In 2013, New York State Comptroller Thomas DiNapoli implemented a statewide fiscal monitoring system to identify local governments which are experiencing financial strain. This system presents an objective picture of the use of resources and ability to withstand fiscal challenges facing our local governments, so that corrective actions can be taken to avoid a fiscal crisis.
The Office of the Comptroller has just released its 2014 results and once again the Village of Port Washington North, for the second year in a row, received a 0% stress rating. The Village of Port Washington North’s Board of Trustees and I are very proud to be a part of such an exclusive list of being 1 of only 9 of the 64 Village in Nassau County to receive such a rating this year, and only 4 of 64 Villages to receive this rating for the second consecutive year. Statewide, of the 537 villages that reported, we were 1 of 49 villages at 0% stress this year, and 1 of 24 who repeated.
The link for the report is below.
Statistically here are the results:
Nassau County: 9 of 64 Village received a 0% stress rating for 2014. Only 4 of 64 had 0% stress rating for 2013 and 2014. The Village of Port North was one of the 4.
Suffolk County; 6 of 32 Villages received a 0% stress rating for 2014. Only 1 of 32 had a 0% stress rating for 2013 and 2014
Long Island: 15 of 96 village at 0% for 2014, Only 5 had 0% for 2013 and 2014. Again, Port North was one of them.
Statewide: 537 Villages. 49 of 547 has 0% stress for 2014. Only 24 of 547 had 0% stress for 2013 and 2014.
We take our finances very seriously and didn’t become complacent last year when we also received a stress level of 0% . Much of the credit for our receiving the highest rating possible goes to our staff and Board, who are very proactive and spend an tremendous amount of time each month reviewing our finances and adjusting to the current circumstances and anticipating future trends. We will continue to do our part to ensure that the Village of Port Washington North remains fiscally strong and is in the best financial position possible.