Ohio Auditor Dave Yost made the declaration Thursday following the completion of a fiscal analysis requested by Newcomerstown Mayor James Friel.
The analysis determined that a fiscal emergency condition exists due to a growing deficit in the village’s cemetery fund. It found that the cemetery fund had a deficit of $138,668 as of December 31, 2011. By the end of April 2012, the amount had grown to more than $151,000.
Yost said in statement, “that the village of Newcomerstown will undoubtedly have some difficult decisions to make in the upcoming weeks and months."
Yost says his office will be available to assist officials in bringing financial stability back to the village.
Because a fiscal emergency has been declared, a Financial Planning and Supervision Commission will have to be formed.
The commission’s responsibility is to approve a detailed financial recovery plan for the village.
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