G -

STA

TE O

F N

EW Y

OR

KFi

nanc

ial T

rend

sPr

imar

y G

over

nmen

t Cha

nges

in N

et P

ositi

on

Rev

enue

s

- 104

-

2019 2018 2017 2016 2015 2014 2013 2012 2011 2010

General Fund Nonspendable 1,447,641$ 1,510,189$ 2,697,777$ 2,209,883$ 2,165,018$ 1,762,797$ 1,707,970$ 1,556,892$ 1,288,129$ 933,484$ Restricted - health insurance cash - - - - - - 1,358,878 1,356,163 1,352,916 1,348,203 Restricted - unspent bond proceeds - - - - - - - - - - Committed - DWI funds 266,869 286,535 202,847 202,847 247,413 247,413 254,372 282,179 275,455 234,925 Committed - senior games 21,935 21,516 20,246 20,246 18,269 12,766 8,795 10,059 - - Committed - transit projects 7,623 7,623 7,623 7,623 7,623 7,623 - - - - Committed - employee benefits - - 41,464 41,464 41,464 - - - - - Committed - purchase agreement funds - - - - - - - - - - Assigned - capital projects - - - - - - - - - - Assigned - special revenue funds - - - - - - - - - - Assigned - reserve for encumbrances - - - - - - 190,753 218,520 - - Assigned - subsequent years 293,250 1,786,828 - - - - - - - - Unassigned 25,198,938 20,857,867 21,753,134 21,324,185 25,497,491 27,171,137 26,952,012 28,240,892 27,395,775 20,951,324 Total General Fund 27,236,256$ 24,470,558$ 24,723,091$ 23,806,248$ 27,977,278$ 29,201,736$ 30,472,780$ 31,664,705$ 30,312,275$ 23,467,936$

Capital Projects Fund Nonspendable -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Restricted - health insurance cash - - - - - - - - - - Restricted - unspent bond proceeds 2,187,869 1,355,369 1,079,204 1,252,715 - - - - 2,251,014 - Committed - DWI funds - - - - - - - - - - Committed - senior games - - - - - - - - - - Committed - transit projects - - - - - - - - - - Committed - employee benefits - - - - - - - - - - Committed - purchase agreement funds - - - - - - - - - 508,003 Assigned - capital projects - 207,617 - - - - - - - 472,722 Assigned - special revenue funds - - - - - - - - - - Assigned - reserve for encumbrances - - - - - - - - - - Unassigned (6,378,144) - - - (93,724) (2,435,629) (1,996,710) (273,265) - -

Total Capital Projects Fund (4,190,275)$ 1,562,986$ 1,079,204$ 1,252,715$ (93,724)$ (2,435,629)$ (1,996,710)$ (273,265)$ 2,251,014$ 980,725$

County Road Fund Nonspendable 290$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Restricted - health insurance cash - - - - - - - - - - Restricted - unspent bond proceeds - - - - - - - - - - Committed - DWI funds - - - - - - - - - - Committed - senior games - - - - - - - - - - Committed - transit projects - - - - - - - - - - Committed - employee benefits - - - - - - - - - - Committed - purchase agreement funds - - - - - - - - - - Assigned - capital projects - - - - - - - - - - Assigned - special revenue funds - - - - - - - - - - Assigned - reserve for encumbrances - - - - - - - - - - Unassigned (290) - - - - - - - - -

Total County Road Fund -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

Road Machinery Fund Nonspendable -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Restricted - health insurance cash - - - - - - - - - - Restricted - unspent bond proceeds - - - - - - - - - - Committed - DWI funds - - - - - - - - - - Committed - senior games - - - - - - - - - - Committed - transit projects - - - - - - - - - - Committed - employee benefits - - - - - - - - - - Committed - purchase agreement funds - - - - - - - - - - Assigned - capital projects - - - - - - - - - - Assigned - special revenue funds - - - 85,280 85,280 85,280 85,280 85,280 85,280 85,280 Assigned - reserve for encumbrances - - - - - - - - - - Unassigned - - - - - - - - - -

Total Road Machinery Fund -$ -$ -$ 85,280$ 85,280$ 85,280$ 85,280$ 85,280$ 85,280$ 85,280$

Solid Waste Fund Nonspendable -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Restricted - health insurance cash - - - - - - - - - - Restricted - unspent bond proceeds - - - - - - - - - - Committed - DWI funds - - - - - - - - - - Committed - senior games - - - - - - - - - - Committed - transit projects - - - - - - - - - - Committed - employee benefits - - - - - - - - - - Committed - purchase agreement funds - - - - - - - - - - Assigned - capital projects - - - - - - - - - - Assigned - special revenue funds 183,384 226,937 407,089 663,607 774,983 770,894 1,133,632 1,159,479 835,709 865,903 Assigned - reserve for encumbrances - - - - - - - - - - Unassigned - - - - - - - - - -

Total Solid Waste Fund 183,384$ 226,937$ 407,089$ 663,607$ 774,983$ 770,894$ 1,133,632$ 1,159,479$ 835,709$ 865,903$

Sewer Funds Nonspendable 65,835$ 17,716$ -$ -$ 11,491$ 20,660$ -$ -$ -$ -$ Restricted - health insurance cash - - - - - - - - - - Restricted - unspent bond proceeds - - - - - - - - - - Committed - DWI funds - - - - - - - - - - Committed - senior games - - - - - - - - - - Committed - transit projects - - - - - - - - - - Committed - employee benefits - - - - - - - - - - Committed - purchase agreement funds - - - - - - - - - - Assigned - capital projects - - - - - - - - - - Assigned - special revenue funds 421,368 478,828 1,453,525 2,474,122 2,715,551 2,378,719 2,780,941 2,537,938 2,233,839 2,158,906 Assigned - reserve for encumbrances - - - - - - 11,400 11,400 - - Unassigned - - - - - - - - - -

Total Sewer Funds 487,203$ 496,544$ 1,453,525$ 2,474,122$ 2,727,042$ 2,399,379$ 2,792,341$ 2,549,338$ 2,233,839$ 2,158,906$

