Erie County Comptroller Mark Poloncarz today issued a warning regarding the County’s cash position and urged the Erie County Fiscal Stability Authority to expeditiously complete and close a sale of cash flow revenue anticipation notes (“RAN”) on behalf of the County. Poloncarz noted that as of Thursday, September 18, 2008, the County will technically be operating in a negative cash position due to forthcoming payment obligations including, among other payments, a $42.5 million sales tax distribution payment due to local cities, towns, villages and school districts on September 30, 2008. He pointed out that without closing a RAN sale before September 30th, the County will not be able to meet various financial obligations.