BINGHAMTON — Broome County recently received a perfect fiscal score, according to the Fiscal Stress Monitoring Report released by New York State Comptroller Thomas DiNapoli’s office. “I’m extremely proud of the work we’ve done that has earned us a perfect fiscal score,” Broome County Executive Jason Garnar said in a county news release announcing the […]
BINGHAMTON — Broome County recently received a perfect fiscal score, according to the Fiscal Stress Monitoring Report released by New York State Comptroller Thomas DiNapoli’s office.
“I’m extremely proud of the work we’ve done that has earned us a perfect fiscal score,” Broome County Executive Jason Garnar said in a county news release announcing the news. “Working with Chairman Dan Reynolds and the entire legislature along with our Budget Director Jane St. Amour and her staff, we continue to craft responsible budgets that cut taxes, control spending, and limit borrowing. Broome County taxpayers deserve to know that their tax dollars are being used wisely and this score from the comptroller’s office proves that’s what we’re doing.”
The comptroller’s report produces a score based on a 100-point maximum for each municipality in the state using a variety of metrics. The score then correlates with one of four fiscal stress designations — significant, moderate, susceptible to, or no designation. The higher the score, the higher the designation.
DiNapoli’s office 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.