COUNTY OF CHEMUNG - STATE OF NEW YORKFinancial Trends

Fund Balances of Governmental Funds

- 105 -

2019

2018

2017

2016

2015

2014

2013

2012

2011

2010

Rev

enue

sR

eal p

rope

rty ta

xes

32,0

52,6

89$

32

,632

,652

$

31,2

79,3

99$

31

,588

,572

$

30,1

24,7

20$

30

,389

,441

$

29,5

48,0

92$

28

,721

,834

$

28,7

36,9

64$

28

,136

,446

$

Rea

l pro

perty

tax

item

s4,

302,

860

3,

616,

027

4,

209,

960

4,

078,

428

4,

232,

096

4,

291,

951

4,

750,

099

3,

966,

215

3,

727,

593

3,

306,

632

S

ales

and

use

taxe

s62

,477

,971

61,0

64,1

26

57

,180

,048

55,2

96,0

35

56

,828

,592

59,1

39,2

80

57

,066

,649

59,5

49,4

01

60

,637

,080

57,8

51,6

22

O

ccup

ancy

taxe

s65

7,80

4

69

5,87

4

68

0,32

9

69

2,78

6

68

7,42

0

71

6,18

3

68

4,73

6

82

1,34

5

85

3,32

2

76

7,73

4

S

urch

arge

taxe

s35

7,80

4

26

5,75

8

27

3,18

8

29

2,22

5

29

5,49

8

29

7,64

5

30

4,27

1

30

7,97

0

30

9,91

8

30

9,51

0

D

epar

tmen

t inc

ome

16,4

31,0

11

16

,194

,066

16,2

00,7

20

15

,153

,833

15,5

03,1

63

15

,424

,801

17,2

98,3

99

16

,276

,649

16,6

71,7

19

21

,015

,210

Inte

rgov

ernm

enta

l cha

rges

5,04

2,80

9

5,17

3,68

5

4,33

8,66

5

4,74

9,65

1

4,57

5,94

7

4,99

3,20

0

5,04

2,48

4

4,95

6,99

0

5,57

2,94

1

7,00

9,23

6

Use

of m

oney

and

pro

perty

1,77

7,13

6

1,70

2,71

8

1,37

8,71

0

1,40

9,44

7

1,44

5,50

8

1,47

0,01

6

1,53

9,65

4

1,48

8,31

2

1,39

7,06

6

1,23

3,64

6

Lice

nses

and

per

mits

49,8

77

43

,002

51,9

21

56

,413

42,1

20

37

,127

36,8

63

26

,113

39,7

23

18

,819

Fine

s an

d fo

rfeitu

res

225,

386

204,

851

180,

127

209,

557

307,

517

301,

618

313,

756

277,

060

319,

042

266,

627

Sale

of p

rope

rty a

nd c

ompe

nsat

ion

for l

oss

907,

742

1,07

5,09

0

877,

349

1,88

2,05

4

898,

803

1,05

6,70

8

990,

607

1,22

0,43

2

1,02

6,77

2

1,22

6,28

5

Mis

cella

neou

s lo

cal s

ourc

es4,

586,

364

4,

631,

861

7,

055,

083

7,

933,

674

4,

719,

156

3,

201,

576

3,

139,

182

3,

986,

244

4,

597,

871

4,

137,

226

St

ate

aid

26,4

24,5

13

25

,335

,188

25,0

66,5

76

27

,012

,711

23,7

93,7

04

26

,008

,452

23,0

76,6

69

23

,682

,527

23,1

88,8

12

24

,718

,163

Fede

ral a

id26

,269

,619

24,4

01,6

32

23

,701

,943

24,5

53,8

89

26

,571

,867

24,2

36,8

24

27

,369

,892

28,5

71,5

67

33

,348

,562

28,1

92,3

06

To

tal r

even

ues

181,

563,

585

17

7,03

6,53

0

172,

474,

018

17

4,90

9,27

5

170,

026,

111

17

1,56

4,82

2

171,

161,

353

17

3,85

2,65

9

180,

427,

385

17

8,18

9,46

2

Expe

nditu

res

Gen

eral

gov

ernm

ent s

uppo

rt33

,703

,173

32,4

58,8

15

32

,223

,865

33,0

37,8

97

32

,868

,488

37,8

82,5

77

35

,430

,232

36,5

97,1

64

37

,096

,446

34,0

56,5

24

Ed

ucat

ion

3,34

9,71

4

3,36

4,48

2

3,50

6,22

8

3,51

9,96

1

3,70

3,30

2

4,04

1,97

0

4,30

4,88

7

4,28

4,40

9

4,66

1,42

2

5,19

2,60

2

Publ

ic s

afet

y16

,613

,934

16,0

99,6

42

15

,535

,051

17,4

99,6

86

16

,254

,403

18,1

84,2

89

15

,699

,002

13,8

18,6

03

13

,210

,294

12,6

58,8

95

H

ealth

11,4

85,6

17

11

,804

,164

11,4

57,8

29

11

,130

,696

10,7

22,0

97

10

,328

,478

10,0

38,5

04

10

,152

,826

10,4

48,7

37

10

,345

,121

Tran

spor

tatio

n20

,143

,441

19,8

07,3

44

18

,931

,160

16,3

26,6

41

14

,375

,581

15,4

07,7

34

18

,134

,153

13,4

64,1

63

19

,693

,093

15,1

24,5

36

Ec

onom

ic a

ssis

tanc

e60

,394

,087

60,6

13,0

35

61

,704

,513

66,3

82,9

39

57

,356

,227

59,9

03,7

80

61

,684

,224

62,9

76,2

28

63

,330

,901

59,5

45,1

22

C

ultu

re a

nd re

crea

tion

2,32

6,15

0

2,44

7,24

2

2,28

6,98

4

2,33

0,76

5

2,44

8,40

1

2,23

6,64

7

2,07

7,78

5

2,10

7,91

1

2,02

7,98

2

1,94

1,32

3

Hom

e an

d co

mm

unity

ser

vice

s14

,011

,529

9,03

5,12

8

6,72

3,88

6

6,84

5,73

4

6,13

2,30

6

6,51

9,44

8

5,46

8,58

2

5,70

8,35

6

5,70

7,76

5

7,60

9,18

4

Empl

oyee

ben

efits

22,3

13,9

74

21

,885

,001

19,9

76,1

16

21

,504

,359

21,1

36,2

50

19

,696

,983

19,4

30,6

70

19

,885

,776

16,7

04,7

08

15

,156

,058

Deb

t prin

cipa

l5,

264,

090

5,

020,

980

4,

768,

535

4,

457,

978

4,

471,

081

3,

610,

272

3,

285,

317

3,

410,

289

4,

302,

889

4,

205,

744

D

ebt i

nter

est

1,27

3,33

4

1,26

1,91

5

1,05

5,57

7

1,17

7,24

6

1,19

4,64

6

1,17

7,78

3

1,14

7,34

4

1,29

8,68

4

1,30

8,21

9

1,50

2,32

8

Deb

t iss

uanc

e co

sts

-

-

100,

083

-

-

-

-

-

10

1,00

2

-

Tota

l exp

endi

ture

s19

0,87

9,04

3

183,

797,

748

17

8,26

9,82

7

184,

213,

902

17

0,66

2,78

2

178,

989,

961

17

6,70

0,70

0

173,

704,

409

17

8,59

3,45

8

167,

337,

437

Oth

er F

inan

cing

Sou

rces

(Use

s)Pr

ocee

ds o

f ref

undi

ng b

onds

-

-

10,3

39,5

07

-

-

-

4,63

4,24

6

-

5,

978,

590

-

Issu

ance

of d

ebt

6,46

4,11

4

5,95

6,48

1

5,98

5,43

1

5,53

7,11

3

4,30

8,76

6

4,91

6,07

7

4,84

2,75

2

2,47

2,79

5

7,90

7,13

1

2,30

6,78

6

Cap

ital l

ease

-

30

6,34

8

14

5,55

4

77

8,58

1

83

1,41

2

1,

557,

393

-

-

-

-

In

terfu

nd tr

ansf

ers

- in

8,59

3,97

1

10,1

53,6

36

8,

959,

433

7,

948,

463

8,

505,

680

7,

177,

502

6,

475,

606

6,

123,

620

6,

163,

966

4,

399,

164

In

terfu

nd tr

ansf

ers

- out

(8,8

28,5

24)

(10,

665,

743)

(10,

013,

755)

(8,1

48,4

17)

(11,

559,

988)

(8,6

91,4

96)

(8,3

55,3

86)

(9,2

77,2

45)

(12,

393,

043)

(13,

115,

217)

Prem

ium

on

issu

ance

of b

onds

45,4

40

10

4,61

2

1,

536,

212

-

-

-

-

-

-

-

Paym

ent t

o re

fund

ed b

ond

escr

ow a

gent

-

-

(11,

775,

636)

-

-

-

(4

,756

,085

)

-

(5,8

77,5

88)

-

To

tal o

ther

fina

ncin

g so

urce

s (u

ses)

6,27

5,00

1

5,85

5,33

4

5,17

6,74

6

6,11

5,74

0

2,08

5,87

0

4,95

9,47

6

2,84

1,13

3

(680

,830

)

1,77

9,05

6

(6,4

09,2

67)

Cha

nges

in F

und

Bal

ance

(3,0

40,4

57)

$

(905

,884

)$

(619

,063

)$

(3,1

88,8

87)

$

1,44

9,19

9$

(2,4

65,6

63)

$

(2,6

98,2

14)

$

(532

,580

)$

3,61

2,98

3$

4,44

2,75

8$

Rat

io o

f tot

al d

ebt s

ervi

ce to

non

capi

tal

exp

endi

ture

s3.

