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NY reports levels of municipal financial stress

ALBANY (AP) — New York’s comptroller reports 10 municipalities in the state were under “significant” fiscal stress last year, with low fund balances and operating deficits, while another eight were under moderate stress and 17 were considered susceptible.

The 10 are the counties of Monroe, St. Lawrence, Schuyler, Rockland and Franklin, the cities of Poughkeepsie and Mechanicville, the towns of Jasper and German Flatts and the village of Islandia.

The second annual report, intended by Comptroller Thomas DiNapoli as an early warning system, shows Suffolk County and the town of Colonie outside Albany lowered their 2012 stress ratings from significant to moderate.

Niagara Falls, Fishkill and Genesee Falls dropped their stress rating altogether.

The report examines the 57 counties outside New York City, 932 towns, 44 cities and 10 villages.