Jamestown Schools Removed from NYS Fiscal Stress List

Jamestown Public School has been notified that Comptroller DiNapoli has removed the district from the 2016 New York State Fiscal Stress list, which identifies local governments and school districts that are experiencing financial stress. Jamestown School was previously included on the list as having “moderate fiscal stress” in the calendar years 2014 and 2015.

“Since 2012-13 & 2013-14 when the district had large reductions to state aid causing it to fall onto the fiscal stress list, we have taken steps to address the designation given by NYS with a successful outcome,” said JPS Superintendent Tim O. Mains. “We have been able to make our district’s financial position more secure by undertaking cost-cutting measures within the district, combined with the receipt of increased state aid in 2014-15 and 2015-16.”

Districts like Jamestown are most affected when state aid is decreased. Seventy-eight percent of Jamestown revenues come from state aid. If aid is lowered, districts like Jamestown must use fund reserves and other financial means to balance their budgets often putting them in jeopardy of landing on the fiscal stress list.

“We do not expect to be included on the fiscal stress list again anytime soon,” said Superintendent Mains. “However, if state aid goes through another cycle of cuts, due to Jamestown’s dependence on aid, we will again show up with an adverse fiscal stress indicator.”

posted on 02/01/2017 - filed under: Spotlight