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Posted on: October 10, 2019

Fiscal Monitoring Update for Town of Webster

The Office of the State Comptroller does a yearly check of the financial status of all towns, villages, counties, and school districts, called the Fiscal Stress Monitoring System.

Fiscal Monitoring Update from Supervisor Nesbitt:


The Office of the State Comptroller does a yearly check of the financial status of all towns, villages, counties, and school districts, called the Fiscal Stress Monitoring System.


The system evaluates a municipality based on several financial indicators and generates a financial stress score. The point range levels include: Significant Stress: 65 - 100, Moderate Fiscal Stress: 55 - 64.9, Susceptible Fiscal Stress: 45 - 54.9 and No Designation: 0 - 44.9.


The recent results show that for fiscal years ending in 2017 and 2018 the Town of Webster is at 0% stress level in the area of financial designation!

Some of the evaluated areas included in this score are: assigned and unassigned fund balance, total fund balance, operating deficit, cash ratio, short-term cash flow debt issuance, personal services and employee benefits and debit service & revenue. All of these categories received a 0% stress level from the Comptroller for 2017 and 2018 in the financial field.


The 0% stress level the Town of Webster received is the lowest in Monroe County when put up against other towns, including the 10% designation the Village of Webster and the Webster School District received.


The reason for this is very simple: very experienced Department Heads, employees and Town Board members efficiently running the day-to-day operations and maintaining a balanced budget for the Town of Webster.  The Town of Webster has very little debt in relation to our 26-million-dollar budget, which we efficiently manage. We don’t make purchases on a credit card. Instead, we pay in cash so as not to burden our children with our debt years from now.


If you look at some of the towns that have high stress levels, one of the deciding factors in this designation is high debt level. It is a balancing act between revenues and expenses each year to continue to provide all the services Webster residents have come to enjoy and need. When extra revenues become available, we re-invest into projects we can afford, rather than expand the debt on a credit card.


I am very proud of our Town Department Heads, Town employees and the Town Board for their hard work and dedication that is reflected in this 0% fiscal stress score.  We were able to bring in another balanced budget for 2020 and we will work diligently to maintain that 0% fiscal stress rating for the future!


For the full financial reports, visit:

http://wwe1.osc.state.ny.us/localgov/fiscalmonitoring/fsms.cfm



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