82%

3.64

%3.

46%

3.21

%3.

61%

2.87

%2.

63%

3.03

%3.

39%

3.58

%

CO

UN

TY O

F C

HEM

UN

G -

STAT

E O

F N

EW Y

OR

KFi

nanc

ial T

rend

sC

hang

es in

Fun

d B

alan

ces

of G

over

nmen

tal F

unds

- 106

-

2019

2018

2017

2016

2015

2014

2013

2012

2011

2010

Res

iden

tial P

rope

rty3,

297,

469,

477

$ 3,

303,

678,

265

$ 3,

319,

693,

752

$ 3,

257,

779,

956

$ 3,

467,

556,

287

$ 3,

167,

941,

572

$ 3,

087,

108,

907

$ 2,

916,

572,

123

$ 2,

841,

923,

452

$ 2,

813,

189,

384

$ C

omm

erci

al P

rope

rty2,

283,

664,

707

2,

254,

695,

892

2,

233,

466,

967

2,

209,

003,

424

2,

219,

278,

888

1,

940,

241,

331

1,

883,

150,

525

2,

146,

593,

087

2,

113,

349,

287

2,

151,

742,

006

Le

ss: T

ax E

xem

pt P

rope

rty1,

211,

049,

503

1,

204,

482,

403

1,

209,

975,

169

1,

316,

099,

808

1,

451,

486,

680

1,

190,

812,

464

1,

148,

203,

367

1,

203,

599,

289

1,

086,

530,

672

1,

197,

783,

656

Fu

ll Va

lue

Ass

essm

ent

4,37

0,08

4,68

1$

4,35

3,89

1,75

4$

4,34

3,18

5,55

0$

4,15

0,68

3,57

2$

4,23

5,34

8,49

5$

3,91

7,37

0,43

9$

3,82

2,05

6,06

5$

3,85

9,56

5,92

1$

3,86

8,74

2,06

7$

3,76

7,14

7,73

4$

Tota

l Dire

ct C

ount

y Ta

x R

ate

Per $

1,00

08.

12$

8.

13$

7.

97$

8.

40$

8.

20$

8.

78$

9.

07$

8.

75$

8.

87$

8.

91$

CO

UN

TYC

ount

y29

,971

,316

29

,906

,109

$

29

,146

,582

$

29

,012

,588

$

28

,892

,515

$

28

,540

,320

$

28

,548

,650

$

27

,005

,000

$

27

,005

,000

$

26

,322

,145

$

C

omm

unity

Col

lege

3,45

0,00

0

3,45

0,00

0

3,50

0,00

0

3,80

0,00

0

3,79

2,35

9

3,80

0,27

4

3,79

9,34

0

4,80

0,00

0

5,32

0,96

9

5,28

2,67

4

Elm

ira S

ewer

Dis

trict

902,

408

902,

408

802,

408

906,

983

902,

408

902,

408

1,19

3,47

2

868,

842

868,

841

868,

842

Sew

er D

istri

ct #

11,

149,

108

1,

149,

108

1,

149,

107

1,

149,

107

1,

149,

108

1,

152,

066

1,

136,

523

1,

106,

218

1,

106,

218

1,

106,

218

So

lid W

aste

-

-

-

-

-

-

-

-

-

-

Tot

al c

ount

y35

,472

,832

35

,407

,625

34

,598

,097

34

,868

,678

34

,736

,390

34

,395

,068

34

,677

,985

33

,780

,060

34

,301

,028

33

,579

,879

TOW

NS

Ashl

and

292,

660

285,

360

277,

740

277,

380

275,

399

271,

299

266,

245

340,

233

257,

561

249,

522

Bald

win

214,

357

209,

567

203,

878

202,

844

202,

644

200,

922

198,

546

194,

666

217,

201

223,

196

Big

Flat

s2,

248,

201

2,

182,

582

2,

157,

057

2,

001,

045

1,

974,

975

1,

977,

255

2,

063,

212

2,

067,

429

2,

064,

782

1,

985,

122

C

atlin

763,

058

750,

950

703,

112

699,

006

620,

572

595,

682

521,

100

509,

235

501,

236

482,

776

Che

mun

g29

1,60

0

23

7,75

0

24

7,45

0

25

6,32

0

25

7,30

0

19

8,25

0

11

3,10

0

12

2,87

6

11

1,50

0

11

2,50

0

El

mira

(Tow

n)1,

069,

366

1,

045,

298

1,

023,

336

1,

041,

338

1,

000,

090

1,

050,

491

1,

050,

616

1,

096,

949

1,

091,

197

1,

357,

898

Er

in23

1,45

1

22

3,74

5

22

2,52

0

21

9,99

6

21

7,30

6

21

0,90

6

21

0,90

6

21

0,90

6

21

0,90

6

19

5,43

3

H

orse

head

s2,

375,

527

2,

600,

871

62

5,33

0

54

9,23

9

60

5,87

3

63

1,74

0

61

8,05

5

59

1,66

1

60

5,38

9

62

7,69

8

So

uthp

ort

1,01

5,32

6

883,

857

832,

879

867,

557

1,00

4,60

7

893,

481

913,

162

949,

989

947,

650

950,

000

Van

Ette

n55

7,53

0

59

5,65

5

64

2,19

7

64

8,21

8

64

8,58

5

63

6,35

7

61

8,65

0

65

9,75

7

71

0,60

3

69

4,11

7

Ve

tera

n51

2,28

3

40

7,40

3

39

7,03

5

39

3,40

9

38

6,79

8

37

6,23

9

36

6,93

9

35

8,30

6

35

6,41

2

32

5,18

5

T

otal

tow

ns9,

571,

359

9,

423,

038

7,

332,

534

7,

156,

352

7,

194,

149

7,

042,

622

6,

940,

531

7,

102,

007

7,

074,

437

7,

203,

447

CITY

City

of E

lmira

18,6

54,5

08

18,8

80,4

04

15,8

88,8

63

14,8

26,9

77

14,3

74,7

86

13,7

64,5

73

10,8

05,3

42

10,3

96,2

90

10,4

42,5

44

10,2

37,2

52

VILL

AGES

Villa

ge o

f Wel

lsbu

rgIN

AIN

A90

,100

94

,184

92

,905

92

,049

92

,335

93

,719

85

,487

67

,514

Vi

llage

of E

lmira

Hei

ghts

1,89

6,26

3

1,85

8,75

6

1,76

4,09

9

1,70

2,08

2

1,70

2,08

1

1,66

4,77

8

1,56

9,71

0

1,52

3,18

0

1,49

3,31

4

1,44

2,28

8

Villa

ge o

f Hor

sehe

ads

2,05

6,20

6

1,94

0,73

8

1,84

7,08

4

1,82

4,80

8

1,84

7,08

5

1,78

1,45

7

1,67

4,80

6

1,51

2,85

3

1,49

5,45

4

1,38

4,95

4

Villa

ge o

f Van

Ette

n67

,890

87

,890

67

,340

78

,848

63

,570

60

,420

60

,420

40

,320

40

,320

40

,670

Vi

llage

of M

illpor

t44

,908

49

,630

IN

A48

,159

37

,618

46

,949

49

,317

43

,792

43

,792

37

,771

T

otal

villa

ges

4,06

5,26

7

3,93

7,01

4

3,76

8,62

3

3,74

8,08

1

3,74

3,25

9

3,64

5,65

3

3,44

6,58

8

3,21

3,86

4

3,15

8,36

7

2,97

3,19

7

SPEC

IAL

DIS

TRIC

TSLi

brar

y D

istri

ct3,

009,

492

2,

889,

057

2,

825,

123

2,

725,

648

2,

677,

624

2,

637,

341

2,

361,

139

2,

528,

242

2,

481,

966

2,

437,

502

Ba

ldw

in N

o. 1

Fire

Dis

trict

74,3

27

147,

548

-

72

,863

72

,141

70

,727

68

,667

67

,320

66

,000

62

,714

Bi

g Fl

ats

No.

