Monticello, NY – The NYS Comptroller’s Office has designated Sullivan County free of fiscal stress, with the County’s finances in the best shape since reporting began.
“Prudent fiscal management by this Legislature and staff have brought us to this point,” Legislature Chairman Robert A. Doherty remarked. “Taxpayers can be confident that the dollars they give us are being managed professionally, competently and judiciously. And that kind of management has put us in excellent financial shape.”
‘No Designation’ Is the Best Designation
The Comptroller’s Office just released its 2021 Fiscal Stress rankings for municipalities Statewide, based on the annual financial reports submitted to the Office. Sullivan County scored extremely well, earning the best rank of “No Designation” (meaning there are no indications of the County being susceptible to fiscal stress at this time).
Municipalities receive a fiscal score and an environmental score. Based on the fiscal score, the system assigns a municipality to one of three categories of stress or to the “No Designation” category if its score doesn’t meet the threshold of stress. (The three categories of stress are “Significant Fiscal Stress,” “Moderate Fiscal Stress” and “Susceptible to Fiscal Stress.”)
“This latest report demonstrates we continue to maintain County government’s fiscal stability,” Sullivan County Manager Josh Potosek said. “And for the second year in a row, we also received ‘No Designation’ for environmental stress, meaning prospects are excellent for the County continuing that stability.”
A Significant Improvement in Rank
In 2019, Sullivan earned a Fiscal Stress score of 42.1 points. That improved to 35.8 in 2020 (a lower score indicating better finances) and then to a best-ever score of 13.3 in 2021. Meanwhile, the Environmental Stress score dropped from 30 in 2019 to 23.3 points in 2020, and now stands at 20 for 2021. Unlike Fiscal Stress, the data used to create the Environmental Stress score – population changes, poverty levels, tax base, unemployment rates, state/federal aid and other items – represents issues that are not fully within the County’s control.
“Along with my fellow legislators, I give credit to Josh, the Treasurer’s Office and the rest of our County personnel. They keep taxpayers in mind by safeguarding public funds and using them where appropriate,” said District 5 Legislator and Management & Budget Committee Chair George Conklin. “This ranking dramatically illustrates that point.”
To access the Comptroller’s reports for the County and other municipalities and school districts, visit www.osc.state.ny.us/localgov/fiscalmonitoring/index.htm.