Fiscal Emergency Ended for Concord Township in Champaign County

Press Release •Ohio Auditor of State

COLUMBUS - Auditor of State Keith Faber formally terminated the fiscal emergency declaration for Concord Township in Champaign County on Friday after an analysis confirmed the officials had achieved financial stability.

"The community has worked hard to overcome its fiscal deficiencies and are on firm financial footing moving forward," Auditor Faber said. "Well done."

The fiscal emergency had been in place since March 2020, when deficit balances and treasury deficiencies prompted the creation of a Financial Planning and Supervision Commission to address ongoing budget issues.

Among other decisions, the township shifted inside millage and the balance of its road and bridge fund into the general fund and ceased providing health insurance to employees.

The township also had to satisfy the following requirements to be terminated from fiscal emergency:

• Adopted and implemented an effective financial accounting and reporting system.
• Corrected or eliminated all of the fiscal emergency conditions; no new conditions have occurred, and it appears that, based on the five-year forecast, the township will remain out of fiscal emergency during the forecast period.
• Met the major objectives of the financial recovery plan.
• Prepared a five-year forecast in accordance with standards issued by the Auditor of State, and the opinion expressed by the Auditor of State is "nonadverse."

The full fiscal termination report is available online at ohioauditor.gov/auditsearch/search.aspx.

With Friday's removal of Concord Township, there are now 13 communities with fiscal emergency declarations, including three cities, eight villages, and two townships. Eight of those have been in place for more than six years.

Additional information about fiscal distress declarations is available online at ohioauditor.gov/fiscal/local.html#emergency.

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The Auditor of State's Office, one of five independently elected statewide offices in Ohio, is responsible for auditing more than 5,900 state and local government agencies. Under the direction of Auditor Keith Faber, the office also provides financial services to local governments, investigates and prevents fraud in public agencies, and promotes transparency in government.

Public Affairs Contact: Marc Kovac [email protected]