{"id":97431,"date":"2018-01-12T08:20:54","date_gmt":"2018-01-12T13:20:54","guid":{"rendered":"https:\/\/www.thevwindependent.com\/news\/?p=97431"},"modified":"2018-01-12T08:20:54","modified_gmt":"2018-01-12T13:20:54","slug":"grover-hill-in-state-of-fiscal-emergency","status":"publish","type":"post","link":"https:\/\/thevwindependent.com\/news\/2018\/01\/12\/grover-hill-in-state-of-fiscal-emergency\/","title":{"rendered":"Grover Hill in state of fiscal emergency"},"content":{"rendered":"<p><em>Submitted information<\/em><\/p>\n<p>COLUMBUS &#8212; Auditor of State Dave Yost on Thursday placed the Village of Grover Hill in a state of fiscal emergency after a fiscal analysis revealed a fund deficit and treasury deficiencies.<\/p>\n<figure id=\"attachment_97432\" aria-describedby=\"caption-attachment-97432\" style=\"width: 150px\" class=\"wp-caption alignright\"><img decoding=\"async\" class=\"size-full wp-image-97432\" src=\"https:\/\/www.thevwindependent.com\/news\/wp-content\/uploads\/2018\/01\/Auditor-of-State-Dave-Yost-headshot-1-2018.jpg\" alt=\"\" width=\"150\" height=\"249\" \/><figcaption id=\"caption-attachment-97432\" class=\"wp-caption-text\"><strong>Dave Yost<\/strong><\/figcaption><\/figure>\n<p>An analysis performed by the Auditor\u2019s Local Government Services Section (LGS) determined the village meets the criteria for a fiscal emergency due to a deficit in the Sewer Operating Fund totaling $122,916 and $91,192 as of December 31, 2016, and September 30, 2017, respectively.<\/p>\n<p>The analysis, requested by Grover Hill Mayor John Moon, also noted a sizeable deficit in the village\u2019s treasury balance. The deficit exceeded one-sixth of treasury receipts by $126,226 and $117,251 as of December 31, 2016, and September 30, 2017.<\/p>\n<p>\u201cA proactive approach is vital to a swift financial recovery,\u201d Yost said. \u201cI encourage village officials to act sooner rather than later to tackle these financial shortcomings. As always, my office is available to help.\u201d<\/p>\n<p>The village of 402 people 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 \u201cfinancial supervisor\u201d to the commission.<\/p>\n<p>A village is placed in fiscal emergency if any one of the six conditions described in Section 118.03 of the Ohio Revised Code exists.<\/p>\n<p>The six conditions are:<\/p>\n<ul>\n<li>Default on a debt obligation.<\/li>\n<li>Failure to make payment of all payroll.<\/li>\n<li>An increase in the minimum levy of the village which results in the reduction in the minimum levy of another subdivision.<\/li>\n<li>Significant past due accounts payable.<\/li>\n<li>Substantial deficit balances in village funds.<\/li>\n<li>A sizeable deficiency when the village\u2019s treasury balance is compared to the positive cash balances of the village\u2019s funds.<\/li>\n<\/ul>\n<p>A full copy of the fiscal emergency declaration is available online<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Submitted information COLUMBUS &#8212; Auditor of State Dave Yost on Thursday placed the Village of Grover Hill in a state of fiscal emergency after a fiscal analysis revealed a fund deficit and treasury deficiencies. An analysis performed by the Auditor\u2019s Local Government Services Section (LGS) determined the village meets the criteria for a fiscal emergency [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-97431","post","type-post","status-publish","format-standard","hentry","category-news"],"publishpress_future_action":{"enabled":false,"date":"2026-08-02 21:21:45","action":"change-status","newStatus":"draft","terms":[],"taxonomy":"category","extraData":[]},"publishpress_future_workflow_manual_trigger":{"enabledWorkflows":[]},"_links":{"self":[{"href":"https:\/\/thevwindependent.com\/news\/wp-json\/wp\/v2\/posts\/97431","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thevwindependent.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thevwindependent.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thevwindependent.com\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/thevwindependent.com\/news\/wp-json\/wp\/v2\/comments?post=97431"}],"version-history":[{"count":0,"href":"https:\/\/thevwindependent.com\/news\/wp-json\/wp\/v2\/posts\/97431\/revisions"}],"wp:attachment":[{"href":"https:\/\/thevwindependent.com\/news\/wp-json\/wp\/v2\/media?parent=97431"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thevwindependent.com\/news\/wp-json\/wp\/v2\/categories?post=97431"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thevwindependent.com\/news\/wp-json\/wp\/v2\/tags?post=97431"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}