Commission asks state to lift Niles fiscal emergency

NILES

The fiscal commission that has overseen Niles finances for more than four years voted unanimously today to request the state auditor to remove the city from fiscal emergency.

The commission was created shortly after October 2014 when state Auditor Dave Yost declared the emergency due to multi-million dollar critical fund deficits.

The resolution, introduced by commission Chairman Quentin Potter, followed positive reports from auditors Thursday showing successful implementation by the city of its financial recovery plan and positive fund balance projections as required by state law .

By law, the state auditor has the final say on release from fiscal emergency, a decision that is not expected until early next year after Keith Faber, the state auditor-elect, takes office. Assuming Faber agrees with the recommendation, the commission will meet one last time to dissolve.