1 F

ire D

istri

ct84

5,15

0

85

4,30

0

63

7,25

0

63

1,52

2

63

0,40

0

62

2,86

8

61

1,42

9

60

6,32

1

59

3,15

0

57

5,85

0

Bi

g Fl

ats

No.

2 F

ire D

istri

ctIN

AIN

A17

5,00

0

17

6,27

8

17

5,00

0

17

9,96

0

17

6,43

1

17

2,97

2

16

9,58

0

10

0,16

0

C

hem

ung

No.

1 F

ire D

istri

ct22

6,30

7

23

0,47

1

22

6,30

7

22

4,77

9

22

3,15

0

22

3,15

0

22

3,15

0

22

3,27

0

20

0,86

0

15

8,87

0

El

mira

No.

1 F

ire D

istri

ct76

3,01

0

74

7,00

0

73

3,00

0

72

5,00

0

71

9,00

0

70

6,00

0

69

1,40

9

69

9,00

2

65

5,70

6

62

7,57

8

W

est H

ill N

o. 3

Fire

Dis

trict

45,6

50

45,8

50

45,9

00

45,8

00

45,6

50

54,2

75

56,2

75

58,5

75

59,4

74

57,2

29

Erin

No.

1 F

ire D

istri

ct15

1,16

7

15

1,16

7

15

1,10

1

15

1,16

7

15

1,16

7

14

8,69

9

14

8,69

9

14

5,00

0

13

2,50

0

13

2,50

0

H

orse

head

s N

o. 1

Fire

Dis

trict

60,5

74

58,5

13

57,0

56

56,2

13

54,7

42

54,7

42

53,6

69

53,6

69

52,6

16

52,8

40

Pine

City

Fire

Dis

trict

159,

475

156,

225

152,

787

152,

021

150,

917

150,

414

148,

177

144,

056

135,

981

131,

000

Web

bs M

ills N

o. 4

Fire

Dis

trict

161,

210

158,

205

155,

867

154,

939

153,

877

151,

603

149,

363

146,

463

143,

562

144,

000

Tot

al s

peci

al d

istri

cts

5,49

6,36

2

5,43

8,33

6

5,15

9,39

1

5,11

6,23

0

5,05

3,66

8

4,99

9,77

9

4,68

8,40

8

4,84

4,89

0

4,69

1,39

5

4,48

0,24

3

SCH

OO

L D

ISTR

ICTS

Elm

ira H

eigh

ts S

choo

l Dis

trict

7,81

1,47

0

7,63

2,30

6

7,44

6,24

0

7,40

3,25

5

7,43

3,95

4

7,44

0,66

6

6,99

7,71

5

6,73

6,13

8

5,06

8,54

9

5,00

4,20

2

Elm

ira C

ity S

choo

l Dis

trict

33,4

69,6

21

32,7

91,6

82

32,8

16,5

64

32,7

17,4

27

32,5

14,5

08

32,5

66,7

10

30,7

97,8

51

30,0

22,0

59

20,8

30,3

37

20,5

59,7

57

Hor

sehe

ads

Cen

tral S

choo

l Dis

trict

37,2

74,1

16

36,0

91,7

94

35,2

53,5

20

35,2

81,2

07

35,2

94,8

16

29,4

83,1

08

33,5

48,9

41

32,4

41,6

75

25,7

77,8

57

25,0

23,9

08

Tot

al s

choo

ls d

istri

cts

78,5

55,2

07

76,5

15,7

82

75,5

16,3

24

75,4

01,8

89

75,2

43,2

78

69,4

90,4

84

71,3

44,5

07

69,1

99,8

72

51,6

76,7

43

50,5

87,8

67

Tota

l Cou

nty-

Wid

e Ta

x Le

vy15

1,81

5,53

5$

14

9,60

2,19

9$

14

2,26

3,83

2$

14

1,11

8,20

7$

14

0,34

5,53

0$

13

3,33

8,17

9$

13

1,90

3,36

1$

12

8,53

6,98

3$

11

1,34

4,51

4$

10

9,06

1,88

5$

Tota

l Dire

ct O

verla

ppin

g Ta

x R

ate

Per $

1,00

034

.74

$

34.3

6$

32

.76

$

34.0

0$

33

.14

$

34.0

4$

34

.51

$

33.3

0$

28

.78

$

28.9

5$

Not

e: F

ull v

alue

ass

essm

ent f

rom

the

New

Yor

k St

ate

Offi

ce o

f Rea

l Pro

perty

Tax

Ser

vice

. Th

e va

rious

tax

levi

es a

re o

btai

ned

from

the

KVS

Tax

Col

lect

ion

Syst

em.

INA

- Inf

orm

atio

n no

t ava

ilabl

e

CO

UN

TY O

F C

HEM

UN

G -

STA

TE O

F N

EW Y

OR

KR

even

ue C

apac

ityPr

oper

ty T

ax L

evie

s an

d Fu

ll Va

lue

Ass

essm

ent

- 107

-

2019

2010

Larg

est T

axpa

yers

Ass

esse

d A

sses

sed

Valu

ePr

oper

ty T

axes

Ran

kVa

lue

Prop

erty

Tax

esR

ank

New

Yor

k St

ate

Elec

tric

& G

as16

4,91

5,36

0$

1,

969,

130

$

1

133,

073,

556

$

1,40

6,87

9$

2G

&I IX

Em

pire

Big

Fla

ts L

LC52

,207

,600

62

1,30

9

2

35

,844

,400

47

3,76

0

4

Arno

t Rea

lty C

orp

38,2

16,2

00

543,

012

3

58,2

85,0

00

737,

007

3D

omin

ion

Ener

gy T

rans

mis

sion

40,6

07,7

74

406,

590

4

Mille

nniu

m P

ipel

ine

77,5

46,3

11

253,

418

5

CVS

Car

emar

k 54

,684

,620

24

3,71

8

6

36

,961

,800

2,

707

10G

reen

ridge

Apa

rtmen

ts L

LC15

,439

,400

17

7,90

4

7

15

,309

,975

17

0,29

7

7

Wes

tco

Cor

ning

LLC

14,7

00,6

00

156,

021

8

Wal

Mar

t Rea

l Est

ate

11,7

73,5

00

142,

899

9

Arno

t Ass

ocia

tes

II, L

LC10

,960

,500

13

7,99

9

10

Talis

man

Ene

rgy

USA

13

5,23

7,38

4

1,

738,

760

1

Veriz

on N

ew Y

ork

Inc

15,5

10,2

89

339,

033

5Vu

lcra

ft of

NY

17,7

84,8

33

220,

658

6Pe

nnsy

vlan

ia L

ines

LLC

9,55

2,86

1

85,0

75

9D

DR

Hor

sehe

ads

5,70

0,00

0

138,

307

8

Tot

al a

sses

sed

valu

e48

1,05

1,86

5$

4,

652,

000

$

46

3,26

0,09

8$

5,

312,

483

$

Not

e: V

alue

s ob

tain

ed fr

om N

YS R

eal P

rope

rty T

ax S

yste

m F

ile R

PS16

0D1

for 2

019.

