DiNapoli: School districts facing fiscal stress
By MATTHEW DONDIEGO
According to a new analysis of the 674 school districts with fiscal years ending on June 30, 2013 by the office of New York State Comptroller Thomas DiNapoli, 13 percent of school districts statewide have been deemed fiscally stressed under the comptroller's new Fiscal Stress Monitoring system.
The 87 school districts ruled fiscally stressed are considered to be in either "significant fiscal stress," "moderate fiscal stress," or are "susceptible to fiscal stress." The determinations are based on a number of items, including a district's year-end fund balance and how deficit operations are handled. Other factors such as student enrollment, property value and poverty were included as well to determine "the health of the local economy."
The evaluation of the school districts found that 12 districts were ruled in "significant fiscal stress," 23 are districts in "moderate fiscal stress," and 52 are "susceptible to fiscal stress."
School districts in Central New York, Western New York and the North Country have the highest percentage of fiscally stressed school districts, according to the analysis. In the report, the Comptroller's Office found many fiscally stressed districts all suffered from similar challenges, including declining property value, high rates of poverty and low school budget support.
http://www.legislativegazette.com/Articles-Top-Stories-c-2014-01-16-86437.113122-DiNapoli-School-districts-facing-fiscal-stress.html
