I was fortunate to have received this (see below) from someone who follows this blog. The New York State Comptroller, Tom DiNapoli, has issued a report that attempts to analyze the ability of local, public institutions to withstand potential financial problems. As the writer points out, the report places the city of Saratoga Springs as one of only three local governments out of its cohort of sixty-one with a perfect score (Zero).
Here is what the writer posted to me:
The Fiscal Stress Monitoring System provides:
An early warning of fiscal stress to local governments and school districts by examining their financial information and aspects of their external environment;
The System has two main components:
Financial indicators evaluate budgetary solvency, the ability of a locality to generate enough revenue to meet expenses, by measuring:
• Year-end fund balances
• Operating deficits/surpluses
• Cashposition
• Use of short-term debt for cash flow
Environmental indicators capture trends that influence revenue-raising capability and demands for service:
Local Governments
- • Population
- • Age
- • Poverty
- • Property values •Employment
- Dependence on revenue
- from other government units (which can be highly variable)
- Constitutional tax limits
- Sales tax revenue
- • Fixed costs (evaluated for local governments only)
Although environmental factors are largely outside a locality’s control, they provide insight about additional challenges confronting a community
http://www.osc.state.ny.us/localgov/fiscalmonitoring/pdf/factsheet.pdf
My language [The writer’s, not mine]:
Environment score rates the overall health of the city (not the finances) with an attempt to forecast pending problems.
- We are 1 of only 3 out of 61 to score “0”
- You can see the types of environment factors used at http://www.osc.state.ny.us/localgov/fiscalmonitoring/pdf/environmental_quick_reference.pdf
Saratoga Springs Politics 
Thank you John for posting this information about the City’s fiscal health. I am presenting the 2017 Comprehensive Budget on Tuesday night to the City and City Council. I will be issuing a Media Announcement on Monday morning and plan to include much of the information about the state of our fiscal health in this announcement and as a discussion during our upcoming budget meeting workshops. This is all very good news for our City.
It’s a great report from the Comptroller on Saratoga Springs finances: “0” Stress & “0” Environmental issues. Saratoga Springs is the only one of 61 cities in New York State with a report to receive double “0” ratings.
I’m also pleased to know your readers, many who are residents and taxpayers, are paying attention to how well we are doing fiscally. A lot of time, energy and work goes into keeping the city humming along financially with all the necessary services our taxpayers and residents need and deserve.
Michele Madigan
Commissioner of Finance
City of Saratoga Springs
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