The NY State Comptroller’s Office has just released its annual judgement report about the financial conditions of local government entities.
The report relates to the degree of fiscal stress a municipality is in and its budget solvency, which basically is your spending liability compared to what you are able to raise and pay for.
There are three degrees of fiscal stress based upon your score;
Score of 65%-100% = Significant Fiscal Stress
Score of 55%-65% = Moderate Fiscal Stress
Score of 45%-55% = Susceptible to Fiscal Stress.
Stress is like golf, the lower the score the better.
The Town of Hartford scored a very healthy 3.3% which means we are not included in any of the above three categories.
The Hartford Town Board anticipates that the 2015 budget will come in at a zero percent tax levy increase over 2014.
Plus, 2015 will be the first year in many years that the Town will be debt free.
Here is a link if you wish to learn more about the Comptroller’s report or look up a particular municipality or school.