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Dinolfo: Monroe County's ‘Fiscal Stress’ Score Upgraded By State Comptroller

Dinolfo: Monroe County's ‘Fiscal Stress’ Score Upgraded By State Comptroller

County Executive Cheryl Dinolfo announced that Monroe County has been informed by the Office of the New York State Comptroller Thomas P. DiNapoli that the County’s “Fiscal Stress” designation was upgraded to “Moderate” from “Significant” for fiscal year 2018. Under the Comptroller’s “Fiscal Stress Monitoring System”, Monroe County’s “Fiscal Stress Score” has improved every year since Dinolfo took office in January of 2016.

“Even the Comptroller’s fiscal stress report – which has never been kind to counties – recognizes that our commitment to building better budgets is producing real results for local taxpayers,” said Dinolfo. “Our improved fiscal stress score also comes on the heels of our fourth credit rating upgrade in three years, with all three major bond rating agencies now assigning Monroe County ‘A’ ratings across the board. Add in our recent first-in-a-decade property tax rate cut, which is saving homeowners millions, and it’s clear we are getting it done for taxpayers!”

The Comptroller’s “Fiscal Stress Monitoring System includes three tiers of designations assigned to local municipalities: Significant Fiscal Stress, Moderate Fiscal Stress, and Susceptible to Fiscal Stress. As indicated by DiNapoli’s Office, Monroe County’s recent scores and designations are as follows:

Year Score Designation
2018 64.2 Moderate Fiscal Stress
2017 69.2 Significant Fiscal Stress
2016 78.8 Significant Fiscal Stress
2015 82.1 Significant Fiscal Stress