NYS Comptroller's Office 2024 Fiscal Stress Report

The NYS Comptroller's Office has released the 2024 Town of Pound Ridge fiscal stress score of 6.7 out of 100 with 0 being the best score and 100 being the worst. The various score brackets are listed below .

The Fiscal Stress Monitoring System (the System) is OSC’s program to objectively identify issues with budgetary solvency—the ability to generate enough revenue to meet expenditures—for each county, city, town, village and school district. The score is based on various financial criteria including:

Year-End Fund Balance =  50 Points. The most significant measure of fiscal stress. Best score = 0   Worst score = 50
This section tests operational funds(General and Highway) and focuses on Combined Assigned and Unassigned Fund Balance being more than 10% of Expenses and Total Fund Balances more than 20% of Expenses. 
1. (Assigned and Unassigned Fund Balance)/Gross Expenditures. 
    0 points for Fund Balance over 10% of Gross Expenditures. The Town result is 11.65% which is a score of 0.
2. Total Fund Balance/Gross Expenditures. 
    0 points for Total Fund Balance over 20% of Gross Expenditures. The Town result is 70.63% which is a score of 0.
Total score for this section is 0 out of 50. 
 

Operating Deficits/Surpluses = 10 points.  Best score = 0       Worst score =  10 
This section tests the past three years with the focus on Revenue being greater than Expenses resulting in an operational surplus.
3. (Gross Revenues-Gross Expenses)/Gross Expenses for past three years. 
    0 points for all three years having a result greater than 0 resulting in an operational surplus. The Town results are:
2022  9.56%     2023  3.35%  and 2024 8.94% resulting in a score of 0 points out of 10.

Cash Position =  20 points.  Best score = 0       Worst score =  20 
This section tests Cash Balance related to Current Liabilities and Cash Balance related to Avg Monthly Expenditures
4. Cash and Investments/Net Current Liability
     0 points for greater than 100%. The Town result is 93.34% resulting in a score of 3.33 out of 10.
5. Cash and Investments/Average Gross Monthly Expenditures. 
     0 points for greater than 100%. The Town result is 90.08% resulting in a score of 3.33 out of 10.
Total score for this section is 6.67 out of 20. 

Use of Short-Term Cash-Flow Debt Issuance = 10 points. Best score = 0       Worst score =  10
This section tests use of short-term cash-flow debt.
6 and 7. The Town issues no short-term cash-flow debt.
Total score for this section is 0 points out of 10.

Fixed Costs = 10 points. Best score = 0       Worst score =  10
This section tests Employee Benefits and Debt Service in relation to Total Revenues for the past three years.
8. Employee Benefits/Total Revenues  for the past three years.
    0 points for last three years less than 65%. The Town results are:
3 year average of 14.62% resulting in a score of 0 points out of 5.
9. (Debt Service-Current Refunding Bond Proceeds)/Total Revenues for the past three years
    0 points for last three years less than 10%. The Town results are:
3 year average of 0.83% resulting in a score of 0 points out of 5.

Total score 6.67/100 showing no fiscal stress

Point Range (Out of 100 total pts)

Significant Fiscal Stress 65 – 100

Moderate Fiscal Stress 55 - 64.9

Susceptible Fiscal Stress 45 - 54.9

No Designation 0 - 44.9