REPORT: Jamestown Schools Removed From State Fiscal Stress List

JAMESTOWN-Jamestown Public Schools was recently removed from the state’s 2016 Fiscal Stress list according to a Wednesday announcement from Communications¬†Coordinator Cathy Panebianco.

Jamestown was previously listed as having “moderate” fiscal stress in the calendar years 2014-15. The list identified local governments and school districts with financial stress.

“Since 2012-13 and 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 superintendent Tim 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.

According to Panebianco, seventy-eight percent of Jamestown revenues come from state aid. Panebianco stated districts must used fund reserves and other financial means when state aid is lowered to balance their budgets, 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,” Mains said. “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.”