Tupper Lake Schools – 12th on List of Fiscally Stressed Schools in New York State

The State Comptroller’s Office says the Tupper Lake’s School District budget is dealing with significant fiscal stress..  In fact, TupperLake is 12th highest on the list of schools according to the Comptroller’s Fiscal Stress Monitoring System…   According to the report, 13 percent of school districts statewide, have been designated as fiscally stressed under the Monitoring System. 674 school districts are regularly evaluated using financial indicators that include year-end fund balance, cash position and patterns of operating deficits. The system creates an overall fiscal stress score which classifies each district..  The higher the score, the more stress onteh budget…   To date, 12 school districts have been classified as in “significant fiscal stress,”23 in “moderate fiscal stress,”and 52 as “susceptible to fiscal stress.” One of the Twelve is TupperLake receiving a stress score of 65%…   Some of the schools showing good marks on their budget work include SaranacLake at 21.7%, Peru at 28.3%, Plattsburgh even better at 6.7% and Beekmantown at 13.3%.. There were no scores for Saranac or Lake Placid…

The higher the fiscal stress scores the higher the fiscal stress..  New York State Comptroller Thomas DiNapoli says school districts found to be in fiscal stress share a number of common characteristics. Most are operating with low fund balance, operating deficits and limited cash on hand. These districts were also found to have a much higher likelihood of using short-term borrowing to bridge cash flow gaps.

Fiscally stressed school districts also share a number of environmental themes, according to the report. Although many factors are outside a district’s control, they can drive additional costs or hurt the district’s ability to raise revenues. For example, fiscally stressed school districts were more likely to experience declining property values, high poverty rates and low school budget support.

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