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Comptroller flags fiscal stress in local governments: Four local villages fail to file with state

  • / Updated:
  • Staff Report 

New York State Comptroller Thomas P. DiNapoli has released new fiscal stress scores, highlighting six villages under varying degrees of fiscal stress. The Fiscal Stress Monitoring System identified one village in “significant fiscal stress,” one in “moderate stress,” and four as “susceptible to fiscal stress,” based on their financial reports for 2023. The Village of Saugerties faced the most severe designation, while Coxsackie, Chateaugay, Sackets Harbor, South Dayton, and Whitehall also grappled with financial pressures.

DiNapoli expressed concerns over the trend of local governments missing crucial deadlines for filing their required financial information. Approximately 20% of evaluated local governments, affecting nearly 600,000 New Yorkers, failed to submit their data on time, hindering their ability to receive a fiscal stress score. Notably, the City of Syracuse and the Village of Hempstead, among others, have been listed as non-filers for consecutive years, raising red flags about transparency and fiscal health monitoring.

Here’s a list of the villages across the Finger Lakes that did not file with state auditors:

  • Avoca, Steuben County
  • Cato, Cayuga County
  • Montour Falls, Schuyler County
  • Watkins Glen, Schuyler County

The Comptroller emphasized the importance of using the state’s self-assessment tool for local governments to better manage their budgets and avoid financial pitfalls, especially as emergency federal aid begins to taper off. The Fiscal Stress Monitoring System, established in 2012, aims to provide a clearer picture of the financial stability of New York’s local entities by analyzing a variety of financial indicators and environmental factors. DiNapoli’s office continues to urge local officials to meet filing deadlines to facilitate early detection and possible remedies for fiscal stress.

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