Auditor Warns Several Cities Of Potential Financial Emergency

12 hours ago
Originally published on October 11, 2018 3:45 pm

The state auditor is following up on a warning he sent to several cities in December, that they’re still showing signs of financial stress. The analysis indicates some of those cities could now be on the verge of a fiscal emergency.

Seven cities are under fiscal stress in Auditor Dave Yost’s financial health indicator report:

  • Akron
  • Canton
  • Alliance
  • Fostoria
  • Parma Heights
  • Norwood
  • Powell

Nine other cities are very close to being put in that category:

  • Bowling Green
  • Cincinnati
  • East Cleveland
  • Lorain
  • North College Hill
  • Riverside
  • Upper Sandusky
  • Warren
  • Youngstown

The report also found more than 100 cities are spending more than they’re taking in. While he agrees with the state’s original cuts to cities and counties, Yost believes it’s time to re-evaluate how Ohio funds local governments.

“A great deal of what the state government does is accomplished through cities and counties and villages it’s a fair, moral position to say that the state ought to defray some of those costs,” says Yost.

Yost says this report shows a 33% increase in communities facing fiscal stress from his report late last year.

Copyright 2018 The Statehouse News Bureau. To see more, visit The Statehouse News Bureau.