New York State Comptroller Thomas DiNapoli has released a report on fiscally stressed municipalities throughout the state, and the town of German Flatts is listed as being in “significant stress.”
The report focuses on the fiscal year ending on Dec. 31, 2017, and it relies on data from annual financial reports submitted by local governments to the Comptroller’s Office.
The town of German Flatts in Herkimer County is considered to be in significant fiscal stress with a fiscal score of 65 percent. Of the 12 municipalities classified as being in significant stress, and the 10 municipalities listed as being in moderate stress, German Flatts is the only local municipality included.
DiNapoli says this list marks the third straight decline in the overall number of municipalities listed in stress, but the number of local governments considered to be in significant fiscal stress has more than doubled from last year.
An additional 15 municipalities have also been listed as being “susceptible to fiscal stress.”
There were 124 local governments that failed to file their financial information to receive a stress score, according to DiNapoli.
To view the lists of fiscally stressed municipalities, click here.
To read the full report from DiNapoli's office, click here.
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