CO

UN

TY O

F C

HEM

UN

G -

STA

TE O

F N

EW Y

OR

KR

even

ue C

apac

ityTo

p Te

n Ta

xpay

ers

- 108

-

2019

2018

2017

2016

2015

2014

2013

2012

2011

2010

Cou

nty

35,4

72,8

32$

35,4

07,6

25$

34,5

98,0

97$

34,8

68,6

78$

34,7

36,3

90$

34,3

95,0

68$

34,6

77,9

85$

33,7

80,0

60$

34,3

01,0

28$

33,5

79,8

79$

Loca

l Spe

cial

Dis

trict

s5,

496,

362

5,

438,

336

5,

159,

391

5,

116,

230

5,

053,

668

4,

999,

779

4,

688,

408

4,

844,

890

4,

691,

395

4,

480,

243

R

elev

ied

Scho

ol a

nd V

illage

Tax

es2,

780,

938

2,

561,

015

2,

576,

324

2,

608,

458

2,

715,

392

2,

620,

516

3,

058,

279

3,

201,

960

2,

561,

966

2,

798,

516

To

wns

9,57

1,35

9

9,42

3,03

8

7,33

2,53

4

7,15

6,35

2

7,19

4,14

9

7,04

2,62

2

6,94

0,53

1

7,10

2,00

7

7,07

4,43

7

7,20

3,44

7

Tota

l Lev

y53

,321

,491

$

52

,830

,014

$

49

,666

,346

$

49

,749

,718

$

49

,699

,599

$

49

,057

,985

$

49

,365

,203

$

48

,928

,917

$

48

,628

,826

$

48

,062

,085

$

Amou

nt C

olle

cted

by

Dec

embe

r 31

50,1

10,0

81$

50,0

95,5

18$

46,9

63,4

32$

47,6

23,9

74$

47,5

28,4

42$

48,8

61,1

90$

47,0

20,2

54$

46,8

65,2

33$

46,0

11,5

97$

43,6

46,8

62$

Perc

enta

ge C

olle

cted

93.9

8%94

.82%

94.5

6%95

.73%

95.6

3%99

.60%

95.2

5%95

.78%

94.6

2%90

.81%

Amou

nt C

olle

cted

in S

ubse

quen

t Yea

rs36

2,34

4$

37

8,05

9$

28

2,88

3$

25

7,80

9$

28

4,79

7$

41

5,81

3$

1,

975,

452

$

1,

790,

276

$

2,

371,

519

$

4,

149,

442

$

Tota

l Col

lect

ed to

Dat

e50

,472

,425

$

50

,473

,577

$

47

,246

,315

$

47

,881

,783

$

47

,813

,239

$

49

,277

,003

$

48

,995

,706

$

48

,655

,509

$

48

,383

,116

$

47

,796

,304

$

Pe

rcen

tage

Col

lect

ed94

.66%

95.5

4%95

.13%

96.2

5%96

.20%

100.

45%

99.2

5%99

.44%

99.4

9%99

.45%

Not

e: C

ount

y, lo

cal s

peci

al d

istri

cts,

and

rele

vied

and

villa

ge ta

x am

ount

s ob

tain

ed fr

om th

e KV

S Ta

x C

olle

ctio

n Sy

stem

. Am

ount

s co

llect

ed b

y D

ecem

ber 3

1 an

d in

sub

sequ

ent y

ears

obt

aine

d fro

m K

VS T

ax C

olle

ctio

n Sy

stem

.Su

bseq

uent

Yea

rs in

fo. i

s pa

ymen

ts in

firs

t 60

days

of i

mm

edia

te p

rece

edin

g ye

ar.

CO

UN

TY O

F C

HEM

UN

G -

STA

TE O

F N

EW Y

OR

KR

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- 109

-

2019 2018 2017 2016 2015 2014 2013 2012 2011 2010

Sales Tax ReceiptsCounty share 45,781,859$ 45,265,750$ 41,503,408$ 38,874,550$ 38,939,638$ 37,074,550$ 35,807,281$ 37,352,401$ 38,020,050$ 36,260,393$ City, towns and villages share 16,696,112 15,798,376 15,676,640 16,421,485 17,888,954 22,064,730 21,259,368 22,197,000 22,617,030 21,591,229 Total Receipts 62,477,971$ 61,064,126$ 57,180,048$ 55,296,035$ 56,828,592$ 59,139,280$ 57,066,649$ 59,549,401$ 60,637,080$ 57,851,622$

Quarter 1Agriculture, Forestry, Fishing and Hunting 72,758$ 154,420$ 126,980$ 137,554$ 95,090$ 89,479$ 108,466$ 82,933$ 48,135$ 56,098$ Mining, Quarrying, and Oil and Gas Extraction 491,855 778,018 395,421 360,472 1,812,488 583,231 650,826 827,993 11,097,838 2,217,238 Utilities 12,264,367 11,049,989 10,700,208 9,898,383 11,349,128 12,096,723 9,154,056 8,392,047 10,754,573 10,096,624 Construction 2,478,476 2,313,732 2,273,571 2,152,765 1,785,469 2,222,568 1,809,469 1,751,748 1,934,418 1,748,866 Manufacturing 4,927,753 4,261,908 4,546,667 3,885,728 4,473,499 5,767,360 6,677,774 8,658,666 8,361,622 6,482,839 Wholesale Trade 8,318,963 7,685,750 7,858,626 10,986,726 6,849,327 9,001,483 7,356,638 8,091,658 7,677,738 6,128,244 Retail Trade 114,852,258 116,098,036 105,849,478 102,416,009 106,096,705 105,338,248 107,815,908 108,257,826 105,986,873 98,060,538 Transportation and Warehousing 974,769 1,150,436 757,892 602,352 1,293,113 1,276,234 1,127,544 397,482 522,923 332,058 Information 6,278,180 7,334,577 7,532,489 7,309,250 7,625,350 7,665,759 6,418,346 6,107,907 5,951,457 5,859,166 Finance and Insurance 369,344 283,925 346,597 272,874 295,957 245,208 217,669 815,440 329,647 391,289 Real Estate and Rental and Leasing 4,114,655 3,916,737 3,386,245 3,328,733 3,844,964 4,313,148 4,020,805 3,878,882 3,498,129 3,151,019 Professional, Scientific, and Technical Services 1,705,298 1,332,721 1,181,898 1,230,932 1,286,813 1,194,664 1,244,001 1,197,304 1,702,739 1,447,568 Management of Companies and Enterprises 55,341 105,714 118,774 92,141 86,399 70,150 71,530 162,866 141,677 29,505 Administrative and Support and Waste Management and Remediation Services 3,340,531 3,036,430 2,728,540 2,854,949 2,677,173 2,549,953 2,370,041 2,708,556 2,536,081 2,306,761 Educational Services 80,994 85,472 57,228 86,851 95,923 99,811 87,511 74,820 84,800 90,020 Health Care and Social Assistance 233,737 254,853 267,671 268,820 267,657 247,907 246,489 251,221 201,036 233,123 Arts, Entertainment, and Recreation 621,142 599,654 551,958 585,291 552,599 510,604 552,200 573,209 530,476 623,262 Accommodation and Food Services 19,947,835 18,566,945 17,971,817 17,904,338 17,394,863 17,264,185 16,505,531 17,916,843 16,976,317 16,108,316 Other Services (except Public Administration) 4,518,278 4,225,200 3,981,820 3,956,208 7,950,682 7,567,210 9,719,034 4,499,255 4,074,188 3,455,423 Public Administration 4,942,587 19,968 347 - 67 129,280 58,218 - 164 970 Total Sales 190,589,121$ 183,254,485$ 170,634,227$ 168,330,376$ 175,833,266$ 178,233,205$ 176,212,056$ 174,646,656$ 182,410,831$ 158,818,927$

