SOUTH DAYTON – A Cattaraugus County village is among local governments highlighted under the state’s just released fiscal stress monitoring report this week.
State Comptroller Thomas DiNapoli DiNapoli evaluated all non-calendar year local governments and designated three cities and three villages in “significant fiscal stress,” one village in “moderate fiscal stress” and four villages as “susceptible to fiscal stress.”
His office says South Dayton is marked as experiencing “moderate fiscal stress.”
The system, which has been in place since 2012, assesses levels of fiscal stress in local governments using financial indicators including year-end fund balance, cash position, short-term cash-flow borrowing and patterns of operating deficits.
It generates overall fiscal stress scores, which ultimately drive final classifications. The system also analyzes separate environmental indicators to help provide insight into the health of local economies and other challenges that might affect a local government’s or school district’s finances.
This information includes population trends, poverty and unemployment.
DiNapoli’s office provides tools to assist in budget planning, which he says will continue to be especially important in light of the ongoing pandemic and the related revenue and expenditure fluctuations.