New York State Comptroller Thomas DiNapoli has designated 44 municipalities across the Empire State as fiscally stressed.
DiNapoli’s latest findings for his Fiscal Stress Monitoring System announced on Sept. 23 are based on 2014 financial information provided by local governments as of Aug. 31, 2015. Fifteen localities received the most serious designation of “significant fiscal stress” including the counties of Monroe, Broome, Nassau, St. Lawrence, Franklin and Rockland; cities of Glen Cove and Albany; and towns of East Fishkill, Jasper, Ramapo, Pierrepont, Coeymans, Cherry Valley and Parish. Eleven local governments have been listed in the second highest category of “moderate fiscal stress” including Suffolk County, the cities of Poughkeepsie, Little Falls, Fulton and Glens Falls; and the towns of Hempstead, Colonie, Napoli, Saugerties, Rochester and German Flatts.
“The financial trends in some local governments have not improved over the past three years, and it is looking tougher for New York’s cities,” said DiNapoli in a statement. “While it is clear that our municipalities continue to struggle with balancing revenues against increasing costs, we also know that sensible budgeting and developing comprehensive multiyear financial plans are crucial to overcoming both current and future fiscal challenges.”
