Monticello, NY – For the sixth year in a row, the NYS Comptroller’s Office has designated Sullivan County free of fiscal stress.
The Office recently released its 2020 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 latest report shows we continue to maintain County government’s fiscal stability,” Sullivan County Manager Josh Potosek said. “And for the first time, we also received ‘No Designation’ for environmental stress, meaning prospects look good for the County continuing that stability.”
In 2019, Sullivan earned a Fiscal Stress score of 42.1 points. That improved to 35.8 in 2020, a lower score being indicative of better finances. Meanwhile, the Environmental Stress score dropped from 30 in 2019 to 23.3 points in 2020, resulting in the removal of the “Susceptible to Environmental Stress” designation. 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.
“This ranking shows our residents and taxpayers that we have a great group of hardworking professionals running this County together as efficiently as possible,” remarked County Treasurer Nancy Buck, who works closely with Potosek and Budget Director Janet Young to monitor revenues and expenditures.
“Along with my fellow legislators, I give credit to Josh and our County personnel,” said District 5 Legislator and Management & Budget Committee Chair George Conklin. “They keep taxpayers in mind by safeguarding public funds and using them where appropriate.”
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.