NYS Comptroller deems Southport “susceptible to financial stress”

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SOUTHPORT, N.Y. (WETM) – The Town of Southport has been deemed “susceptible to financial stress” by the Comptroller’s Fiscal Stress Monitoring System (FSMS), according to New York State Comptroller Thomas P. DiNapoli.

The latest round of scores identified 19 local governments designated in fiscal stress, including six counties, four cities, and nine towns based on financial reports from 2020.

Of the 30 total governments in a fiscal stress designation for 2020, 17 were also in some form of fiscal stress in 2019. Four cities that were in “significant fiscal stress” in both years are Niagara Falls, Poughkeepsie, Amsterdam, and Long Beach.

Southport was among 12 counties, cities, and towns deemed “susceptible to financial stress,” including Broome, Albany, Nassau, Monroe, and Oneida counties.

Chemung County’s fiscal stress score has dropped 16.2 points over the last three years.

DiNapoli’s report also found:

  • In response to COVID-19, many local officials made difficult mid-year 2020 budget decisions about how best to meet their community’s service needs with reduced or less predictable revenues, while protecting public health and minimizing cuts to their own workforce.
  • Rebounding monthly sales tax collections in much of the state supported local governments’ bottom lines, with many counties outside of New York City seeing only slight losses for 2020 overall compared with 2019, and collections in some counties even growing for the year.
  • 173 local governments did not receive a fiscal stress score for fiscal year ending 2020. The vast majority of these (169) did not file in time to be scored, including the cities of Beacon, Dunkirk, Ithaca, Johnstown, Little Falls, Mechanicville, Mount Vernon, Rensselaer and Salamanca; and Greene and Ontario counties.

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