Wellsville placed under fiscal emergency
WELLSVILLE — For the third time, the village of Wellsville has been placed under fiscal emergency by the state auditor’s office.
State Auditor Dave Yost, via a press release Tuesday, made the declaration following an analysis conducted by the auditor’s Local Government Services (LGS), as requested by Mayor Nancy Murray.
The LGS discovered deficit fund balances totaling $93,021, as of Dec. 31, 2015, and $28,710, as of May 31, 2016.
The village will now come under the oversight of a financial planning and supervision commission, to which the commission must develop a plan to eliminate the conditions within 120 days of its first meeting. The Auditor of State will act as its “financial supervisor” to the commission.
More on this story available Wednesday in The Review.