Taylor Declares Fiscal Emergency Status for Village of Bethel
Clermont County - Auditor of State Mary Taylor today announced a fiscal emergency in the Village of Bethel. The determination was made as a result of a fiscal analysis conducted by the Auditor of State’s Local Government Services section. Village Mayor James Dick requested the fiscal analysis.
“Village officials face tough financial decisions in the weeks and months ahead, but my office will provide assistance where we can to help them improve their situation and restore financial stability as soon as possible,” Taylor said.
A fiscal emergency was declared because the fiscal analysis revealed the village had deficit fund balances of $401,178 and $340,766 as of December 31, 2009 and May 31, 2010, respectively.
When a village is placed in fiscal emergency, a seven-member commission is appointed by the state to help the village regain financial stability. The commission is responsible for approving a plan that details solutions for eliminating the fiscal emergency conditions. 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 commission within 120 days of the commission’s first meeting.
A copy of the declaration 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.
Deputy Press Secretary