Campbell expects to gain release from fiscal emergency

Campbell expects to gain release from fiscal emergency

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Campbell is on track to ask for release from fiscal emergency in January.

If the city’s financial position remains good, a commission that has overseen it since it entered fiscal emergency status in 2004 will petition for the release, said the panel’s chairwoman, Sharon Hanrahan, at a commission meeting Monday.

The city will need to complete its financial accounting statements for 2012, said Nita Hendrix, a commission member from the state auditor’s office.

The city also must address audit recommendations and noncompliance findings in the 2010-11 state audit, and must have a positive five-year financial forecast, Hendrix said.

Mike Evanson, the city’s financial director, said he has addressed the audit issues, and he provided the commission with details.

The five-year forecast looks good, Hendrix said, provided renewal levies keep passing.

City council President George Levendis pointed out that another criteria for getting out of fiscal emergency was reconciling a backlog of monthly bank statements to the city’s books, and that has been done.