Small Town in Dire Financial Situation

Posted: Updated:

A Miami County town is on the brink of bankruptcy. The Kokomo Tribune reports Bunker Hill has received a tax refund that will stave off a shutdown of all local services and result in the layoff of employees. Clerk-Treasurer Lisa Wilson says her predecessor, Sarah Betzner, severely mismanaged the town's ledger over the last three years.

Betzner resigned in January. For three consecutive years, she was unable to secure state approval for the town's annual budget, which has led to $19,000 in penalties and fees.

A shutdown would affect 8 town employees.

Wilson says the refund, which is derived from the town overpaying taxes in 2007, is a "last resort" to keep the town afloat.

Source: The Kokomo Tribune