NEW ROCHELLE, N.Y. -- The City School District of New Rochelle's fiscal health is improving according to a recent report from State Comptroller Thomas DiNapoli.
In fact, in the report, which rated fiscal stress, the district received its lowest score in four years.
"We're progressing along the path we want to go on, and it's not just the comptroller who's saying this, but Wall Street," said Jeff White, assistant superintendent for business at the school district.
DiNapoli's office initiated a monitoring system in 2012 that rates each school district's budget on a variety of fiscal factors, including end-of-year balances, deficits and borrowing habits, according to a release from the school district.
Designations of showing significant stress or moderate stress, or being susceptible to fiscal stress are assigned to districts the system rates as facing budgetary concerns, the release said. Districts rated as showing no fiscal stress aren't given a designation.
The City School District of New Rochelle was rated susceptible to fiscal stress for the third year in a row, but its score of 28.3 percent was its lowest score in four years, according to the release. In 2013, New Rochelle was considered moderately fiscally stressed with a 50-percent score, the release said.
White said the school district's improved fiscal health is a result of tighter financial management and controls, the development of balanced budgets, operating efficiencies and energy-efficient updates made to the district's buildings.
Renovations included in the $106.5 million capital improvement bond passed last year will also help lead to an even brighter financial picture, according to White.
The administration is very grateful for the community support of the bond, the release said.
"We're going to recognize a lot of savings in both maintenance and fuel because we're going to have new roofs, windows and doors, so we're going to be a lot more energy-efficient," White said. "Our efforts are working, and as a result we are hoping to fall off the (fiscal stress) list in the next couple of years."