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Wednesday 7 December 2022
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Miner Reacts to Syracuse’s Improved Fiscal Stress Score

By Staff

 

mayor_miner01According to New York State Comptroller Thomas DiNapoli, Syracuse’s fiscal stress score has improved. DiNapoli recently released the scores through its Fiscal Stress Monitoring System, for Syracuse and 16 other cities with fiscal years ending between March 31 and July 31.

The comptroller rated the scores using a 100 point scale; a scale on which higher scores equaled greater stress, officials from the office stated.

Syracuse had a fiscal stress score of 25.8 in 2014, up from 37.5 in 2012, and 34.2 in 2013.

And, according to the comptroller, only cities with a score of 45 points or higher are in danger of facing fiscal difficulty in the future.

Mayor Stephanie Miner released the following statement regarding Syracuse’s improved score:

“Our improved score is recognition of the hard work we have done to address the fiscal issues affecting the city of Syracuse. Our new score reflects the fact we have prudent fiscal practices—including not borrowing for operating expenses and pension costs, only bonding for what we pay each year, and making responsible cuts and investments where needed. While we have made important strides, there are still challenges to be met including engaging our partners on the state and federal levels to address our critical infrastructure needs.”

DiNapoli’s office said the Fiscal Stress Monitoring System develops a city’s score based on information local governments and school districts are required to report to the state, as well as local environmental indicators.

Visit http://www.osc.state.ny.us/press/releases/apr15/042315.htm to view the full report.