Less than an week after conducting an "unscheduled review" of Lincoln Heights' finances, state auditors determined the village does not meet the standards required by law to be placed in a fiscal distress status, Auditor Dave Yost announced.
“While the village’s budget continues to be tighter than two coats of paint, it’s paying its bills,” Yost said in a prepared statement Monday.
"The village doesn’t meet the standards for any type of fiscal distress oversight. We have been and remain concerned about its fiscal health and will continue to monitor the situation.”
"In order for the Auditor to designate a governmental entity in any of the three levels of fiscal stress – fiscal caution, fiscal watch or fiscal emergency – certain circumstances must be present. At this time, those circumstances are not present. Specifically:
The village is current on its pension obligations, being fully paid through 2015.
The village’s payables, including its obligations to the Hamilton County Sheriff’s Office, are within 30 days of being paid.
Members of the audit staff will continue in Lincoln Heights as part of a regularly scheduled financial audit, Yost added.