Some Hudson Valley municipalities are among the most financially stressed in the state, according to a new report.
New York State Comptroller Thomas DiNapoli released a report highlighting the communities and school districts that are financially stressed, including some in Rockland and Orange counties.
DiNapoli said that he “created an early warning system for communities and school districts with fiscal problems. Alerting everyone to potential problems gives local officials and taxpayers the opportunity to be more proactive.”
The system analyzed financial indicators, which “measure key drivers of fiscal stress in local government financial operations,” and environmental indicators, which “provide insight about economic and demographic forces confronting communities— that are beyond the immediate control of local officials but might influence revenue-raising capability and the demand for certain types of services.”
In Orange County, the village of Maybrook was the only municipality to receive a designation and is under "moderate financial stress," according to the report. In Rockland, the East Ramapo School District was reported as under "susceptible to financial stress," the town of Clarkstown was under "moderate" stress and three municipalities failed to file. No other municipality received a designation.
Statewide, 11 municipalities are under "significant" financial stress. Seventeen are "susceptible" to financial stress and six are under "moderate" financial stress. The complete list can be found here.
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