Ulster finances among best in state according to State Comptroller

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KINGSTON – Ulster County Executive Pat Ryan announced Wednesday that according to the New York State Comptroller’s Office (OSC), Ulster County is tied for third among New York State’s 62 Counties for Fiscal Stability. OSC issued Ulster County’s 2020 overall fiscal stress score of 6.7 out of 100. The score signifies there is no designation or no current fiscal stress score for the County.

“As we navigate through the pandemic, residents can rest assured that Ulster County is continuing to use strong financial management practices to ensure that their tax dollars are spent wisely and effectively,” Ulster County Executive Pat Ryan said. “The rating from the NYS Comptroller along with our S&P bond rating, allows us to continue to provide high-quality services for our residents while also ensuring the highest level of fiscal responsibility.”

The analysis provided by OSC shares an objective assessment of the fiscal challenges facing local governments. The Fiscal Stress Monitoring System and resulting fiscal stress designations rely on data from annual financial reports submitted by local governments to the Office of the State Comptroller. Since 2013, Ulster County has been designated with no fiscal stress.

In August, S&P Global announced that Ulster County’s credit rating remains strong at AA, citing “strong management, with good financial policies and practice.” Coming off of the strong economic headwinds due to COVID-19, this credit rating reaffirms the county’s ability to respond to the pandemic and economic pressures while continuing to provide superior services for residents. Ulster County Executive Pat Ryan will deliver his 2022 Executive Budget address on Thursday, September 30, in New Paltz. Last year, at approximately $334.4 million, the 2021 budget included a 0% increase in the tax levy and no layoffs to county employees.