Livingston County receives ‘No Designation’ in 2019 fiscal stress scores
GENESEO — Livingston County Administrator Ian M. Coyle announced that the County received “no designation” in the 2019 Fiscal Stress Scores from the Office of the New York State Comptroller. The marking of “no designation” is the best a local government can receive in the scores.
The County’s 2019 Fiscal Stress Score is 3.3% with an Environmental Score of 23.3%. The Fiscal Stress Score remains consistent with those from 2018 and 2017 and is a continued improvement from 2016 (6.3%) and 2015 (9.6%).
“The steady 2019 Fiscal Stress Scores demonstrate that the Board of Supervisors, Elected Officials, Department Heads, County workforce and I take seriously the responsibility we have to our taxpayers to make sure Livingston County is on sound financial footing,” said Coyle, who is also the County’s Chief Budget Officer. “The scores are validation of the County’s budget measures and fiscally-sound financial controls.”
Fiscal stress scores are determined based on a number of indicators such as fund balance, operating deficit, liquidity, fixed costs, and short-term cash flow. Environmental indicators include change in population, percentage of households with public assistance, percent of population under 18 and over 65, percent change in home value, median household income, unemployment rate, and reliance on state and federal aid.
The Comptroller’s report suggests that the COVID-19 pandemic may present fiscal challenges for local governments in the future due to declines in sales tax revenue, state aid withholdings, and existing stress, including low fund balances.
For more information on Livingston County’s Fiscal Stress Scores, contact the County Administrator’s office at 585-243-7040.