No Fiscal Stress per NYS Office of the Comptroller
The Office of the State Comptroller uses the Fiscal Stress Monitoring System to examine the annual financial information reported by our Village. This analysis provides an objective assessment of the fiscal challenges facing individual local governments and school districts, identifying situations where corrective action may be needed. These 2023 scores are based on fiscal year-end results. As of February 29, 2024, our review of the 2023 Annual Financial Report (AFR) for our Village has been completed.
The Village's fiscal stress scores and designations are summarized below: | |||||||||||||||||||||||||
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The New York State Office of the State Comptroller (OSC) developed the Fiscal Stress Test as a tool to assist governmental entities toward better understanding their historical and present economic status. According to OSC, “fiscal stress” is the “inability of an entity to generate enough revenues within the current fiscal period to meet its expenditures.”
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