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Village of Cambridge, NY

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April 23.2025

Understanding the Village’s Fiscal Stress Score

What’s This All About?Recently, the New York State Comptroller’s Office released its annual Fiscal Stress Monitoring Report, and Cambridge appeared on the list. That got some attention — and understandably so.Let’s clarify what this means, what it doesn’t mean, and where we go from here. The Board of Trustees has been transparent every step of the way — from the decisions made in 2023 to the ongoing planning we're doing now.It’s a score based on past data — specifically, the budget adopted back in April 2023. That’s nearly two budget cycles ago. It reflects choices made with residents in mind, during a period when inflation was high and everything from groceries to heating fuel was costing more. How Did We Get Here?Here’s what led to the score:The Village used fund balance that had been built up since 2015 to invest in public safety — things like airpacks, a firetruck, and parts of the new firehouse that weren’t covered by the loan.The tax rate increase was held to just 0.43%, even as the Village absorbed rising costs and completed long-planned public safety upgrades. The Village remained within just $61 of the state’s maximum levy limit — a clear sign of disciplined budgeting.The Comptroller’s model flags municipalities for drawing down reserves, even if that spending is intentional and aligned with long-term planning.So while the Village did spend, it spent on purpose — and on needs that were known and planned for.What Does the Score Really Mean?It’s important to understand how the state’s system works. The fiscal stress score is essentially a snapshot — one that doesn't always show the whole picture. It doesn’t look at why money was spent, just how much was spent and how much is left in reserves. So a village that spends wisely on public safety can score lower than one that stockpiles cash but delays upgrades.This score isn’t a warning light — it’s a report card from a moment in time. But that doesn’t mean we ignore it. We use it to inform smarter choices moving forward.What Are We Doing About It?Here’s what we’re already doing to strengthen the Village’s financial footing:Creating department-specific reserve funds to keep future equipment needs on trackAligning major purchases with lifecycle-based planning, so we replace things before they failImproving how we forecast, track, and value Village assets for long-term decision-makingCoordinating closely with the Treasurer’s Office to integrate those strategies into the annual budget processThese aren’t flashy moves — they’re practical ones. They build predictability into our budget and ensure that future Boards have the tools they need to plan, not just react.Where We Go From HereCambridge has never been about cutting corners or chasing headlines. We take care of each other. We make the hard decisions. And when something needs to be fixed — whether it’s a fire truck or a funding model — we get to work.So yes, we made big investments in public safety. Yes, we kept taxes low. And yes, that created a score we now have to manage. But the Village is in capable hands, and our plan is already in motion.If you’ve got questions, talk with any member of the Board of Trustees or join us at a Board meeting. Our door’s always open — because Cambridge works best when we work together.

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March 12.2025

Budget & Fuel Planning Update

As part of our commitment to transparency and responsible budgeting, we’ve been reviewing the Village’s fuel expenses to ensure that our records are accurate and our resources are being used efficiently.At a recent budget workshop, discussions highlighted some challenges in tracking fuel deliveries across different Village-owned buildings. The goal is to improve how fuel costs are recorded so that budget allocations align with actual usage. Clear and accurate reporting is essential for planning future expenses and ensuring that Village operations run smoothly.To help address this, we are reviewing our current fuel vendor agreements and exploring ways to improve invoice accuracy. This effort will help ensure that each department—from emergency services to public works—has the fuel they need while keeping financial records precise and up to date.These steps are part of a larger effort to strengthen financial oversight and improve Village services. We appreciate the hard work of our Village staff and officials in keeping Cambridge running efficiently, and we will continue to share updates as we move forward.Stay informed! Follow our online journal for regular updates on Village operations and budgeting.

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The Village of Cambridge, NY community update provides residents with timely local government news, Board of Trustees updates, and information about community happenings and events.