Monticello, NY – For the third year in a row, the NYS Comptroller’s Office has designated Sullivan County free of fiscal stress.
The Office recently released its 2017 Fiscal Stress rankings for municipalities and school districts statewide, based on the annual financial reports submitted to the Office. Sullivan County again scored well, earning the best rank of “No Designation” (meaning there are no indications of the County being susceptible to fiscal stress at this time).
Entities receive a fiscal score and an environmental score. Based on the fiscal score, the system assigns an entity 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 is the best fiscal score we have ever attained,” Sullivan County Manager Josh Potosek said, referring to the 12.9 points assigned to the County by the Comptroller’s Office. “And this latest report shows we’re increasing County government’s fiscal stability.”
In 2014, Sullivan was listed as being “Susceptible to Fiscal Stress” due to a combination of short-term debt and expenses, with a score over 45 points. That dropped to 36.7 in 2015, then 22.5 in 2016.
“This Fiscal Stress ranking truly shows our residents and taxpayers that we have a great group of hardworking professionals running this County as collaboratively and efficiently as possible,” remarked County Treasurer Nancy Buck, who works closely with Potosek and Management & Budget Commissioner Janet Young to monitor revenues and expenditures. “I’m pleased to note in particular that our fund balances were healthy and our short-term debt nonexistent, both of which significantly improved our score from last year.”
While the 2017 report lists Sullivan as “Susceptible to Environmental Stress” with a score of 36.7 points, Potosek pointed out that the data used to create that score (population changes, poverty levels, tax base, unemployment rates, state/federal aid and other items typically outside the County’s control) originated in 2016, before a variety of projects lifted Sullivan County into a leadership position in economic development statewide.
“I give much credit and praise to Josh and our County personnel, especially the Division of Management & Budget,” said District 1 Legislator and Management & Budget Committee Chair Scott Samuelson. “They are ever keeping the taxpayer in mind by safeguarding and constantly monitoring the use of public funds. Indeed, this is the responsibility of every County employee and elected official.”
“This latest report from the NYS Comptroller’s Office demonstrates the Legislature’s, County Manager’s and County Treasurer’s unwavering commitment to properly accounting for and using tax dollars, whether they come from the state, the federal government or our local residents and property owners,” added Legislature Chair Luis Alvarez. “And we intend to keep it that way.”
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.