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Article: Financial recovery plan OK'd ; A state audit showed the village had overspent its budget by more than $2 million in 2005-06.
- Article from:
- Dayton Daily News
- Article date:
- October 17, 2008
- Author:
CopyrightCopyright 2008 Dayton Daily News. Provided by ProQuest LLC. (Hide copyright information)
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WAYNESVILLE -- Improper accounting and lax oversight led this
village to overspend its budget by more than $2 million in fiscal
years 2005 and 2006, according to a report released Thursday, Oct.
16, by state Auditor Mary Taylor.
Fiscal mismanagement and poor record-keeping contributed to a
significant delay in the audit process, according to the report.
Taylor placed the village in fiscal emergency April 15 because of a
$538,102 deficit. As a result, the auditor's Local Government
Services section is serving as the village's financial adviser.
"Waynesville officials have a lot of hard work ahead of them as
they seek financial stability," Taylor said. "... I encourage
Waynesville officials ...