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New York State Comptroller Thomas DiNapoli released a report highlighting the communities and school districts that are financially stressed, including several on Long Island.
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 total, 12 municipalities were listed as under “significant financial stress,” including five on Long Island:
- Long Beach (third most stressed in the state);
- Suffolk County (fourth);
- Nassau County (sixth);
- Islandia (eighth);
- Oyster Bay (ninth).
The City of Glen Cove was designated as “susceptible,” while the villages of Island Park and Valley were designated as “moderate.”
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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