Fiscal Caution, Watch, and Emergency
For Immediate Release
COLUMBUS – Auditor of State Keith Faber declared a fiscal emergency Thursday for Madison Township in Fairfield County, after an analysis of the township’s finances confirmed fund deficits that exceeded what is allowed under state law.
For Immediate Release
A substantial deficit in township funds prompted Auditor of State Keith Faber to place Wayne Township (Auglaize County) into fiscal watch today.
Past due accounts payable, deficit fund balances, and a treasury deficiency prompted Auditor of State Keith Faber today to place the Village of Newtonsville (Clermont County) in fiscal emergency.
Today Auditor of State Keith Faber released Franklin Township (Richland County) from fiscal caution status.
Auditor of State Keith Faber released the City of Niles (Trumbull County) from fiscal emergency today because of their improved financial practices and elimination of fund deficits.
Auditor of State Keith Faber today placed Niles City School District in a state of fiscal emergency after the school district failed to comply with their state approved financial recovery plan.
Significant deficiencies and material weakness, indeterminable fund balances, and unreconciled journals and ledgers has prompted Auditor of State Keith Faber to place the Village of Harrisburg (Franklin County) in a state of fiscal caution.
St. Clair Township has regained financial stability after spending more than four and a half years in a state of fiscal emergency, Auditor of State Dave Yost announced today.
Auditor of State Dave Yost today placed the Village of Bridgeport in a state of fiscal emergency after the village defaulted on outstanding debts.
Newton Township in Trumbull County has regained financial stability after spending six years in a state of fiscal caution, Auditor of State Dave Yost announced today.
The City of Chillicothe has restored its financial health after spending six years in a state of fiscal caution, Auditor of State Dave Yost announced today.
Auditor of State Dave Yost today released Rush Township in Scioto County from fiscal caution – a designation it has held since 2014.
Financial stability has returned to the Village of Manchester, where officials and citizens have spent the past 21 years navigating the longest financial crisis in state history.
Cities Challenged to Address Buildings, Infrastructure and Other Capital Needs
Auditor of State Dave Yost today released a report on the latest Financial Health Indicators for Ohio’s cities and counties which shows 100 cities are spending more than they take in and are relying on reserves to stay in the black. The data also show delayed investment by many of Ohio’s 247 cities into capital assets, such as buildings, infrastructure and other large capital purchases.
The City of Galion has achieved financial stability by erasing $8 million in fund deficits and addressing a $4.4 million treasury deficiency, Auditor of State Dave Yost announced today.
The Ohio Auditor of State’s “Financial Health Indicators” (FHI) tool has earned a Government Experience Award from the Center for Digital Government, recognizing the office for its achievement in technology.
The Village of Tiro has achieved financial stability after spending almost six years in a state of fiscal emergency, Auditor of State Dave Yost announced today.
Auditor of State Dave Yost today elevated the Niles City School District to a state of fiscal watch after its Board of Education failed to put forth a financial recovery plan.
Auditor of State Dave Yost today elevated the City of Alliance (Stark County) to a state of fiscal watch after city officials failed to put forth an acceptable financial recovery plan.
Auditor of State Dave Yost today announced that the Brookfield Local School District (Trumbull County) has achieved financial stability after spending almost five years in fiscal emergency.
By Dave Yost, Ohio Auditor of State
Few things can be as traumatic to a county, school district, city, village or township as being declared to be in fiscal emergency as a result of defaulting on debt, failing to make payroll or running fund deficits.
Few things can be as traumatic to a county, school district, city, village or township as being declared to be in fiscal emergency as a result of defaulting on debt, failing to make payroll or running fund deficits.
Dwindling balances in more than a dozen funds today prompted Auditor Yost to place the City of Alliance (Stark County) in a state of fiscal caution.
Auditor of State Dave Yost today placed the Village of Grover Hill (Paulding County) in a state of fiscal emergency after a fiscal analysis revealed a fund deficit and treasury deficiencies.
Enhancements to ‘FHI’ Tool Allow for Deeper, Regional Analysis
Nine cities and one county are showing signs of financial stress for fiscal year 2016, with nearly two-thirds of Ohio’s county governments showing an increase in the number of “critical” or “cautionary” warnings, according to the second annual “Financial Health Indicators” report.
Auditor of State Dave Yost today released the Village of West Mansfield (Logan County) from fiscal emergency after local officials took steps to put the village back on a sound financial footing.
Auditor of State Dave Yost today announced that Bloom Township (Scioto County) has regained financial stability after spending more than 12 years in fiscal emergency.
Auditor Yost today released the Village of Leipsic (Putnam County) from fiscal emergency, a status it held for more than seven years.
The Village of Bloomingburg (Fayette County) today became just the second local government to be released from the state’s fiscal caution designation without slipping further into fiscal distress.
Auditor of State Dave Yost today announced that the Village of Patterson (Hardin County) has achieved financial stability after spending more than four years in fiscal emergency.
