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Despite some budget issues, Syracuse stays out of 'fiscal stress'

Ellen Abbott
/
WRVO News
Syracuse Mayor Stephanie Miner and NY state Comptroller Tom DiNapoli appearing at city hall Monday.

The city of Syracuse is staying out of fiscal stress, based on a system developed by the New York state comptroller’s office.

The city has never been flagged by Comptroller Thomas DiNapoli for having a government teetering towards insolvency.

“In the three years we’ve been doing this, Syracuse has never been in any stress categories and that certainly is very good news for this community,” said DiNapoli during a visit to Syracuse Monday.

For 2015, Syracuse earned a score of 32.5, giving it a “no designation” classification. That compares to some troubled municipalities that fall into the “significant,” “moderate” or “susceptible to stress” categories.

DiNapoli says Syracuse received good scores in part because of increases in its bond rating; service agreements with local not-for profit institutions; and the practice of paying off debt in time and in full.

He applauds the Miner administration for being realistic when it comes to revenue.

"The mayor has prudently offered conservative revenue estimates, and has been smart not to project any great increase in State aid. Don’t rely on something that is not going to materialize.”

But, DiNapoli says, there were still some issues.

"Syracuse did receive points in terms of fund balance, short-term cash flow, dead issuance and fixed cost indicators, and the city did receive points for deficits and liquidity in 2015."

And Mayor Stephanie Miner says her administration keeps these issues in mind with every decision that’s made.

"We are aware that if we don’t keep a steady eye on these issues we will not be able to provide the kind of services the people expect the city to provide, need to provide in order to have a good quality of life,” said Miner, appearing with DiNapoli.

This fiscal stress monitoring system is meant to offer an early warning to any municipality that might be sliding towards insolvency. It was created after the city of Detroit went bankrupt.

Ellen produces news reports and features related to events that occur in the greater Syracuse area and throughout Onondaga County. Her reports are heard regularly in regional updates in Morning Edition and All Things Considered.