Champaign County township in fiscal emergency after deficits found

ajc.com

News
March 3, 2020
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Concord Twp. in Champaign County was deemed in fiscal emergency after state auditors found the deficit balances in township funds and a deficiency in the township’s treasury balances, according to Ohio Auditor Keith Faber’s office.

The township’s general fund deficit exceeds the limit by $63,941 and the treasury deficit exceeds the limit by $20,888.

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A fiscal analysis of the township determined that as of Dec. 31, Concord Twp. qualified for two of the six conditions needed to be in fiscal emergency, according to the auditor’s office.

The auditor’s office can declare a fiscal emergency is any of the following conditions exist:

  • Default on debt obligation
  • Failure to make a payment of all of payroll
  • Increase in minimum levy of the village which results in the reduction in the minimum levy of another subdivision
  • Significant past due accounts payable
  • Substantial deficit balance in funds
  • Deficiency when the village's treasury balance is compared to the positive cash balance of the village's funds

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