City Under Financial EmergencyPosted: Updated:
Connersville Mayor Leonard Urban says he is not sure how long the city will remain in a state of financial emergency. The News-Examiner reports, as of May 1, the Fayette County city will not have enough money in its general fund to cover payroll and other expenses. The declaration gives the mayor and Clerk-Treasurer Julie Greeson the authority to "alleviate the emergency to the greatest possible extent including elimination of overtime pay and other measures."
The publication reports Connersville is currently $350,000 short of its 2014 budget appropriations.
Since Urban took office in 2008, the city has lost more than $3 million in revenue The mayor attributes the performance to the Visteon plant's closure, which he says has deprived Connersville of an estimated $100 million in assessed value. Urban also blames statewide property tax caps that took affect in 2009.
Source: The News-Examiner