CHENANGO – Chenango County ranks among some of the least fiscally stressed municipalities in New York, according to a report released by the Office of the State Comptroller.
On a list of 57 counties outside New York City, Chenango places fourth in terms of fiscal stress, earning a score of 6.7 percent for the 2014 fiscal year. That’s up only slightly from 3.3 percent score in 2013.
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. Stress scores are based on financial and environmental factors such as a municipality’s total fund balance, operating deficit, debt, population, and poverty and unemployment rates.