On Wednesday, Comptroller Tom DiNapoli released an update to his local government fiscal stress monitoring program. He has added 14 local governments, including Rockland, Suffolk, Nassau and Erie counties, to the list of those designated as fiscally stressed, for a total of 38 throughout the state.
The Comptroller’s local government monitoring system evaluates local governments on 23 financial and environmental indicators and broader demographic information like population trends and tax assessment growth to create an overall fiscal stress score.
In his statement, Comptroller DiNapoli said:
“The increased number of municipalities in fiscal stress underscores the seriousness of the challenges facing local governments. By shining a light on the financial issues confronting our municipalities, we can jumpstart 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.”