The NYS 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 one hundred points in each of two categories (environmental and fiscal). The fewer the 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 23.3 points which is considered “no designation.” The areas Sweden received points in were: a declining population (10 points) and the median value of owner occupied housing (13.33).
On the more relevant fiscal score card, Sweden received 3.3 out of 100 points, the same score it received the previous two years. This section monitors items such as fund balance, cash position, operating deficits, debt services, personal services, and employee benefits. “The Town of Sweden’s finances remain strong and steady,” said Supervisor Kevin Johnson. “The steps we took during the pandemic and that we continue to take during this volatile economic climate have ensured the Town’s financial health.”
The fiscal stress reports of NYS towns were released this month and can be found at http://osc.state.ny.us
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