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Comptroller’s report: Monroe County is under significant fiscal distress -Rochester Business Journal September 23, 2015-

Comptroller’s report: Monroe County is under significant fiscal distress
By NATE DOUGHERTY
Rochester Business Journal
September 23, 2015

Monroe County is under significant fiscal distress, a new report from Comptroller Thomas DiNapoli showed.

For each of the last three years, DiNapoli’s office has evaluated the financial stabilities of local governments. This year’s report identified 70 that were in fiscal stress at least once during the period. The report also identified 15 entities with the highest designation of “significant fiscal stress,” including Monroe County.

Monroe County was one of four counties in significant stress for all three years. The city of Rochester was also one of 11 communities in the second-highest category of “moderate fiscal stress.”

“The financial trends in some local governments have not improved over the past three years, and it is looking tougher for New York’s cities,” DiNapoli said. “While it is clear that our municipalities continue to struggle with balancing revenues against increasing costs, we also know that sensible budgeting and developing comprehensive multiyear financial plans are crucial to overcoming both current and future fiscal challenges.”

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