State auditor places Niles in a state of fiscal emergency

Columbus – Substantial deficit fund balances prompted Auditor of State Dave Yost today to place the city of Niles in a state of fiscal emergency.

“The city of Niles faces a dire financial challenge,” Auditor Yost said. “This office stands prepared to help the city conquer it.”

At the request of Mayor Ralph Infante, Jr., a fiscal analysis was performed to determine whether the city’s financial condition justified a fiscal distress declaration. The analysis determined that the city had deficit fund balances of $487,973 and $61,093 at December 31, 2013, and July 31, 2014, respectively.

The city will now come under the oversight of a Financial Planning and Supervision Commission.

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