Albany had no available general fund balance between 2002 and 2006. Subsequently, the City’s available balance grew to a high of $19.8 million in 2008 before declining in the wake of the 2007-09 recession. Standard and Poor’s Rating Services rates the City of Albany’s general obligation debt at AA-, at the low end of its second-highest rating category. The City has formally applied to the Governor’s Financial Restructuring Board for Local Governments for assistance and has been accepted by the Board.

Between 2007 and 2012, the City’s available fund balance increased by 82 percent, from $3.8 million to $7.0 million in 2012. In 2012, Moody’s warned that rising employee benefit costs could put upward pressure on expenditures. Also, the State cap on growth in the property tax levy could affect the City’s ability to continue to balance its budget by increasing the property tax.

The City of Plattsburgh has strong financial operations marked by operating surpluses in 2010 and 2011, modestly sized but growing and diverse tax base and healthy reserve levels. However, Plattsburgh’s high proportion of tax-exempt properties, weak socioeconomic measures due to a large student population and high debt burden are possible threats to the City’s financial condition.

Sales tax is a major revenue source for New York City and the 57 counties. The strongest growth for 2013 was in the Long Island region Some of the rapid sales tax growth seen there and in New York City was due to the rebuilding efforts after Hurricane Sandy.

This report summarizes findings from the Fiscal Stress Monitoring System using 2013 data for villages with fiscal years ending in February through May. Statewide, 3 percent of villages are experiencing fiscal stress. Downstate villages are more likely than upstate villages to experience fiscal stress. The report notes that some of the environmental factors thought to drive fiscal stress differ between downstate and upstate villages.

This report summarizes findings from the first set of fiscal stress scores to be released for school districts. Statewide, 12.9 percent of school districts are in some level of fiscal stress. Within the report, common fiscal and environmental factors are highlighted along with differences for school districts of varying need/resource capacity.

Between a tax levy limit that restricts local funding, State and federal aid cuts and a lack of other sources of funding, schools are facing fiscal challenges that are not likely to dissipate in the short term.

Like many other "Rust Belt" cities, Buffalo suffered a decline as transportation patterns shifted and manufacturing facilities shut down. However, Buffalo still benefits from its location on the Canadian border and the City, with State and private sector support, has recently made significant efforts to promote new development.

Rye has strong public and private services, including an excellent school system, a vital retail shopping sector and recreational facilities that include parks, beaches, golf and yacht clubs, and nature centers.

The full value of property in White Plains dropped by 29 percent between 2008 and 2013, after more than doubling from 2002 to 2008. While cities statewide show slight recovery, White Plains may find dealing with the loss of so much property value a challenge in the future.

In 2012, the full market value of all real property in New York State was estimated at $2.5 trillion dollars with about $826 billion exempt from one or more types of taxes. This report explores what tax exemptions are, where they are most prevalent, and what local governments may do to minimize their impact.

This report summarizes the findings for all of the calendar year-based local governments which have been scored to date, focusing on common themes and statewide trends.1

Despite its strong tax base, the Town of Colonie has struggled financially in the past decade. However, between a series of property tax increases, including a one-time tax in 2009, and an arrangement to have a private contractor operate the Town’s landfill, Colonie experienced a stronger financial position at the end of 2011 than it had seen since 2002.

Local Sales Tax Collections Up 5.7 Percent in First Half of 2013; Growth Concentrated Downstate

The decline in manufacturing has contributed to the City of Binghamton’s high rates of unemployment and poverty compared to statewide averages. The City must also contend with constraints upon its ability to raise revenues.

Many of New York’s local governments are still struggling with the effects of the recent recession. The following report takes a look at how some of the drivers of fiscal stress have affected counties, cities, towns, and villages.

The City has paid down a significant amount of debt. This, along with the City’s substantial fund balance and a large tax margin, leave Watertown well positioned to cope with current and future fiscal challenges.

The City of Elmira has taken measures to control expenditures through management efficiencies, while still recognizing the importance of investment in infrastructure and economic development initiatives.

The City of Rochester projects large and growing budget gaps in its 2013-14 through 2017-18 fiscal years. Absent significant spending cuts or increasing revenues, the gaps could cause the City to exhaust its available fund balance within the next two fiscal years.

The City of Syracuse faces many of the same challenges as other upstate cities. However, a larger than average percentage of its property tax base is either exempt or delinquent and growing fixed costs in the budgets of the City and the dependent school district have created chronic budget gaps.