Fiscal Stress in School Districts Common Themes for School Year 2017-18, January 2019
This report summarizes results of school district scores for the 2017-18 school fiscal year (SY) and compares results to SY 2016- 17.
This report summarizes results of school district scores for the 2017-18 school fiscal year (SY) and compares results to SY 2016- 17.
Local sales tax collections in New York State were $17.5 billion in 2018, a 5.3 percent increase over the previous calendar year and the third consecutive year that growth in collections improved. Certain economic factors may be contributing to this improvement--more than 62,000 additional New York residents were employed in 2018, total wages for the first two quarters increased by nearly 5.7 percent compared to the same period in the prior year, consumer confidence has remained high and consumer spending has been mostly steady throughout the year.
Statewide, foreclosure filings fell by 46 percent between 2013 and 2018. Foreclosure rates are highest in the Long Island and the Mid-Hudson regions. Only four counties—Clinton, Putnam, Rockland, and Suffolk—have a foreclosure rate over 1 percent. Other stakeholders are pursuing efforts to reduce harm to local governments and communities caused by “zombie properties.”
Broadly speaking, Long Island residents enjoy a high quality of life, reflected in high median incomes, relatively low unemployment and crime rates, strong public schools, numerous higher education opportunities and many cultural and natural recreational activities. However, the region's population and economic growth comes with challenges, such as traffic congestion and high property taxes.
In 2017, the State’s 109 active Industrial Development Agencies reported projects valued at $98.1 billion, with over $750 million in net annual tax exemptions and $8.0 billion in total debt outstanding, including conduit and other debt. They supported 4,385 projects that produced a net total of 198,522 jobs gained since their inception through 2017.
Local sales tax collections for the first half of 2019 totaled $8.8 billion in New York State. Collections grew by 3.4 percent and 3.2 percent in the first and second quarters, respectively, over the same periods in 2018. This moderate pace is closer to those seen in most of 2017 than to the stronger early quarters of 2018.
Parents, educators, the public and State policymakers agree that student safety must be a top priority in every school. This report summarizes some of the information reported by New York’s public school districts on violent and disruptive incidents and expenditures on school building security materials and equipment, and includes a series of regional profiles.
New York State’s Constitutional Tax Limit (CTL) restricts the amounts local governments may raise by taxing real estate in any fiscal year. All cities, counties and villages must comply. Overall, relatively few municipalities are dangerously close to their CTL; however, the number has been increasing in recent years. For these communities, the CTL poses a serious constraint on their ability to generate revenue.
The City of Schenectady recently began installing energy saving LED street lights and expanding wireless connectivity to certain neighborhoods as part of its Smart City Project. Other local governments across New York State are also turning to new technologies to save money, better communicate with residents and allow taxpayers to make payments online. The report notes that local government leaders should be prepared to systematically address the heightened need for cybersecurity, particularly concerning smart infrastructure devices and related data.
This report summarizes the fiscal and environmental results of all 1,586 New York counties, cities, towns and villages for their fiscal years ending (FYE) in 2018 and compares results to FYE 2017. It also points to useful tools to help local governments experiencing stress, such as multiyear financial planning to ensure that financial resources are available for future needs.