Requires municipalities to submit a multi-year financial plan to the comptroller

Summary

The bill adds a requirement that any city, county, town or village in New York with an annual budget over $10 million must prepare and submit a multi‑year financial plan to the state comptroller within 120 days after its budget is adopted. The plan must project spending, revenues, employment and reserve levels for the next three fiscal years and outline actions to maintain fiscal stability. The goal is to give the comptroller better oversight of municipal finances and encourage long‑term fiscal health.

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