Sullivan Earns Perfect Score on State's Fiscal Stress Ranking

Monticello, NY – The NYS Comptroller’s Office has designated Sullivan County free of fiscal stress, with the County’s finances continuing to be in the best shape since reporting began.

‘No Designation’ Is the Best Designation

The Comptroller’s Office just released its 2023 Fiscal Stress rankings for municipalities Statewide, based on the annual financial reports submitted to the Office. Sullivan County scored better than ever, once again earning the best rank of “No Designation” (meaning there are no indications of the County being susceptible to fiscal stress at this time).

Municipalities receive a fiscal score and an environmental score. Based on the fiscal score, the system assigns a municipality to one of three categories of stress or to the “No Designation” category if its score doesn’t meet the threshold of stress. (The three categories of stress are “Significant Fiscal Stress,” “Moderate Fiscal Stress” and “Susceptible to Fiscal Stress.”)

“This latest report reaffirms that we continue to maintain County government’s fiscal stability,” Sullivan County Manager Josh Potosek said. “And for the fourth year in a row, we also received ‘No Designation’ for environmental stress, meaning prospects are excellent for the County continuing that stability.”

A Perfect Score

The past five years have seen ongoing improvement in Sullivan’s fiscal situation. In 2019, the County earned a Fiscal Stress score of 42.1 points. That improved to 35.8 in 2020 (a lower score indicating better finances), then to 13.3 in 2021, dropping to 3.3 in 2022 and now hitting the lowest (and best) score possible: 0 points.

Meanwhile, the Environmental Stress score dropped from 30 in 2019 to 23.3 points in 2020, then 20 for 2021, 13.3 for 2022, and now remains at its own best-ever of 13.3 points. Unlike Fiscal Stress, the data used to create the Environmental Stress score – population changes, poverty levels, tax base, unemployment rates, state/federal aid and other items – represents issues that are not fully within the County’s control.

“Sullivan County continues to rank among the best fiscal performers in all of New York State’s municipalities,” noted County Treasurer Nancy Buck. “We finally achieved a perfect score of 0 for Fiscal Stress, based on how we managed our fund balance and cash flow, the state of our cash ratios, our complete lack of short-term debt, and rising revenues. This is an incredibly good place to be.”

To access the Comptroller’s reports for the County and other municipalities and school districts, visit www.osc.state.ny.us/localgov/fiscalmonitoring/index.htm.