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Fiscal Stress- the inability of an entity to generate enough revenues within the current fiscal period to meet its expenditures. 4. Four Components of Financial Condition. Solvency of Each Fund.
What does fiscal mean in simple terms?
financial pressure. economic stress. financial crisis. financial troubles. worsening of the economic conditions.
What does fiscal stress mean?
For the purposes of the Fiscal Stress Monitoring System, OSC has defined fiscal stress as the inability of an entity to generate enough revenues within the current fiscal period to meet its expenditures. Essentially the System assesses each entitys budgetary solvency.
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Fiscal Stress Monitoring SystemOffice of the ComptrollerNYS osc Local GovernmentState Financial ServicesNys open book tax capNYS Fire District Accounting and Reporting ManualU.S. ComptrollerOffice of the State Comptroller CT
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