Latimer Returns Westchester’s Finances Back to Solid Fiscal Ground
When County Executive George Latimer first took office in 2018, one of his top priorities was restoring the County’s finances to solid, fiscal ground. According to the New York State Comptroller, Westchester’s finances have improved dramatically for fiscal year 2021, with the County’s fiscal stress score raised to “no designation” – the highest category achievable. Coupled with the County’s bond ratings now standing at “stable” by all three major rating agencies, Latimer has put the County’s finances on the path to fiscal success.
Latimer said: “This designation is the result of more than four full years of smart, prudent fiscal management, no matter what variables were thrown our way. We have always had a plan in place to improve the County’s finances, and that plan has been successfully executed as proven by the New York State Comptroller’s Office. Our fiscal stress score dropped significantly from 56.7 to 14.6 in just one year, a direct result of exceptional 2021 financial results.”
Westchester County Commissioner of Finance Karin Hablow said: “This is great news for Westchester County taxpayers. This administration has worked extremely hard to increase our reserves, cut taxes and implement fiscally responsible budgets. This score represents an independent validation that tax dollars are being managed responsibly under the leadership of County Executive Latimer.”
With the County’s fiscal stress score at “no designation,” and all three major bond rating agencies listing the County in “stable” condition, Latimer looks forward to further improving the County’s fiscal outlook throughout his second term as County Executive.
