Detroit

1:38pm

Fri July 26, 2013
Politics and Government

Comptroller DiNapoli: We can't let NY cities go bankrupt like Detroit

The city of Detroit’s declaration of bankruptcy has left some in New York wondering whether any upstate cities will be next. State officials say they are trying to help with financial planning guidance, but local governments say more needs to be done.

State Comptroller Tom DiNapoli has created a fiscal stress monitoring system that measures the financial health of New York’s local governments. A preliminary report found two dozen cities, counties and villages are moderately to severely fiscally stressed.

DiNapoli say he hopes they can avoid the fate of Detroit.

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