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Taylor Places West Mansfield in Fiscal Emergency
Logan County -
Auditor of State Mary Taylor today announced a fiscal emergency in the village of West Mansfield. The determination was made as a result of a fiscal analysis conducted by the Auditor of State’s Local Government Services (LGS) section. West Mansfield Mayor Ed Evans requested the fiscal analysis.
“Officials in West Mansfield face some tough financial decisions in the weeks and months ahead,” Taylor said. “My office will continue to work with the village to identify potential cost savings and help to prevent future deficits.”
A fiscal emergency was declared following the fiscal analysis revealing a deficit of $226,339 on May 31, 2009.
When a village is placed in fiscal emergency, a commission is appointed by the state to help regain financial stability. The commission is responsible for approving a plan that details solutions for eliminating the specific areas of concern noted in the fiscal analysis. The plan should also balance the budget and present strategies to avoid future deficits.
The plan must be approved by the village and submitted to the Auditor of State within 120 days of the commission’s first meeting.
A copy of the full fiscal analysis is available online at www.auditor.state.oh.us.