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Comptroller says Catskill village 'susceptible to fiscal stress'

Sep 29, 2017 7:30 am

Daniel Zuckerman is reporting for Columbia-Greene Media the village of Catskill is one of 27 municipalities statewide designated by the state Comptroller's Office as fiscally stressed. The list was released Wed., Sep. 27. The village was labeled as being susceptible to fiscal stress, with a score of 50.8 percent. Local officials in Catskill will now be expected to look at their budget and long-term financial planning in an effort to lower the stress. Various projects have placed a debt stress on the village, Catskill Village President Vincent Seeley said. Those projects include the restoration of the CSX railroad trestle and the completion of the Skywalk project. Seeley also noted the village does not immediately reap the benefits of a new business, and pointed out that 1.3 percent of organizations located in the village are nonprofit, which he said, add to the fiscal stress. Among the nonprofits in the village are Dutchmen’s Landing and the Thomas Cole National Historic Site. “We’re proud of the work sacrifices and investments we’ve made to push the village forward,” Seeley said. “We will continue to push the fiscal stress number down.” Read the full story at HudsonValley [dot] com.