CHENANGO COUNTY – In terms of fiscal stress, Chenango County ranks among the top ten highest rated counties in New York State, according to a recent report received by the Chenango County Finance Committee.
The fiscal stress monitoring system, created and overseen by the New York State Comptroller’s Office, is a statewide initiative to keep municipalities out of the red. The higher the score on a fiscal stress report, the more susceptible a municipality is to potentially devastating financial burdens. Scores reported are based on financial and environmental factors such as a municipality’s total fund balance, operating deficit, debt, population, and poverty and unemployment rates.
According to the report, Chenango County earned a fiscal score of 12.9 percent for the 2012 fiscal year - welcome news, explained Chenango County Treasurer Bill Craine, because it keeps Chenango off a list of counties deemed susceptible to fiscal stress by state officials.