WELLSVILLE, Ohio (WYTV) – 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.