Low Fiscal Stress Score = Very Strong District Finances
JAN 22, 2020 - Roslyn School District's fiscal health has been given high marks by the Office of the New York State Comptroller (OSC) in its annual report on the financial condition of school districts and local governments. According to the recently released report for fiscal year 2019, Roslyn continues to have "no designation" of fiscal or environmental stress, which is the lowest indicator possible and an affirmation that the district's financial condition is very strong.
The report is the sixth annual scoring of school districts by the Fiscal Stress Monitoring System (FSMS), which was created by the OSC to assess fiscal stress in local governments and school districts. A low score resulting in "no designation" means that the district is not "susceptible" to fiscal stress, in the judgment of the Comptroller. The score takes into account factors such as the district's budget management, fund balances and debt. In addition, a score is provided for “Environmental Factors", such as socioeconomic conditions and property values, which are mostly outside of a school district's direct control. These, too, were deemed by the Comptroller to be too low in Roslyn to earn a fiscal stress designation.