Which Hudson Valley County Deemed ‘Free of Fiscal Stress’ Once Again?
While pretty much everyone I know (especially in New York State) seems to be stressed when it comes to finances and the cost of living these days, an entire county in the Hudson Valley has once again been deemed 'free of fiscal stress' according to the NY State Comptroller's Office.
Stress Free In Sullivan County When it Comes To Fiscal Rankings
Though it isn't the first time that this particular area of the Hudson Valley has achieved the ranking of 'free of fiscal stress,' Sullivan County reached their best-ever scores in the Annual Fiscal Stress Rankings for fiscal year 2022.
There are two separate scores that come into play when looking at rankings, Fiscal and Environmental. The fiscal score is the one used to classify the county into a particular category.
Sullivan County's Fiscal Rank Has Improved Over The Past Three Years
Since 2019, Sullivan County has demonstrated incredible improvements when it comes to their Fiscal Stress Score. Back in 2019 the county received a score of 42.1 points, dropping (improving) to 35.8 in 2020, to 13.3 in 2021, and for 2022 received a a best-ever score of 3.3 points, and fell into the 'No Designation' category.
You may assume that No Designation isn't a good thing, but in this case, it's just the opposite, as the best ranking, meaning that there are zero indications of the municipality being susceptible to fiscal stress. The other possible categories are Significant Fiscal Stress, Moderate Fiscal Stress, and Susceptible to Fiscal Stress.
According to Sullivan County Manager, Josh Potosek:
This latest report reaffirms that we continue to maintain County government’s fiscal stability, and for the third year in a row, we also received ‘No Designation’ for environmental stress, meaning prospects are excellent for the County continuing that stability.
You can take a look at where other counties fell in the ranking by viewing the New York State Comptroller's full report here.