ALBANY – Four of 23 school districts statewide were designated in some level of fiscal stress under State Comptroller Thomas DiNapoli’s Fiscal Stress Monitoring System for the school year ending on June 30, 2021.
“Fewer of New York’s school districts were scored as under fiscal stress in 2021, but the operational issues caused by the pandemic for all school districts were extreme,” DiNapoli said. “School districts must watch their finances closely as the pandemic continues, prices rise and staffing issues mount.”
Only two districts statewide were in fiscal stress – East Ramapo Central School District in Spring Valley and Newfield Central School District.
Of the remaining 21 districts, Kiryas Joel Village Union Free School District, Mount Vernon School District, and Wappingers Central School District were susceptible to fiscal stress.
School districts are given a fiscal stress score based on several factors, year-end fund balance, operating deficits and surpluses, cash position, and reliance on short-term debt for cash flow.
