With a growing number of local governments facing significant fiscal stress, State Comptroller Thomas P. DiNapoli announced on Sept. 24th plans to implement an early warning “monitoring system” that would identify municipalities and school districts experiencing signs of budgetary strain so that corrective action can be taken before a full financial crisis occurs.
DiNapoli’s office intends to distribute the details of the proposed system to officials in the state for their review during a 60 day comment period. Click here for more information <http://www.osc.state.ny.us/>.
Background information is also available in the August 6th posting, under breaking news, titled “An Imminent Fiscal Crisis.”
My evaluation of the specific reports they intend to release will follow over the next few weeks. Stay tuned in.