Budget and Finances

Pursuant to Article 3, Section 31 of the General Municipal Law (GML), every local government must annually file a financial report with the NYS Comptroller no later than 60 days after the end of the previous fiscal year.

The NYS Comptroller's Fiscal Stress Monitoring System informs public officials and taxpayers about factors that impact local governments’ fiscal health. It evaluates local governments on financial indicators including year-end fund balance, cash-on-hand, short-term borrowing, fixed costs and patterns of operating deficits and creates fiscal stress scores.

The system also evaluates information such as population trends, poverty and unemployment in order to establish a separate “environmental” score for each municipality, which can be used to help describe the context in which Newport and other local governments operate.

Pursuant to Town Law Section 125, the Town Supervisor must provide monthly financial reports to the Town Board at their regular Town Board meetings each month for their review.