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Taylor Releases City of New Carlisle from Fiscal Watch

Thursday, June 5, 2008

Clark County -

Auditor of State Mary Taylor today released the city of New Carlisle from fiscal watch. The city was placed in fiscal watch nearly five years ago due to a general fund deficit of more than $500,000 at the end of calendar year 2002.

Since the fiscal watch declaration, members of the Auditor of State’s Local Government Services (LGS) section have served as financial advisors to assist the district with its economic recovery.

“Our LGS section is a valuable resource for public entities in financial distress,” Taylor said. “I am pleased that my office was able to assist the district in resolving this financial situation and I commend city administrators for taking the steps necessary to get to this point.”

The city was placed in fiscal watch on June 9, 2003 due to its deteriorating financial condition and a general fund deficit of $513,113 as of December 31, 2002.

The Auditor of State’s Local Government Services section serves as a consulting and fiscal advisory group to all governmental agencies and subdivisions. The section issues publications, accounting manuals and advisory bulletins to assist local governments in performing their duties.

A copy of the complete analysis is available online at www.auditor.state.oh.us.

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