ALBANY, N.Y., OCTOBER 26, 2023 – The Office of the New York State Comptroller recently recognized Livingston County for its fiscal management after issuing its latest Fiscal Stress Monitoring System results with the County ranking among the top overall governments in New York State.
“Our fiscal stress early warning system identifies potential financial problems for local governments so they can take corrective action to avoid problems down the road,” said Comptroller Thomas J. DiNapoli. “The fact that fewer local governments were in fiscal stress in fiscal year 2022 was largely due to the infusion of aid from the American Rescue Plan Act and sales tax revenue growth. Sales tax collections have leveled off in recent months and federal dollars are being spent down, so localities should plan their budgets cautiously and accordingly.”
Livingston County’s score of 3.3 resulted in “no designation” of fiscal stress from Comptroller Thomas P. DiNapoli’s Office marking the third time in the last four years that the County has achieved one of the State’s highest classifications. Scores are out of 100 and are determined using a variety of metrics. The score then correlates with one of four fiscal stress designations: significant, moderate, susceptible to and no designation. Higher scores indicate a higher level of fiscal stress. DiNapoli’s report evaluates local governments on financial indicators including year-end fund balance, cash-on-hand, short-term borrowing, fixed costs and patterns of operating deficits to create fiscal stress scores for each municipality in the state.
“The latest Fiscal Stress Monitoring System results are a reminder that Livingston County continues to practice sound budgeting and financial responsibility,” said Ian M. Coyle, Livingston County Administrator. “The County’s Board of Supervisors, Department Heads and Elected Officials have developed responsible budgets that control spending. Our citizens expect their tax dollars to be spent wisely and efficiently and our score in the Comptroller’s Fiscal Stress Monitoring System speak to those efforts.
To learn more about the fiscal stress scores or to view the scores for each reporting municipality, please visit the Office of the New York State Comptroller’s website.
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About Livingston County:
Founded in 1821, Livingston County, N.Y., is home to more than 61,000 residents in 17 towns located across 631 square miles of the Finger Lakes region.