Rensselaer County has again earned a perfect stress fiscal score following a review of county finances by the state, County Executive Steve McLaughlin announced.
The county earned a perfect score in the Office of the State Comptroller’s Fiscal Stress Monitoring Report for the 2022 fiscal year.
“This is excellent news for Rensselaer County, and demonstrates the county is being managed effectively and responsibly. To earn a perfect fiscal score is a great reflection on our fiscal management team and the work they do every day,” said McLaughlin.
“The report from the State Comptroller demonstrates Rensselaer County is a solid choice for investment and growth, and shows residents and taxpayers their assets are being managed properly ,” added McLaughlin.
Because the county earned a perfect score, the county also received a “no designation” of fiscal stress from the Comptroller. The “no designation” ranking is the best possible classification for a municipality.
The county also earned a perfect fiscal score for the 2021 fiscal year, with a trend of strong fiscal management continuing through McLaughlin’s service as County Executive.
The county has reduced county property taxes by over 25 percent during McLaughlin’s service as County Executive. Services have been improved, including a major project to modernize county offices and facilities. The county has also accumulated healthy cash reserves.
“We have reduced taxes and helped attract and encourage record growth and investment. We have also improved and expanded important county services. This report from the State Comptroller is an important accomplishment for the county and our team,” added McLaughlin.
“Our county has been making significant investments in our facilities, roadways, infrastructure, and equipment because of the strong partnership between the Legislature and the County Executive. We are able to accomplish all of this while still maintaining a strong financial rating, and that is something to be extremely proud of,” said Chairwoman Kelly Hoffman.
“This great news from Comptroller DiNapoli is a testament to the commitment of our county team to provide excellent services, while being fiscally prudent,” said Vice Chair Bob Loveridge
Scores are out of 100 and lower scores indicate a healthy fiscal outlook for municipalities reviewed by the Comptroller.
Measurement in the Comptroller’s review include fund balance, cash reserves, debt service and operating results, along with other factors.