Sullivan Continues to Be Free of Fiscal Stress, Says NYS Comptroller's Office

Monticello, NY – The NYS Comptroller’s Office has designated Sullivan County free of fiscal stress, with the County’s finances continuing to be in the best shape since reporting began.

‘No Designation’ Is the Best Designation

The Comptroller’s Office just released its 2024 Fiscal Stress rankings for municipalities Statewide, based on the annual financial reports submitted to the Office. Sullivan County scored as good as ever, once again earning the best rank of “No Designation” (meaning there are no indications of the County being susceptible to fiscal stress at this time).

Municipalities receive a fiscal score and an environmental score. Based on the fiscal score, the system assigns a municipality to one of three categories of stress or to the “No Designation” category if its score doesn’t meet the threshold of stress. (The three categories of stress are “Significant Fiscal Stress,” “Moderate Fiscal Stress” and “Susceptible to Fiscal Stress.”)

“This latest report shows our commitment to maintaining County government’s fiscal stability,” Sullivan County Manager Josh Potosek said. “And for the fifth year in a row, we also received ‘No Designation’ for environmental stress.”

A Perfect Score

The past years have seen ongoing improvement in Sullivan’s fiscal situation. In 2020, the County earned a Fiscal Stress score of 35.8 points. That improved dramatically to 13.3 in 2021 (a lower score indicating better finances), then to 3.3 in 2022, dropping to the lowest (and best) score possible of 0 in 2023, which carried on into 2024.

Meanwhile, the Environmental Stress score dropped from 23.3 in 2020 to 20 points in 2021, then a best-ever 13.3 for 2022, where it remained for both 2023 and 2024. Unlike Fiscal Stress, the data used to create the Environmental Stress score – population changes, poverty levels, tax base, unemployment rates, state/federal aid and other items – represents issues that are not fully within the County’s control.

“Sullivan County continues to rank among the best fiscal performers in all of New York State’s municipalities,” noted County Treasurer Nancy Buck. “We once again achieved a perfect score of 0 for Fiscal Stress, based on how we managed our fund balance and cash flow, the state of our cash ratios, our complete lack of short-term debt, and rising revenues. Taxpayers should be assured we are handling their monies in a fiscally responsible and efficient manner.”

To access the Comptroller’s reports for the County and other municipalities and school districts, visit www.osc.state.ny.us/localgov/fiscalmonitoring/index.htm.