FOR IMMEDIATE RELEASE
September 29, 2022
NYS Comptroller’s Office Releases City of Kingston’s
2021 Fiscal Stress Score
KINGSTON, NY – Mayor Steven T. Noble is pleased to announce that for the second year in a row, the City of Kingston has received a Fiscal Stress Score of 1.7% from the New York State Comptroller’s Office.
A lower number indicates a lower fiscal stress score. On a scale of 0 to 100, based on the City’s fiscal year-end results, the City of Kingston received a score of 1.7%.
The Office of the State Comptroller uses the Fiscal Stress Monitoring System to examine the annual financial information reported by each municipality. This analysis provides an objective assessment of the fiscal challenges facing individual local governments and school districts, identifying situations where corrective action may be needed.
Fiscal Year Score
“I am proud that our 2021 Fiscal Stress Score remained at the previous year’s low level, and that our environmental stress score went down,” said Mayor Noble. “As always, I thank our Comptroller John Tuey for his steady hand on our municipal finances and the Common Council for their budgetary oversight. Despite the lingering effects of the pandemic, we were able to maintain solid financial standing, and by using sound budgeting practices year after year, we are consistently leading the City of Kingston on a strong path forward.”
City of Kingston Comptroller John Tuey said, “Kingston’s score staying level at 1.7% on a scale of 0% to 100%, with a lower score indicative of less stress, is certainly positive news and is reflective of the City’s continued attention towards fiscal governance. A strong financial footing has benefitted the City by providing for budgetary stability, enhanced access to capital, and lower debt service costs.”
More information can be found at: https://www.osc.state.ny.us/press/releases/2022/09/dinapoli-releases-fiscal-stress-scores