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Town’s Fiscal Stress Score Improves to One of Highest on L.I.

 October 10, 2017
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Town’s Fiscal Stress Score Improves to One of Highest on L.I.

North Hempstead given best score of any Town in Nassau County

North Hempstead, NY – The Town of North Hempstead’s fiscal stress score has improved to the highest in Nassau County and the second highest on Long Island, according to data released by the Office of the New York State Comptroller (OSC). The OSC rated North Hempstead as 5% and projected the Town to be under 2% by the completion of 2017. A municipality with a lower percentage is deemed to be less susceptible to financial fiscal stress.

“I am pleased that we continue to be recognized for our financially responsible approach to providing services to the residents of our Town,” said Supervisor Bosworth. “My administration’s efforts to keep the town financially sound continues to pay dividends acknowledged by the lowering of this score and our most recent Aaa affirmation from Moody’s.”

The Office of the New York State Comptroller’s Fiscal Stress Monitoring System is designed as an early warning of fiscal stress for local governments and school districts by examining their financial information and aspects of their external environment; as well as helps to provide feedback to local leaders, State officials and taxpayers about fiscal stress conditions to help them prioritize the needs of their community, understand trade-offs and follow through with tough decisions. It has been in place by the OSC since 2013. The latest published scores are based on the 2016 financial information, according to the OSC press release.

For more information or to view the complete report please visit http://www.osc.state.ny.us/localgov/fiscalmonitoring/index.htm


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