Each year, the Office of the New York State Comptroller uses a Fiscal Stress Monitoring System to answer the following question for school districts across the state: Does a school district generate enough revenue to meet expenditures?
The Fiscal Stress Monitoring System analyzes a range of financial information provided by school districts, such as year-end fund balance, cash position, short-term borrowing and patterns of operating deficits. The analysis serves as an objective assessment of fiscal challenges facing districts and identifies situations where corrective action may be needed.
The state also calculates an Environmental Stress score, which takes into account trends that are generally outside the control of the school district, but which may affect its ability to raise revenue and meet demands. Each district’s Fiscal and Environmental Stress scores drive an annual classification, ranging from No Designation to Susceptible or Significant.
The Comptroller’s office recently released its results for 2021, and the Hendrick Hudson School District fared very well. The district received the lowest classification (No Designation) for both Fiscal and Environmental stress.
“It is no secret that our school community was concerned about the fiscal health of the district after Entergy announced the closure of Indian Point,” said Superintendent Joseph Hochreiter. “Our vigorous advocacy efforts, built upon strong relationships with state and federal lawmakers, have yielded significant revenue to combat the loss of the Indian Point PILOT. We are proud of these efforts and thankful the state comptroller has recognized them with our positive fiscal score.”