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The New York State Comptroller’s Fiscal Stress Monitoring System gives an early warning of fiscal stress to local government entities by analyzing financial and environmental factors such as fund balance, cash-on-hand, short-term borrowing, fixed costs and patterns of operating deficits.
With a score of 41.7 percent, Rockland was omitted from the 2018 Fiscal Stress Monitoring System report, which was released by New York State Comptroller Thomas DiNapoli on Friday, Oct. 11.
“In 2013, the County of Rockland had a score of 86.7 percent and was listed as New York State’s most fiscally stressed local government. Not being included in the 2018 report with a score of 41.7 percent is yet another affirmation that our finances are improving; the hard choices we have made are being recognized by the Comptroller’s Office,” said Rockland County Executive Ed Day.
“I truly appreciate the close partnership we have developed with the Comptroller’s Office as they have helped us navigate through this situation.”
The 2017 report cited the county as having “moderate stress,” an improvement from the previous year’s “significant stress” rating. In the 2018 report, a total of 18 municipalities statewide were designated as significantly or moderately stressed, and an additional 17 municipalities were rated as being “susceptible to fiscal stress.”
“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,” said Day. “I will continue to make the decisions necessary to keep Rockland County on a strong fiscal track.”
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