RICHMOND HEIGHTS—Today, State Senator Kenny Yuko (D-Richmond Heights) issued the following statement after Auditor of State Dave Yost announced that the City of Maple Heights will be moved from fiscal watch to fiscal emergency: 

“I want to extend my support to Mayor Lanskey, the City Council, and the residents of Maple Heights during this time,” said Senator Yuko. “My office will be of service in any way it can in the upcoming months during what will be a difficult decision making process.”

A city is placed in fiscal emergency if any one of the six conditions described in Section 118.03 of the Ohio Revised Code exists. The six conditions are: 1) default on a debt obligation; 2) failure to make payment of all payroll; 3) an increase in the minimum levy of the city which results in the reduction in the minimum levy of another subdivision; 4) significant past due accounts payable; 5) substantial deficit balances in city funds; and 6) a sizeable deficiency when the city’s treasury balance is compared to the positive cash balances of the city’s funds. 

The city will now come under the oversight of a Financial Planning and Supervision Commission.  A financial plan must be developed by the mayor and approved by the commission within 120 days of its first meeting to address the city’s financial crisis.

 
 
 
  
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