Comptroller Tom DiNapoli updated his list of municipalities under fiscal stress, adding Nassau, Suffolk and Rockland counties to an existing list of two dozen municipalities. Erie and Schenectady counties were named as susceptible to stress.
Rockland tops the list, with a stress score of 86.7 percent. It’s fiscal problems are known: officials there asked the state for permission to borrow $96 million to bridge a deficit that some estimate could be as high as $110 million. A bill passed both houses of the Legislature, but has not yet been sent to Gov. Andrew Cuomo for review. His aides have asked county officials for more information.
“The increased number of municipalities in fiscal stress underscores the seriousness of the challenges facing local governments,” said DiNapoli. “By shining a light on the financial issues confronting our municipalities, we can jump start discussions at the state and local levels about fiscal stress so that corrective actions can be taken. There is a continued need for better long-range planning and honest conversations about how local governments operate when their regional economies, demographics and traditional revenue sources change.”
DiNapoli developed and released the stress tests this year as many municipalities, particularly Upstate, have been squeezed by declines in ………..
Source: Fiscal stress spreading in state