Auditor of State Dave Yost today announced that the Village of Portage (Wood County) has achieved financial stability after spending nearly 8 1/2 years in fiscal emergency.
Auditor of State Dave Yost today announced that the City of Wellston (Jackson County) has achieved financial stability after spending nearly eight years in fiscal emergency.
Auditor Yost today released the Village of Edgerton (Williams County) from fiscal emergency, a status it held for more than three and a half years.
The following statement may be attributed to Auditor Dave Yost regarding the passage of House Bill 103. The legislation makes numerous changes to the membership of financial planning and supervision commissions, which assist local governments in escaping from fiscal emergency.
Auditor of State Dave Yost today placed the Village of Mount Sterling (Madison County) in a state of fiscal emergency due to substantial deficit fund balances.
Auditor of State Dave Yost today issued the following statement regarding the release of Central State University (Greene County) from fiscal watch by the Ohio Department of Higher Education.
Auditor of State Dave Yost today released the City of Massillon (Stark County) from fiscal emergency, a status it held for more than three years.
Auditor of State Dave Yost today released the Bellaire Local School District (Belmont County) from fiscal emergency, a status it held for more than seven years.
Auditor of State Dave Yost today issued the following statement regarding the pending release of Owens State Community College from fiscal watch by the Ohio Department of Higher Education.
Auditor of State Dave Yost today released the East Knox Local School District (Knox County) from fiscal emergency, a status it held for more than two years.
Updated financial data for Fayette County shows the entity is not in high fiscal stress. The recently-released Financial Health Indicators tool identified Fayette as one of 16 cities and/or counties that had the characteristics of highly stressed entities.
Ohio Auditor of State Dave Yost today released a new tool to help cities and counties better assess their financial health and make informed budgetary decisions to avoid potential future fiscal stress.
Auditor of State Dave Yost today released the Mansfield City School District (Richland County) from fiscal emergency, a status it held for three years.
Auditor of State Dave Yost today placed the Village of Wellsville (Columbiana County) in a state of fiscal emergency for its third time, the most for any local government since the designation was created in 1979.
Auditor of State Dave Yost today released the Village of Lakemore (Summit County) from fiscal emergency, a status it held for more than six years.
Auditor of State Dave Yost elevated the City of Norwood (Hamilton County) to a state of fiscal emergency today as a result of deficit fund balances. The city has spent the past 12 years in fiscal watch.
Auditor of State Dave Yost today released the Niles City School District (Trumbull County) from fiscal watch, a status it held for more than 13 years.
Auditor of State Dave Yost today released the Village of Newcomerstown (Tuscarawas) from fiscal emergency, a status it held for more than four and a half years.
Auditor of State Dave Yost placed the City of Fostoria in a state of fiscal emergency today as a result of deficit fund balances.
Auditor of State Dave Yost placed the Village of Newtonsville (Clermont County) in a state of fiscal caution today and added it to the “unauditable list” as a result of significant deficiencies in its financial records.
The inability to submit an acceptable financial recovery plan that eliminates the projected current year deficit prompted Auditor of State Dave Yost to place the Coventry Local School District (Summit County) in a state of fiscal emergency.
Auditor of State Dave Yost today released Hamilton Township (Warren County) from fiscal emergency, a status it has held since April 2014.
Past due accounts payables, deficit fund balances and a treasury deficiency prompted Auditor of State Dave Yost today to place the Village of Clarksville (Clinton County) in a state of fiscal emergency.
Default on debt and past due accounts payables prompted Auditor of State Dave Yost today to place the Village of Green Camp in a state of fiscal emergency.
Auditor of State Dave Yost today released Village of New Bavaria (Henry County) from fiscal emergency, a status it has held since May 2010.
Auditor of State Dave Yost today released Village of Willshire (Van Wert County) from fiscal emergency, a status it has held since December 2005.
Auditor of State Dave Yost today released Village of Morral (Marion County) from fiscal emergency, a status it has held since May 2013.
Auditor of State Dave Yost today released the City of Akron from fiscal caution – a designation it has held since 2011.
Defaulting on a debt obligation prompted Auditor of State Dave Yost today to place the village of Smithfield (Jefferson County) in a state of fiscal emergency.
Defaults on three loans and a significant deficit fund balance prompted Auditor of State Dave Yost today to declare the City of Maple Heights in a state of fiscal emergency.
The inability to adopt a financial recovery plan while under fiscal watch prompted Auditor of State Dave Yost today to place the East Knox Local School District in a state of fiscal emergency
Auditor of State Dave Yost today released the Cloverleaf Local School District (Medina County) from fiscal emergency, a status it has held since January 2012.
Southern Local School District (Perry County) could turn a projected $730,000 deficit into a $1.4 million surplus by implementing performance audit recommendations released today by Auditor of State Dave Yost.