The New York State Comptroller monitors the fiscal health of all municipalities in the state and annually issues a report on the fiscal stress level of each municipality. The rating system is based on 100 points in each of two categories (environmental and fiscal). The fewer points earned the better the municipality’s fiscal strength.
The environmental stress score monitors items largely out of a town’s control: population, poverty, age, household income, unemployment. The Town of Sweden received 10 points which is considered “no designation.”
On the more relevant fiscal score card, Sweden received 3.3 out of 100 points. This section monitors items such as fund balance, cash position, operating deficits, debt services, personal services, and employee benefits. “Sweden’s fiscal health has been and remains strong,” said Supervisor Kevin Johnson. “This report helps verify that our practices are sound.”
The fiscal stress reports of NYS towns were released this month and can be found at osc.state.ny.us
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