nys comptroller fiscal stress monitoring
DESCRIPTION
NYS Comptroller Fiscal Stress Monitoring. Highland Central School District For the school year ending 06/30/13. Designations Mid Hudson Valley Region (Dutchess, Orange, Sullivan, Ulster & Westchester Counties). Significant Fiscal Stress (65% - 100%) - PowerPoint PPT PresentationTRANSCRIPT
NYS Comptroller Fiscal Stress Monitoring
Highland Central School DistrictFor the school year ending
06/30/13
Designations Mid Hudson Valley Region
(Dutchess, Orange, Sullivan, Ulster & Westchester Counties)
Significant Fiscal Stress (65% - 100%) 12 Districts Statewide (2 Districts – Dutchess/Orange)
Moderate Fiscal Stress (45% - 64.9%) 23 Districts Statewide (1 District - Westchester)
Susceptible to Fiscal Stress (25% - 44.9%)52 Districts Statewide (7 Districts – all Counties)
No Designation (0% - 24.9%)587 Districts Statewide (90 Districts – all Counties)
SEVEN INDICATORS UTILIZED FOR FISCAL
STRESS RUBRIC1. Unassigned Fund Balance2. Total Fund Balance3. Operating Deficits4. Cash Ratio5. Cash Percentage of Monthly
Expenditures6. Short Term Debt Issuance7. Short Term Debt Issuance Trend
Indicator 1 of 7 Unassigned Fund Balance
Description Data Total
Points Points Score3 Points ≤ 1% Last Fiscal Year Unassigned Fund Balance
$503,583
3 2 16.75%
2 Points >1% But ≤ 2% Last Fiscal Year Gross Expenditures
$ 35,403,165
1 Point > 2% But ≤ 3% last Fiscal year
Unassigned Fund Balance Percentage 1.40%
Indicator 2 of 7 Total Fund Balance
Description Data Total
Points Points Score3 Points ≤ 0% Last Fiscal Year Total Fund Balance
$2,854,291
3 1 8.25%2 Points >0% But ≤ 5% Last Fiscal Year Gross Expenditures
$ 35,403,165
1 Point > 5% But ≤10% last Fiscal Year
Total Fund Balance Percentage 8.10%
Indicator 3 of 7 Operating Deficit / Surplus – General
Fund• Three year analysis• Annual revenues must
exceed annual expenditures
• Use of appropriated fund balance reduces current year revenues
• No points in 2013
Indicator 4 of 7 Cash Ratio
• One year analysis• Cash verses current
liabilities• No Points in 2013
Indicator 5 of 7 Monthly Expenditures
• Prior year only – one year period• General Fund• Actual cash verses monthly expenditures • No points in 2013
Indicator 6 of 7 Short Term Debt Issuance
Description Data Total
Points Points Score
3 Points > 15% Debt Issued - RAN
$2,500,000
3 2 3.70%2 Points >5% But ≤ 15% Total Revenues $
35,403,165
1 Point > 0% But ≤ 5% Debt/Total Revenues 7.00%
Indicator 7 of 7 Short Term Debt Issuance Trend
Description Data Total
Points Points Score
3 Points = Issuance in 2011 Debt Issued - RAN $0
3 1 1.30%2 Points = Issuance in 2012 Debt Issued - RAN $0
1 Point = Issuance in 2013 Debt Issued - RAN $2,500,000
Highland’s Fiscal Stress Score: 30%
Summary• Total Score of 30 –
“Susceptible to Fiscal Stress”• Low Fund Balance• Necessity for Short Term Debt• Environmental Weighting for Failed
Budget Votes