NEWBURGH- For the fourth consecutive year, State Comptroller Thomas DiNapoli has issued its top score for municipal fiscal health to the City of Newburgh. The City of Newburgh is one of only three cities in the state to receive this top score in four consecutive years.
“In 2019, the City Council and I charted a course to bring the City back from the brink of insolvency; five years later, leading public, private, and industry groups recognize Newburgh as one of the state’s best-run cities,” said Todd Venning, city manager. “In partnership with the City Council, this administration will continue to expand the local economy and maintain the open and transparent budgeting process that is returning the City to prosperity.”
Moody’s Investment Services’ recent analysis upgraded Newburgh’s credit rating to A3 from Baa2. The Comptroller’s report cited a 10.4 percent year-to-year rise to median household income in the City as one of the reasons for issuing the top fiscal score.
The Comptroller’s report follows the city receiving the Distinguished Budget Presentation Award which was conferred by the Government Finance Officers Association of the United States and Canada in June.
