FISCAL EMERGENCY TIME LINE


January 31, 2012 at 12:00a.m.

FISCAL EMERGENCY TIME LINE

State auditors place Girard in fiscal emergency Aug. 8, 2001.

The city had a $2.2 million deficit in 2001.

After layoffs and attrition, the city had a $700,000 general fund surplus in 2006.

Indalex, the city’s largest employer, closed in 2008, laying off 300 workers and ending hopes of exiting fiscal emergency.

V&M Star expands into Girard in 2010, and the city gains income-tax revenue.

Girard ends 2011 with a $600,000 surplus in its general fund.

Source: Vindicator files