ALBANY, N.Y. (AP) - New York’s comptroller reports 15 villages statewide are under some level of fiscal stress out of 535 that were evaluated.
In a report released Friday, the comptroller’s office says most operate with low fund balances and budget deficits, while many have relied on short-term debt to cover gaps in cash flow.
Most have declining property values, above average child poverty and shrinking employment.
The report for municipal fiscal years ending last May 31 shows four villages under “significant” financial stress. They are Suffern in Rockland County and Amityville, Manorhaven and Bayville on Long Island.
Four villages with “moderate” stress are Solvay in Onondaga County, Old Brookville and West Hampton Dunes on Long Island, and Kiryas Joel in Orange County.
Seven are rated “susceptible.”
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Online:
Comptroller’s scores for villages:
https://www.osc.state.ny.us/localgov/fiscalmonitoring/pdf/municipalities_summary_list2013.pdf
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