Local school districts under "moderate fiscal stress"

By Conor Mooney

Credit: MGN Stills

Local school districts under "moderate fiscal stress"

January 16, 2014 Updated Jan 16, 2014 at 1:09 PM EDT

(WBNG Binghamton) Thirteen percent of school districts in New York are experiencing fiscal stress, some of which are in the Binghamton area according to State Comptroller Tom DiNapoli's office.

Experts analyzed ST-3 reports filed by each district in June, the end of the fiscal year for school districts.

Each district is awarded a score based on their report, and placed into one of four categories; significant fiscal stress, moderate fiscal stress, susceptible to fiscal stress and no designation.

"My office’s fiscal stress scores highlight the need for school district officials to manage their finances carefully with an eye towards long-range planning and how they can operate more efficiently,” said DiNapoli.

In the Southern Tier, the Maine-Endwell and Walton Central school districts were designated as districts with moderate stress.

Binghamton, Spencer-Van Etten, Owego-Apalachin, and Richfield Springs Central school district were all declared susceptible to fiscal stress.

“Unfortunately, reductions in state aid, a cap on local revenue and decreased rainy day funds are creating financial challenges that more and more school districts are having trouble overcoming," said DiNapoli.

Central New York, the North Country, and Western New York were regions experiencing the most fiscal stress.

Five-hundred and eighty-seven districts fell into the no designation category.

The scores do not include districts in the "big four" cities of Buffalo, Rochester, Syracuse and Yonkers, because they have dependent districts.