State Comptroller Thomas DiNapoli is seeking input from taxpayers, elected officials and researchers on his Fiscal Stress Monitoring plan which will seek to identify early signs that local governments and school districts are nearing or are already in financial crisis. (Read Tax Watch’s coverage of the plan here.)
The comptroller has opened a 60-day comment period on the plan, which will use data from localities to determine their fiscal health. The goal, DiNapoli said, is to encourage local officials in troubled areas to take corrective action before problems worsen. The monitored areas will include: year-end fund balances, operating deficits, cash positions, use of short-term debt and fixed costs.
The public can submit comments or suggest changes to the plan from until Dec. 2 at this link: http://wwe1.osc.state.ny.us/localgov/fiscalmonitoring/fs1.cfm
You can read more about the plan below. Also, please share your thoughts in the comments.
Photo: New York state Comptroller Thomas DiNapoli (Melissa Elian/The Journal News)