NY updates levels of municipal financial stress

ALBANY>> New York’s comptroller reports eight municipalities were under “significant” fiscal stress last year, with low fund balances and operating deficits, while another 14 were under moderate stress and 18 were considered susceptible.

The eight are the counties of Monroe, Broome, Franklin and Rockland; the cities of Port Jervis and Albany; and the towns of Tuxedo and Parish.

Comptroller Thomas Di- Napoli says the fourth annual report shows it can be difficult for localities to overcome problems years in the making.

Each year, 19 municipalities have been designated.

The 2015 financial information was provided by nearly 1,000 municipalities whose fiscal year ended Dec. 31.

That includes the counties and towns, 44 cities and 10 villages, though 62 failed to file information in time to be scored the past three years.