Comptroller: Four area villages under fiscal stress
Mar 05, 2015 7:06 am
William J. Kemble is reporting in the Daily Freeman the state Comptroller’s Office has identified Tannersville as a village under moderate fiscal stress, while three other villages in the region were designated as susceptible to fiscal stress. A statement issued last week noted the susceptible villages include Hunter and Catskill in Greene County and Red Hook in Dutchess County. The annual report by the comptroller was based on villages’ year-end fund balances, the amount of short-term borrowing, and patterns of operating deficits. Tannersville's status was attributed largely to a low fund balance and low cash availability, as well as operating deficits in each of the past three years. Hunter and Catskill both suffered from insufficient fund balances. Read the full story in the Daily Freeman.