The Village of Port Washington North was among 11 villages on Long Island that scored zero in the state comptroller’s evaluation of village financial statements statewide, an indication that they were in good financial shape. State Comptroller Thomas P. DiNapoli’s office used a “fiscal stress monitoring system” to evaluate 535 villages that had fiscal years ending on May 31, 2013 — all but a handful of the state’s villages.
Statewide, 44 villages, including the ones on Long Island, scored a zero. This means that their budget figures didn’t trigger any of the indicators in the monitoring system, such as fund balance, operating deficit and short-term debt. The other villages that received the same score are Asharoken, Bellerose, Centre Island, Hewlett Harbor, Northport, Oyster Bay Cove, Quoque, Russell Gardens, Saddle Rock and South Floral Park.
Fifteen of 535 villages with fiscal years ending on or before May 31, 2013, 87 of nearly 700 school districts with fiscal years ending June 30, 2013 and 40 of over 1,000 municipalities with fiscal years ending December 31, 2012 have been categorized as facing some level of fiscal stress.
For more information about New York State’s Fiscal Stress Monitoring System, you can visit the website here. For a list of all results, you can visit here.