Print
Share page with AddThis

No Fiscal Stress per NYS Office of the Comptroller

Score Resulted in "No Designation" for 3rd year in a row
Posted on: April 3, 2024 - 2:35pm
nys comptroller header

 

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:

 

 

Fiscal Stress

Environmental Stress

FYE

Score

Designation

Score

Designation

2021

27.5

No Designation

6.7

No Designation

2022

19.2

No Designation

0.0

No Designation

2023

3.3

No Designation

0.0

No Designation

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.”