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Galion City Council and the Financial Planning and Supervision Commission held a joint meeting on Oct. 4. There was just one item on the agenda: Releasing the city from fiscal emergency.
City and State officials, as well as several residents, were in attendance.
First, Financial Supervisor Belinda Miller summarized the city’s five-year forecast. “Based on our analysis, we determined that there is nothing in the forecast that would indicate fiscal emergency should not be terminated. The objectives of the financial recovery plan have been met,” she stated.
The forecast assumes that revenue sources will stay consistent, and the City will continue to monitor utility accounts and maintain current staffing levels.
The Financial Planning and Supervision Commission unanimously voted to release the city from fiscal emergency.
State Auditor Dave Yost, who was in attendance, noted that today marked a “restoration of integrity.” “The Financial health indicators show Galion is performing as well as many other cities in Ohio,” Yost commented. He recommended watching budget forecasts and taking corrective action when needed.
Yost then presented the mayor with a certificate of fiscal integrity.
“The people who really need thanked are the taxpayers and citizens of Galion who have been incredibly patient,” Mayor Tom O’Leary said.
He credited continuity in the city auditor’s office, assistance from the staff in the state auditor’s office, and having elected officials who are also city residents, for the city being in a position for release.
Galion has been in fiscal emergency since 2004.
Quinten Potter, chairman of the Financial Planning and Supervision Commission, recognized the three community members appointed by the governor: Ken Barker, Jim Graff, and LaMar Wyse.
The State Auditor issued a press release with further information.