New City, NY – New York State Comptroller Thomas DiNapoli released the 2017 Fiscal Stress Monitoring System report which listed Rockland County as having “Moderate Stress” an improvement from being in the “Significant Stress” category for fiscal year 2016.
“Moving from the New York State Comptrollers “Significant Fiscal Stress” list to the “Moderate Fiscal Stress” list is yet another affirmation that Rockland County’s finances are improving. We made the hard choices and it is rewarding to see them recognized by the Comptroller’s Office,” said County Executive Ed Day.
This year’s list designated 25 municipalities across the state as fiscally stressed. The list is comprised of 10 counties, six cities and nine towns from across New York State. The overall number of municipalities listed has declined for the third straight year however, the number of governments considered to have “significant stress” more than doubled over the prior year. This makes Rockland County’s improvement even more remarkable.
“Strict budgeting, careful cost-benefit analysis and responsible long-term planning have been the cornerstones of my administration’s policies. And while we have made significant progress, we still have a long way to go until we reach full financial strength. I will continue to make the decisions necessary to keep Rockland County on a strong fiscal track,” concluded County Executive Day.
The score is based on assessments of fund balance, cash-on-hand, short -term borrowing, fixed costs and patterns of operating deficits. The report can be found here.