Quarter 2Agriculture, Forestry, Fishing and Hunting 81,292$ 95,633$ 53,143$ 78,429$ 73,165$ 76,690$ 58,376$ 63,957$ 41,934$ 37,540$ Mining, Quarrying, and Oil and Gas Extraction 1,074,956 992,249 755,443 653,239 1,315,796 1,975,712 1,332,010 2,399,299 4,594,237 2,312,340 Utilities 10,597,385 9,101,869 8,764,369 8,048,863 8,728,054 8,348,134 7,747,021 6,514,420 7,559,349 8,686,226 Construction 2,790,577 2,738,298 2,320,093 1,933,846 2,003,385 2,475,850 1,912,231 1,554,949 2,528,445 1,834,691 Manufacturing 6,362,097 4,695,765 4,980,523 4,843,068 4,911,027 5,981,007 6,640,039 6,563,287 8,820,664 7,714,401 Wholesale Trade 8,092,429 8,134,153 7,788,753 11,035,318 7,915,940 8,741,444 8,276,302 8,403,279 8,340,953 6,693,956 Retail Trade 118,175,099 120,596,700 108,183,172 103,826,650 109,565,319 108,606,326 108,293,879 108,270,634 109,110,440 101,062,123 Transportation and Warehousing 887,112 1,156,527 1,176,097 765,789 1,394,442 1,906,242 1,170,485 916,558 936,838 493,454 Information 7,497,382 7,158,397 7,822,979 7,531,282 7,311,603 7,191,191 5,954,506 6,045,865 6,098,487 5,996,124 Finance and Insurance 351,941 453,168 306,622 301,697 241,858 212,261 230,060 241,657 520,141 459,275 Real Estate and Rental and Leasing 5,050,101 4,441,933 4,168,593 4,005,983 3,984,114 4,585,457 4,226,974 4,227,253 4,160,274 4,528,365 Professional, Scientific, and Technical Services 1,752,497 1,439,637 1,192,103 1,155,785 1,238,571 1,264,192 1,214,706 1,104,404 1,229,599 1,360,331 Management of Companies and Enterprises 68,502 88,904 106,171 66,125 104,161 68,080 69,488 68,897 156,733 129,490 Administrative and Support and Waste Management and Remediation Services 6,196,471 3,581,683 3,479,954 3,135,632 2,959,252 2,936,763 2,706,749 2,786,772 2,725,137 2,481,936 Educational Services 49,353 58,819 78,586 72,868 125,184 118,604 65,805 94,477 105,055 119,255 Health Care and Social Assistance 261,022 242,870 269,727 301,855 319,770 235,605 250,130 245,593 207,983 183,912 Arts, Entertainment, and Recreation 670,690 893,301 896,076 874,920 871,209 847,392 868,294 871,886 881,712 937,957 Accommodation and Food Services 20,911,979 20,893,746 19,586,738 19,621,584 18,794,888 18,722,486 18,253,298 18,463,092 18,877,216 17,568,724 Other Services (except Public Administration) 4,690,912 4,650,353 3,988,947 3,948,203 8,395,820 8,363,459 9,111,648 4,533,884 4,195,899 3,855,809 Public Administration 5,527,720 23,832 798 270 661 5 8,743 33 2,643 1,447 Total Sales 201,089,517$ 191,437,837$ 175,918,887$ 172,201,406$ 180,254,219$ 182,656,900$ 178,390,744$ 173,370,196$ 181,093,739$ 166,457,356$

Quarter 3Agriculture, Forestry, Fishing and Hunting 80,507$ 87,370$ 92,362$ 47,050$ 80,994$ 63,801$ 92,660$ 54,647$ 32,609$ 38,026$ Mining, Quarrying, and Oil and Gas Extraction 1,265,184 1,023,919 575,713 642,179 1,082,339 3,146,587 2,572,847 1,765,135 4,676,078 7,498,933 Utilities 10,969,146 9,286,303 9,239,448 8,333,692 8,883,737 7,721,083 8,111,272 7,222,325 10,408,884 9,398,944 Construction 2,682,635 2,500,378 2,370,577 1,935,081 2,348,166 2,025,295 2,181,999 2,002,709 2,260,843 1,499,713 Manufacturing 6,539,518 5,541,573 4,412,899 4,643,684 5,462,539 5,609,737 6,612,308 5,812,235 9,019,742 7,703,787 Wholesale Trade 8,629,246 8,531,631 7,852,580 10,504,430 7,793,560 8,615,954 9,035,298 8,876,425 8,852,710 7,288,742 Retail Trade 119,290,501 120,294,927 110,430,974 104,522,909 106,291,556 110,107,339 104,254,194 107,731,095 109,389,680 103,359,842 Transportation and Warehousing 799,509 964,356 1,135,361 734,820 561,879 2,111,921 1,498,062 1,293,037 676,018 369,374 Information 7,359,341 7,370,570 7,723,928 7,661,892 7,967,857 7,583,705 6,078,633 5,997,507 5,948,846 5,939,324 Finance and Insurance 398,347 352,976 320,368 263,614 245,561 240,964 208,134 436,170 659,713 513,957 Real Estate and Rental and Leasing 4,489,168 4,179,569 3,755,118 3,187,102 3,549,375 4,132,827 3,700,376 3,596,694 4,149,179 3,581,627 Professional, Scientific, and Technical Services 1,865,222 1,528,979 1,262,379 1,377,867 1,303,933 1,155,965 1,277,835 1,469,593 1,350,371 1,851,255 Management of Companies and Enterprises 101,924 163,990 107,546 288,675 172,418 126,533 194,771 139,681 190,586 147,480 Administrative and Support and Waste Management and Remediation Services 3,489,740 3,393,106 3,117,126 2,860,043 2,677,514 2,647,217 2,538,900 2,722,358 2,787,261 2,237,683 Educational Services 121,240 106,364 93,654 74,966 103,864 106,445 133,544 136,669 160,769 126,494 Health Care and Social Assistance 274,281 242,448 231,831 270,512 277,886 241,148 243,328 230,367 245,790 202,260 Arts, Entertainment, and Recreation 581,958 545,916 597,080 564,870 564,323 491,844 529,583 507,817 526,228 581,117 Accommodation and Food Services 19,362,195 18,758,049 18,620,701 17,950,180 16,798,104 17,501,092 16,398,358 16,111,700 17,857,350 16,062,287 Other Services (except Public Administration) 4,736,752 4,432,024 3,441,858 436,743 6,827,633 7,013,323 7,147,675 7,752,328 4,206,405 3,808,594 Public Administration 4,162,486 129,501 16 637 11 - 12,553 127,045 109 1,369 Total Sales 197,198,900$ 189,433,949$ 175,381,519$ 166,300,946$ 172,993,249$ 180,642,780$ 172,822,330$ 173,985,537$ 183,399,171$ 172,210,808$

Quarter 4Agriculture, Forestry, Fishing and Hunting 181,117$ 196,858$ 165,188$ 133,207$ 160,865$ 153,561$ 132,889$ 164,609$ 179,005$ 135,707$ Mining, Quarrying, and Oil and Gas Extraction 389,030 565,315 289,574 349,463 543,191 3,299,359 399,368 1,427,455 2,678,283 11,092,614 Utilities 16,704,180 15,185,293 13,595,801 11,726,415 11,664,534 12,308,376 12,874,803 11,012,643 9,950,821 14,798,832 Construction 2,393,928 2,465,527 3,233,911 2,321,005 2,013,097 2,281,951 2,179,474 2,080,108 1,977,059 1,723,657 Manufacturing 6,254,630 4,934,915 4,568,319 4,300,811 4,604,566 4,795,303 8,580,411 5,281,476 11,206,863 8,601,323 Wholesale Trade 7,588,223 6,750,658 7,359,881 8,907,623 6,906,491 7,030,379 8,842,188 7,514,487 8,109,303 7,249,156 Retail Trade 116,058,175 114,580,598 109,906,242 106,656,082 105,561,122 108,309,596 107,892,837 111,743,822 119,030,402 110,593,833 Transportation and Warehousing 526,091 752,235 930,416 808,029 700,753 1,867,683 740,677 725,478 496,289 390,349 Information 8,419,338 8,240,282 7,726,765 7,744,255 6,248,021 7,808,211 6,471,908 6,376,199 6,427,119 5,836,479 Finance and Insurance 420,725 385,239 327,227 255,592 282,109 254,611 211,430 186,316 1,001,800 513,314 Real Estate and Rental and Leasing 3,852,507 4,428,288 3,329,038 3,239,103 3,556,409 3,368,828 2,618,719 3,553,398 3,798,530 3,100,429 Professional, Scientific, and Technical Services 1,890,293 1,552,511 1,621,001 1,528,002 1,353,422 1,670,343 1,435,532 1,286,363 1,510,695 2,089,966 Management of Companies and Enterprises 89,088 117,147 200,241 178,738 233,670 144,876 128,917 156,167 240,517 274,094 Administrative and Support and Waste Management and Remediation Services 3,264,978 3,206,847 3,196,619 2,813,472 2,922,545 2,782,322 2,419,070 2,517,197 2,759,458 2,425,072 Educational Services 120,868 128,966 116,288 109,851 128,956 120,402 165,972 143,329 136,389 146,381 Health Care and Social Assistance 271,273 248,293 297,121 327,183 349,836 304,670 281,272 308,810 285,807 244,961 Arts, Entertainment, and Recreation 419,405 514,941 500,178 561,964 456,897 512,418 495,971 580,253 522,604 535,425 Accommodation and Food Services 18,165,888 17,718,198 17,124,080 17,061,629 16,762,762 16,377,193 15,292,783 15,542,387 17,666,702 15,777,764 Other Services (except Public Administration) 4,456,566 4,541,690 4,726,002 3,922,708 6,990,668 6,666,963 6,848,581 6,939,798 4,596,382 4,344,811 Public Administration 3,461,912 72,963 18,721 15,360 13,777 13,229 75,417 109,210 14,597 22,604 Total Sales 194,928,215$ 186,586,764$ 179,232,613$ 172,960,492$ 171,453,691$ 180,070,274$ 178,088,219$ 177,649,505$ 192,588,625$ 189,896,771$

