State Comptroller: 12 WNY School Districts "Fiscally Stressed"

January 16, 2014 Updated Jan 16, 2014 at 4:00 PM EDT

By Mitch Simon

...

State Comptroller: 12 WNY School Districts "Fiscally Stressed"

January 16, 2014 Updated Jan 16, 2014 at 4:00 PM EDT

WESTERN NEW YORK (WKBW) - State Comptroller Thomas DiNapoli announced today that 87 school districts statewide have been designated as "fiscally stressed" under his Fiscal Stress Monitoring System.

12 of those 87 districts are located in the eight counties of Western New York. They include:

Bemus Point Central School District
Byron-Bergen Central School District
Ellicottville Central School District
Evans-Brant Central School District
Frontier Central School District
Holland Central School District
Lackawanna City School District
Lewiston-Porter Central School District
Kendall Central School District
Niagara Falls City School District
Niagara-Wheatfield Central School District
West Seneca Central School District

According to DiNapoli, school districts found to be in fiscal stress share a number of common characteristics, including operating with low fund balance, operating deficit, and limited cash on hand.

These districts were also found to have a much higher likelihood of using short-term borrowing to bridge cash flow gaps.

For the full list, and to read the full report, click HERE.