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. Sweden’s score for the fiscal year ending December 31, 2022 was a 0 out of 100 for financial indicators; a 23.3 for environmental indicators.
On the more relevant fiscal score card, Sweden’s 0 score was a small improvement over last year’s score of 3.3. This section monitors items such as fund balance, cash position, operating deficits, debt services, personal services and employee benefits. The Town has had a “no designation” finding since the inception of the scoring system.
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 in which Sweden received points were: a declining population (10 points) and the median value of owner occupied housing (13.33). Sweden received the same score for the same reasons in 2021.
“A strong fiscal score translates into stable government services,” said Supervisor Kevin Johnson. “It also reassures town taxpayers that they won’t be hit with major tax levy increases. The Town’s money is managed carefully and conservatively.”
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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