Across New York State, local government officials are struggling to balance budgets and revitalize their economies.

Some municipalities are depleting reserve funds and shifting costs to future years because of their growing financial challenges.

In an effort to help local officials with these economic problems, State Comptroller Tom DiNapoli has begun a fiscal stress initiative to highlight the unique environmental and systemic pressures facing our communities. 

The goal is to provide local officials with the tools to consider their options for turning things around before a full financial crisis develops.

Comptroller Thomas P. DiNapoli: "Local governments are facing more stress today than ever before. And certainly those challenges are not going to go away any time soon. Much of the public services that our citizens rely upon are delivered by local governments, so fiscal pressures on them are very, very important in terms of the possible impact on the ability of those governments to continue to provide services to our citizens."

Comptroller DiNapoli is issuing fiscal profiles in select communities across New York as well as in-depth analysis on some of the primary issues that contribute to the financial pressures on local government. 

DiNapoli's office has also implemented a fiscal monitoring system as part of his initiative.

The 'early warning system' will calculate and publicize an overall score of fiscal stress for municipalities and school districts around the state using specific financial indicators and demographic information. 

Comptroller Thomas P. DiNapoli: "It's meant to help local officials, guide them, as they deal with the budget challenges and fiscal challenges that they are facing, and it's also important for citizens in each community to understand better what the fiscal picture is. This information will be available on our website, and again, it's meant to inform a thoughtful debate."

The Comptroller's fiscal stress initiative will enable those at ground level to make appropriate financial decisions based on their individual circumstances.

Staff of the Comptroller's Office offer a number of services to help local governments get their finances back on track.

Comptroller Thomas P. DiNapoli: "Information is very, very important as we try to navigate through these tough times. And I do hope that our effort will lead to more thoughtful information, more thoughtful discussion, and easier, easier solution identification."

To learn more about Comptroller DiNapoli's fiscal stress initiatives, vista our website or contact our Division of Local Government and School Accountability.