Notes:

COUNTY OF CHEMUNG - STATE OF NEW YORKRevenue Capacity

Sales Tax Receipts and Quarterly Sales by Type

Sales - Sales are reported by quarter from the New York State Office of the Comptroller. The NYS OSC's fiscal year end is September 30. Therefore, quarterly sales are presented as follows: Quarter 1 - March (Previous Year) - May; Quarter 2 - June - August; Quarter 3 - September - November; Quarter 4 - December - February (Following Year).

- 110 -

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- 111

-

General Total Percentage *Fiscal Obligation Refunding Primary of Full Value PerYear Bonds Bonds Government Assessment Capita2010 46,222,169$ -$ 46,222,169$ 1.23% 520.38 2011 44,262,518$ 5,573,520$ 49,836,038$ 1.29% 561.07 2012 42,019,069$ 6,674,992$ 48,694,061$ 1.26% 547.67 2013 38,210,154$ 12,541,502$ 50,751,656$ 1.33% 573.43 2014 39,813,342$ 11,076,496$ 50,889,838$ 1.30% 589.06 2015 42,158,959$ 9,149,937$ 51,308,896$ 1.21% 597.17 2016 44,505,431$ 7,428,340$ 51,933,771$ 1.25% 623.59 2017 33,186,238$ 20,007,069$ 53,193,307$ 1.22% 638.70 2018 37,834,858$ 15,773,206$ 53,608,064$ 1.23% 649.41 2019 40,690,657$ 12,865,000$ 53,555,657$ 1.23% 660.00

Note:

* * The County's population per the 2010 Census was 88,824. This population was used for the 2010 and 2011 per capita calculation. The County's population per the 2012 Census Bureau was 88,911, which was used for the 2012 per capita calculation. The County's population for each subsequent year is beased on US Census Bureau estimated population for Chemung County, and that estimated population per year was used for the respective per capita calculation.

COUNTY OF CHEMUNG - STATE OF NEW YORKDebt Capacity

Ratio of General Bonded Debt Outstanding

General Bonded Debt Outstanding

Details regarding the County's outstanding debt can be found in the notes to the financial statements. Fullvalue assessment from the New York State Office of Real Property Tax Service.

- 112 -

Total Applicable Percent of Reporting Debt Exempt Overlapping OverlappingYear End Outstanding Debt Debt Debt

City of Elmira 12/31/2018 34,799,969$ 8,779,864$ 26,020,105$ 75%Town of Big Flats 12/31/2018 2,455,000 420,000 2,035,000 83%Town of Catlin 12/31/2018 590,753 504,871 85,882 15%Town of Chemung 12/31/2018 - - - 0%Town of Elmira 12/31/2018 198,500 - 198,500 100%Town of Erin 12/31/2018 22,156 - 22,156 100%Town of Horseheads 12/31/2018 494,051 494,051 - 0%Town of Van Etten 12/31/2018 326,666 - 326,666 100%Town of Veteran 12/31/2018 48,002 48,002 - 0%

Elmira Heights Central School District 6/30/2019 13,510,000 - 13,510,000 100%Elmira City School District 6/30/2019 82,370,000 - 82,370,000 100%Horseheads Central School District 6/30/2019 35,730,000 - 35,730,000 100%

Village of Elmira Heights 5/31/2019 540,784 - 540,784 100%Village of Wellsburg 5/31/2019 885,910 885,910 - 0%Village of Horseheads 5/31/2019 INA INA INA INA

Big Flats No. 1 Fire District 12/31/2018 220,000 - 220,000 100%Big Flats No. 2 Fire District 12/31/2018 - - - 0%Chemung No. 1 Fire District 12/31/2018 - - - 0%Erin No. 1 Fire District 12/31/2018 317,030 111,874 205,156 65%Horseheads No. 1 Fire District 12/31/2018 - - - 0%Pine City Fire District 12/31/2018 193,298 - 193,298 100%Webb Mills No. 4 Fire District 12/31/2018 89,506 89,506 - 0%

Subtotal other governmental overlapping debt 172,791,625 11,334,078 161,457,547

County direct debt 12/31/2019 44,978,594 - 44,978,594 100%

Total direct and overlapping debt 217,770,219$ 11,334,078$ 206,436,141$

Note:

Direct and Overlapping Governmental Activities Debt

COUNTY OF CHEMUNG - STATE OF NEW YORKDebt Capacity

Overlapping governments are those that coincide, at least in part, with the geographic boundaries of the County. This schedule estimates the portion of the outstanding debt of those overlapping governments that is borne by the residents and businesses of Chemung County. This process recognized that, when considering the County's ability to issue and re-pay long-term debt, the entire debt burden borne by the residents and business should be taken into account. However, this does not imply that every taxpayer is a resident, and therefore responsible for repaying the debt, of each overlapping government. The debt outstanding was obtained from select data provided on the NYS Comptroller's website. Total debt outstanding excludes enterprise fund bonds. Exempt debt of the County represents funds available for debt service repayments and was obtained from the Comptrollers Office.

- 113 -

2019

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3,54

3$

27

7,40

4,08

2$

26

7,21

0,93

4$

26

0,63

8,45

7$

25

3,72

1,97

2$

24

2,90

1,73

3$

23

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l deb

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- ex

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00

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$

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sed

14.5

1%15

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14.9

5%14

.69%

15.5

9%15

.19%

Not

e: F

ive

year

ave

rage

full

valu

atio

n am

ount

s ob

tain

ed fr

om th

e N

ew Y

ork

Stat

e C

ompt

rolle

rs O

ffice

.

