Broome County New York Earns Perfect Fiscal Score

On September 3, 2024, an announcement was made from Broome County Executive Jason Garnar that the County of Broome had received a perfect fiscal score.

This news comes from the Fiscal Stress Monitoring Report that was released on the same day through the Office of New York State Comptroller Tom DiNapoli.

According to the announcement, the report produces a score out of 100 for each municipality in the state using a variety of metrics. The score then correlates with one of four fiscal stress designations: significant, moderate, susceptible to, or no designation. The higher the score, the higher the designation.

I’m extremely proud of the work we’ve done that has earned us a perfect fiscal score. Working with Chairman Dan Reynolds and the entire Legislature along with our Budget Director Jane St. Amour and her staff, we continue to craft responsible budgets that cut taxes, control spending, and limit borrowing. Broome County taxpayers deserve to know that their tax dollars are being used wisely and this score from the Comptroller’s Office proves that’s what we’re doing. - Broome County Executive Jason Garnar

Comptroller DiNapoli’s Office reported that a total of 14 local governments in New York State ended their fiscal year 2023 with a fiscal stress designation, the same as a year ago.

The report from Comptroller DiNapoli's Office notes that the Town of Philipstown, the City of Poughkeepsie, and the Town of Schroeppel each had a Susceptible to Financial Stress designation.

A Moderate Financial Stress designation was given to the Town of Yates, the City of Albany, the Town of Bennington, and the Town of West Turin. The City of Little Falls received a Significant Financial Stress designation, according to the report.

Comptroller DiNapoli's Office explains that the report is the result of evaluating local governments on financial indicators. This includes year-end fund balance, cash-on-hand, short-term borrowing, fixed costs, and patterns of operating deficits to create fiscal stress scores.