Mount Pleasant Susceptible to Fiscal Stress

Though the Town of Mount Pleasant may currently be in good financial standing, the town is ask risk for money problems, according to a study from the New York State Comptroller’s office.

Mount Pleasant, which includes the Village of Sleepy Hollow, is among the eight counties, three cities and 13 towns on a list of municipalities that have been designated as economically strapped, according to State Comptroller Thomas P. DiNapoli’s Fiscal Stress Monitoring System.

 “The challenges facing local governments have reached a critical point and these fiscal stress scores should serve as a wakeup call,” said DiNapoli, in a press release. 

The list breaks the municipalities into communities that are experiencing “significant stress,” “moderate stress,” or are “susceptible to fiscal stress.” 

Mount Pleasant is on the “susceptible to fiscal stress” list which means it received more than or equal to 45 percent of total possible points based on financial information submitted by municipalities, is greater or equal to 45 percent of total possible points. Mount Pleasant received a score of 50.8 percent.

“Taxpayers, local officials and state policymakers need an objective analysis to help them understand the economic and budgetary challenges facing our communities,” said DiNapoli. “My office’s monitoring system was designed to do just that. We have identified local governments from every region of this state that are facing some level of fiscal stress and presented them with a realistic picture of their financial condition.”

Lewisboro was the only other Westchester community that was on the list with a 47.1 percent score. Monroe County topped the list as a significantly stressed municipality with a score of 82.1 percent.

Many of the communities that are stressed had a low fund balance, a continued pattern of operating deficits and inadequate cash on hand to pay bills.

Click here for the list, here for municipalities that are under review, here for municipalities that did not file their financial information for the study, and here for communities that don’t have a designation.

To search by municipality, click here.

“I am confident this new early warning system will motivate elected leaders and their constituents to work together to help their municipality become more efficient, more creative, more forward-thinking and more effective with the resources that are available,” said DiNapoli. “It should also educate state leaders on the systemic challenges that our local communities are struggling to overcome.”