New system would rank local governments facing fiscal crises
ALBANY A new system would cut through bureaucracy and politics to clearly rank New York’s local governments facing growing fiscal crises.
State Comptroller Thomas DiNapoli is planning a point system based on objective fiscal categories such as reserves, debt and cash on hand.
The information to be released publicly is expected to provide facts that could fuel political pressure to act on local governments heading to the brink of bankruptcy, and to provide political cover for officials to make tough spending choices.
The proposed system will soon be released for public comment. The first rankings are due by the end of the year.