Starting in January New York Comptroller Thomas DiNapoli plans to implement a fiscal monitoring system for the state's localities. It will "calculate and publicize an overall score of fiscal stress for municipalities and school districts across the state," DiNapoli's office said in a press release.
DiNapoli will also release more comprehensive fiscal profile reports for select cities.
"The goal is to provide local officials with the tools to consider their options for turning things around before a full financial crisis develops," DiNapoli's office said. "Local governments are facing more stress today than ever before," DiNapoli said.
Reports and fiscal monitoring system will be found on his website: https://www.osc.state.ny.us/
"We believe that the comptroller's fiscal monitoring system is designed to support smaller municipalities that may not have sophisticated financial systems," wrote New York State Association of Counties deputy director Mark LaVigne.
"Due to the size of our budgets and governments, counties are likely to have more sophisticated financial processes, and therefore will have a good sense of their fiscal circumstances."