POUGHKEEPSIE – The State Comptroller’s Office has given the City of Poughkeepsie a rating of “significant fiscal stress” with a rating of “moderate environmental stress.”
The ratings apply to the year ending December 31, 2019.
The environmental stress rating reflects the city’s ability to manage fiscal stress given external factors at the time of measurement. The fiscal stress rating looks chiefly at core financial conditions such as cash reserves and fund balance.
“The improvement from significant to moderate environmental stress was as of a point in time before the COVID-19 pandemic hit and so these results were in line with our projections,” said Mayor Rob Rolison. “Today, however, were notified of a 20 percent cut to our AIM (State Aid to Municipalities) payment we typically in October, and that is extremely bad news. The state’s fiscal condition, which impacts local governments, shows the absolute necessity of federal aid to state and local governments.”