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The city of Dunkirk's government has been designated as facing the highest category of financial stress in a regular report released today by the State Comptroller's office.
The office reports twice a year on financial stress faced by municipalities across the state, excluding New York City. Dunkirk's government was one of five in the most severe category, "significant financial stress."
A total of 15 local governments were designated in stress for their local fiscal years ending in 2025, according to the report released today by State Comptroller Thomas P. DiNapoli. DiNapoli launched the report in 2013 to evaluate fiscal stress for local governments, using objective scoring indicators based on year-end fund balance, operating deficits, cash-on-hand, short-term borrowing, and fixed costs. The system's fiscal stress scoring provides an early warning to local officials about fiscal issues and gives the public insight into their local governments' financial condition.
The scores announced today are for local governments operating on a calendar year basis for FYE 2025, covering all counties and towns, 44 cities and 13 villages. This round of scoring designated 15 local governments in fiscal stress, including eight cities, six towns and one village.
School district scores were released in January. DiNapoli's March report designated seven villages in financial stress.
Dunkirk joins the cities of Albany (Albany County) and Little Falls (Herkimer County), as well as the town of Kent (Putnam) and the village of New Hempstead (Rockland), in the highest-ranking category of "significant stress." The other categories are "moderate fiscal stress" and "susceptible to fiscal stress."
"Local governments are facing increased fiscal pressures due to a combination of the end of federal pandemic aid, higher inflation, rising operating costs and moderating sales tax revenue growth," DiNapoli said. "Local officials should be pragmatic when planning future budgets, and I encourage them to use the FSMS information and tools we provide to help them make prudent financial decisions."
Jamestown is listed as not having filed documentation with the Comptroller's Office. All of the county's towns and villages are listed as having no designation, except for Bemus Point and Fredonia, which are listed as having not filed documentation with the Comptroller's Office.