Taylor Releases Village of Woodstock from Fiscal Emergency

Wednesday, June 30, 2010

Champaign County - Auditor of State Mary Taylor announced that the village of Woodstock has been released from fiscal emergency.  The village was originally placed in fiscal emergency four years ago based on deficit funds.

“This announcement is welcome news for the entire community and I commend village officials for their work,” Taylor said.  “I am pleased that my office was able to assist the village in restoring financial stability.”

The Auditor of State’s Office declared a fiscal emergency in Woodstock on July 20, 2006 after a fiscal analysis showed deficit funds of $14,947 on December 31, 2005 and $15,769 on May 31, 2006.  Since that time, the Auditor of State’s Local Government Services section has worked extensively with local officials to help eliminate the deficit and correct other financial problems.

Taylor’s announcement effectively dissolves the state commission formed in 2006 to oversee the financial recovery of the village.

A copy of the complete analysis is available online.

The Ohio Auditor of State’s office is a leader in the government accounting and auditing field, earning prestigious national honors from the Government Finance Officers Association, the National White Collar Crime Center and the National State Auditors Association.

Julia Debes
Deputy Press Secretary
(614) 644-1111