Every year, the New York State Comptroller evaluates the “fiscal stress” of municipalities statewide through a comprehensive review of local budget trends, debt levels, fund balances, and other factors that impact short and long-term fiscal stability.
New Rochelle aced the most recent test, with a score of just 9.6 on a 100.0 scale. (Lower is better, and to put our score in perspective, you have to exceed 45.0 to be judged susceptible to stress.) Here’s the full breakdown.
Congratulations to the City’s management team for their consistently responsible oversight of our municipal finances. Along with our best bond rating in 80 years, and our recent “Distinguished Budget Presentation Award” from the Government Finance Officers Association, this latest report from the Comptroller is excellent validation of New Rochelle’s fiscal health and stewardship.