MISI Score
28.9
Watch
Project NC / Cumberland County
Stedman
BOTH · Cumberland CountyDistressedPWSID NC0326030
Score Confidence
0.8%
Peer Percentile
92.1th
As of
Jun 2, 2026
EXPLANATION
Score Drivers
- MISI score is 28.889 (Watch).
- Lead & Copper Rule Risk adds 7.994 points. Lead and copper risk contributes +8 because direct lead sample exceedances were recorded: lead sample exceedances=2, copper sample exceedances=0, legacy action-level exceedances=0, open LCR violations=0. variance weighting adjusted headline contribution from 8 to 7.994.
- Compliance Escalation adds 5.929 points. Operational compliance contributes +6: 7 violations or enforcement actions have been recorded within the last three years. variance weighting adjusted headline contribution from 6.000000 to 5.929.
- Climate Hazard Exposure adds 5.398 points. Operational climate hazard exposure contributes +6: FEMA NRI composite score is 89.4700. variance weighting adjusted headline contribution from 6 to 5.398.
- High-AGI Out-Migration adds 3.994 points. Revenue-fragility AGI outmigration contributes +4: net AGI migration is -141890.00 (thousands, tax year 2022). variance weighting adjusted headline contribution from 4 to 3.994.
- Missing or unresolved factors: Infrastructure Capital Gap, PFAS Contamination Risk, Parent-Government Fiscal Stress.
MARKET INTERPRETATION
What the data suggests
Stedman is a smaller community water system, serving approximately 1,705 residents. At the latest reading, Munimetric flags the system as showing early but meaningful signs of structural stress.
The score is being driven mainly by Operational Stress, which is running high in the model, with Capex Pressure adding further pressure. In other words, Operational Stress is doing most of the heavy lifting in the headline score.
6 active stress signals are attached to this system, including 3 at high severity. That signal mix points to a system where several warning indicators are firing at once, not just one extreme outlier.
Within its peer cohort, this system ranks around the 92nd percentile on measured stress, placing it among the more stressed systems in its peer group.
Recent score history has been relatively steady, consistent with the system's overall profile.
This summary is based on structured, source-backed public data and is intended for research and monitoring only. It is not investment advice, a credit opinion, or municipal advisory guidance.
SCORE STACK
Family Contributions
Operational Stress15.3 / 20.0
Capex Pressure8.0 / 20.0
Revenue Fragility5.6 / 20.0
Rate Constraint0.0 / 20.0
Governance Risk0.0 / 20.0
SL 2020-79
SWIA Assessment History
| 2024 | 2023 | 2022 | 2021 | 2019 |
|---|---|---|---|---|
| 9 | 1 | 2 | 7 | 4 |
ACTIVE SIGNALS
6 Signals
Lead & Copper Rule Risk
Lead and copper exceedances and replacement obligations can drive near-term treatment and capital pressure.
Score impact: 8.0 · Family: Capex Pressure
High-AGI Out-Migration
High-AGI outmigration erodes the rate base and compresses affordability headroom.
Score impact: 4.0 · Family: Revenue Fragility
Days Cash on Hand
Weak unrestricted liquidity reduces the utility's ability to absorb rate, capex, or operating shocks.
Score impact: 1.6 · Family: Revenue Fragility
Compliance Escalation
Repeated or serious compliance failures often indicate rising operational and infrastructure stress.
Score impact: 5.9 · Family: Operational Stress
Climate Hazard Exposure
Elevated drought and flood exposure raises outage, source-water, and infrastructure reliability stress.
Score impact: 5.4 · Family: Operational Stress
Current Drought Severity
Active drought conditions stress source-water availability and treatment operations.
Score impact: 4.0 · Family: Operational Stress
HISTORY
Score Trend
Latest
28.9
Trend
+28.9
Observations
48
NC TREASURER FBA
Financial Benchmarks
Population1,317
General Fund Expenditure$858K
Fund Balance Available$684K
Fund Balance %79.7%
Cash & Investments$1.8M
Assessed Valuation$114.1M
Tax Rate0.3
Effective Tax Rate0.2
Tax Collection %99.1%
Amount Uncollected$3K
Days Cash on Hand
163
Days Cash As Of
Jun 30, 2024
Population Served
1,705