Some Local Schools Experience Moderate Fiscal Stress
New York State Comptroller Thomas DiNapoli says, while the number of school districts under fiscal stress has shrunk, there are still many districts struggling.
This is the fifth year for the ranking based on financial indicators like year-end fund balance, cash position, short-term borrowing and operating deficit patterns.
Cortland City School District, Harpursville Central Schools, Schenevus and Norwich City Schools are listed under moderate stress with Marathon, Otego-Unadilla and Oxford Academy and Central Schools listed as susceptible to Fiscal Stress. East Aurora in Erie and Eldred Central in the Mid-Hudson region are under significant stress according to the comptroller.
DiNapoli’s office say the scores are based on information submitted in each district’s “ST-3” financial report.
The rankings announced this week do not include scores for the so-called “Big Four” districts: Buffalo, Rochester, Yonkers and Syracuse.