With a score of 3.3, Ulster County’s fiscal stress score signifies a healthy financial state.
Acting Ulster County Executive Johanna Contreras will present the 2023 Executive Budget on October 4th
KINGSTON, N.Y. - According to the New York State Comptroller’s Office (OSC), Ulster County’s fiscal stress score is 3.3 out of 100 and signifies that the County has the ability to handle economic fluctuations. Since the inception of the OSC’s tool, Ulster County has always fallen within the range of healthy fiscal stress scores, where it remains for 2021.
“We are proud that once again, the New York State Comptroller’s Office has provided an objective assessment affirming that Ulster County remains in a strong fiscal position,” Acting County Executive Johanna Contreras said. “Thanks to the record of sound financial management in Ulster County, we are able to continue providing residents with the services they need while being confident in our long-term financial stability.”
For the purposes of the Fiscal Stress Monitoring System, OSC has defined “fiscal stress” as the inability of an entity to generate enough revenues within the current fiscal period to meet its expenditures. Essentially the System assesses each entity’s budgetary solvency. The System places entities into one of four categories:
- Significant Fiscal Stress – the most fiscally stressed
- Moderate Fiscal Stress – fiscally stressed
- Susceptible to Fiscal Stress – exhibiting fiscal stress conditions
- No Designation – these entities do not meet the established point thresholds of the Fiscal Stress Monitoring System for classification in one of the stress categories
The analysis provided by OSC shares an objective assessment of the fiscal challenges facing local governments. The Fiscal Stress Monitoring System and resulting fiscal stress designations rely on data from annual financial reports submitted by local governments to the Office of the State Comptroller. Since 2013, Ulster County has been designated with no fiscal stress.
On Tuesday, October 4th, at 4:30pm, Acting County Executive Johanna Contreras will present the 2023 Executive Budget in Kingston. Watch on Facebook live.