CO

UN

TY O

F C

HEM

UN

G -

STA

TE O

F N

EW Y

OR

KD

ebt C

apac

ityLe

gal D

ebt M

argi

n In

form

atio

n

- 114

-

Per Capita TotalFiscal Personal Personal Full ValueYear Population Income Income Assessment County NYS US2010 * 88,824 34,104$ 3,029,253,696$ 3,767,147,734$ 8.80% 8.60% 8.50%2011 * 88,824 35,752$ 3,175,635,648$ 3,868,742,067$ 8.80% 8.80% 8.20%2012 * 88,911 36,860$ 3,277,259,460$ 3,859,565,921$ 9.30% 8.20% 7.80%2013 * 88,506 36,045$ 3,190,198,770$ 3,822,056,065$ 7.00% 6.60% 6.70%2014 * 88,506 39,096$ 3,460,230,576$ 3,917,370,439$ 6.10% 5.80% 5.60%2015 * 88,681 38,897$ 3,449,424,857$ 4,235,348,495$ 6.00% 4.80% 4.90%2016 * 86,322 39,569$ 3,415,675,218$ 4,150,683,572$ 5.70% 4.80% 4.70%2017 * 85,557 33,265$ 2,846,053,605$ 4,343,185,550$ 5.50% 4.60% 4.10%2018 * 84,254 27,209$ 2,292,467,086$ 4,353,891,754$ 4.70% 4.10% 3.90%2019 * 83,456 28,115$ 2,346,365,440$ 4,370,084,681$ 4.20% 4.00% 3.50%

Note:

COUNTY OF CHEMUNG - STATE OF NEW YORKDemographic and Economic Information

Unemployment

* The County's population per the 2010 Census was 88,824. This population was used for the 2010 and 2011 per capita calculation. The County's population per the 2012 Census Bureau was 88,911, which was used for the 2012 per capita calculation. The County's population for each subsequent year is based on US Census Bureau estimated population for Chemung County, and that estimated population per year was used for the respective per capita calculation.

Full value assessment from the New York State Office of Real Property Tax Service. Personal income amounts and county, state, and US unemployment rates obtained from the NYS Department of Labor.

- 115 -

2019

2018

2017

2016

2015

2014

2013

2012

2011

2010

FULL

TIM

E EQ

UIV

ALE

NT

POSI

TIO

NS

Gen

eral

gov

ernm

ent

155

15

2

152

12

9

127

12

3

123

12

4

120

12

2

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ic s

afet

y19

3

187

18

7

187

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8

187

19

3

193

19

6

195

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74

70

71

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52

53

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83

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82

85

83

84

82

87

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onom

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ppor

tuni

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evel

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426

42

1

414

40

9

408

40

4

434

42

7

423

42

9

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ture

and

recr

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9

9

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9

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8

8

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- Inf

orm

atio

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ilabl

e

Not

e: In

form

atio

n ob

tain

ed fr

om v

ario

us s

ourc

es in

clud

ing:

the

Cou

nty

payr

oll s

yste

m, C

ount

y Bo

ard

of E

lect

ions

, Cha

rgeb

ack

paym

ent p

rogr

am, M

ATH

, CC

Tra

nsit,

and

var

ious

Cou

nty

depa

rtmen

ts.

CO

UN

TY O

F C

HEM

UN

G -

STA

TE O

F N

EW Y

OR

KO

pera

ting

Info

rmat

ion

Cou

nty

Gov

ernm

ent F

ull T

ime

Equi

vale

nts

and

Oth

er In

form

atio

n

- 116

-

2019

2018

2017

2016

2015

2014

2013

2012

2011

2010

Func

tion:

*

Publ

ic s

afet

y:Em

erge

ncy

911

com

man

d ce

nter

11

11

11

11

11

Cou

nty

jail

11

11

11

11

11

Hea

lth:

Che

mun

g C

ount

y N

ursi

ng F

acilit

y (H

ealth

Dep

artm

ent)

11

11

11

11

11

Tran

spor

tatio

n:M

iles

of ro

ads

(lane

mile

s)49

549

449

449

449

6IN

AIN

AIN

AIN

AIN

AH

ighw

ay m

aint

enan

ce fa

cilit

y1

11

11

11

11

1

Cul

ture

and

recr

eatio

nPa

rks

33

33

33

33

33

Hom

e an

d co

mm

unity

ser

vice

s:M

iles

of s

anita

ry s

ewer

284

267

267

267

267

INA

INA

INA

INA

INA

Mile

s of

sto

rm s

ewer

32

22

2IN

AIN

AIN

AIN

AIN

APu

mpi

ng s

tatio

ns34

3434

3434

3434

3434

34

Sour

ce: V

ario

us C

ount

y de

partm

ents

* No

capi

tal a

sset

indi

cato

rs a

re a

vaila

ble

for g

ener

al g

over

nmen

t sup

port,

edu

catio

n an

d ec

onom

ic a

ssis

tanc

e fu

nctio

ns.

INA

- Inf

orm

atio

n no

t ava

ilabl

e

CO

UN

TY O

F C

HEM

UN

G -

STAT

E O

F N

EW Y

OR

KO

pera

ting

Info

rmat

ion

Cap

ital A

sset

Sta

tistic

s by

Fun

ctio

n

- 117

-

Estim

ated

% o

f Tot

alEs

timat

ed%

of T

otal

Empl

oyer

Indu

stry

Empl

oym

ent

Empl

oym

ent

Empl

oym

ent

Empl

oym

ent

1Ar

not H

ealth

, Inc

.H

ealth

care

Ser

vice

s2,

300

6.57

%1,

400

3.37

%

2C

VS C

arem

ark

Cor

pora

tion

Ret

ail H

ealth

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e (D

istri

butio

n C

ente

r)50

01.

43%

-

0.

00%

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illiar

d C

orpo

ratio

nM

anuf

actu

ring

Mac

hine

ry a

nd F

ilter

Sys

tem

s45

01.

29%

350

0.

84%

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ayfa

irN

atio

nal H

ome

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ishi

ns e

-com

mer

ce

450

1.29

%-

0.00

%

5D

ePuy

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opae

dics

, Inc

.M

anuf

actu

ring

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ical

400

1.14

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0

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%

6H

ardi

nge,

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Man

ufac

turin

g M

achi

nery

400

1.14

%35

0

0.84

%

7C

AF U

SA, I

nc.

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ufac

turin

g Tr

ains

350

1.00

%-

0.00

%

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nned

y Va

lve

Com

pany

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ufac

turin

g W

ater

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ves

and

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rant

s30

00.

86%

400

0.

96%

9N

avie

nt

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er (C

redi

t Rec

over

y)30

00.

86%

300

0.

72%

10C

hem

ung

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al

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ncia

l Ser

vice

s 30

00.

86%

300

0.

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Tota

l Ten

Lar

gest

Em

ploy

ers

5,

750

16.4

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8.41

%

Estim

ated

Cou

nty-

Wid

e Fu

ll Ti

me

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35,0

00

*41

,600

*

Not

es:

*In

form

atio

n ob

tain

ed fr

om th

e N

ew Y

ork

Stat

e D

epar

tmen

t of L

abor

.

Not

e: E

stim

ated

em

ploy

men

ts fi

gure

s sh

own

wer

e ob

tain

ed fr

om S

outh

ern

Tier

Eco

nom

ic G

row

th, I

nc.

Tabl

e on

ly in

clud

es th

e to

p te

n fir

ms

for t

he re

fere

nced

yea

r. If

com

pany

did

not

con

duct

bus

ines

s w

ithin

the

Cou

nty'

s re

gion

for t

he 2

010

year

, no

com

para

tive

figur

e is

pr

esen

ted.

Cer

tain

com

pani

es p

rese

nted

in th

e ab

ove

tabl

e m

ay h

ave

perfo

rmed

layo

ffs a

nd/o

r job

incr

ease

s th

at a

re n

ot re

flect

ed in

the

num

bers

pre

sent

ed h

erei

n.

CO

UN

TY O

F C

HEM

UN

G -

STAT

E O

F N

EW Y

OR

KO

pera

ting

Info

rmat

ion

Ten

Larg

est E

mpl

oyer

s

2019

2010

- 11

8 -

COUNTY OF CHEMUNG – STATE OF NEW YORK...INTRODUCTORY SECTION Letter of Transmittal I-XIX GFOA...

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Transcript of COUNTY OF CHEMUNG – STATE OF NEW YORK...INTRODUCTORY SECTION Letter of Transmittal I-XIX GFOA...