District Passes New York State’s Fiscal Stress Test with Optimal Score
Each year, the Office of the NY State Comptroller uses a Fiscal Stress Monitoring System to answer the following question for school districts across the state: Does a school district generate enough revenues to meet expenditures?
The Fiscal Stress Monitoring System analyzes a range of financial information provided by school districts, such as year-end fund balance, cash position, short-term borrowing and patterns of operating deficits. The analysis serves as an objective assessment of fiscal challenges facing districts and identifies situations where corrective action may be needed.
There is also an Environmental Stress score, which takes into account trends that are generally outside the control of school district, but which may affect its ability to raise revenue and meet demands. Each district’s Fiscal and Environmental Stress scores drive an annual classification, from No Designation to Susceptible or Significant.
The Comptroller’s office recently released its results for 2019, and the Hendrick Hudson School District has fared very well. The district received the lowest classification (No Designation) for both Fiscal and Environmental stress.
“The district received the lowest classification for both Fiscal and Environmental stress," said Superintendent Joseph Hochreiter. "This means that the State Comptroller has determined that the school district is in a very good financial position to meet its fiscal obligations.”