Auditor of State: Wellsville in fiscal emergency for third time

The village received more fiscal emergency designations than any local government since the designation was created in 1979

negative audit generic

WELLSVILLE, Ohio (WKBN) – Auditor of State Dave Yost placed the Village of Wellsville in a state of fiscal emergency for the third time — the most for any local government since the designation was created in 1979.

The Auditor said a financial analysis requested by the mayor determined that the village’s deficit fund balances totaled $93,021 and $28,710 as of Dec. 31, 2015 and May 31, 2016, respectively.

The village previously spent more than four years in fiscal emergency from August 2001 to December 2005 and nearly five years from June 1984 to March 1989, according to a news release from Yost’s office.

“Wellsville has a long history of financial struggles,” Yost said. “There’s obviously an underlying problem at hand, and I encourage village officials to work with my office to root it out for good.”

The village will now come under the oversight of a financial planning and supervision commission. Within 120 days of its first meeting, the commission must develop a plan to eliminate the fiscal emergency conditions. The Auditor of State serves as the “financial supervisor” to the commission.

A full copy of the fiscal emergency declaration is available online.

WKBN 27 First News provides commenting to allow for constructive discussion on the stories we cover. In order to comment here, you acknowledge you have read and agreed to our Terms of Service. Commenters who violate these terms, including use of vulgar language or racial slurs, will be banned. No links will be permitted. Please be respectful of the opinions of others. If you see an inappropriate comment, please flag it for our moderators to review.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s