State: Fiscal Stress 'Relatively Low' Among 529 Villages

Associated Press

Apr 22, 2018

The state comptroller's office says it found fiscal stress is "relatively low" among the more than 500 village governments across New York.

Comptroller Thomas DiNapoli's says his agency evaluated 529 villages and identified 10 villages as being in some level of fiscal stress.

He says Island Park was in significant fiscal stress; Andover, Ellenville, Granville and Valley Stream were in moderate fiscal stress, and Baldwinsville, Canisteo, Catskill, Walden and Dering Harbor were in susceptible fiscal stress.

The comptroller's office also looked into the finances of 17 cities across New York state. Long Beach was deemed in significant fiscal stress and Yonkers was found to be in susceptible fiscal stress.

DiNapoli says his office looks at financial indicators including year-end fund balance, cash position and patters of operating deficits.