Fiscal supervisors: Niles making “tremendous strides”
For the first time since the state auditor declared the city in fiscal emergency nearly three years ago, its fiscal supervisors had nothing but good news for the commission that has overseen Niles spending since the declaration was issued.
“It’s all wonderful news,” said Tim Lintner, one of two state-appointed supervisors, told the Financial Planning and Supervision Commission Monday. “The city has made tremendous strides in rectifying cash balances (and) no department in the general fund exceeded its appropriations.”
Lintner cited the city’s water fund that began the year in the red by more than $790,000, but in the last nine months has managed to achieve a positive balance of more than $214,000. Lintner called it “an amazing turnaround.”
“We’re on the road to recovery,” said Mayor Thomas Scarnecchia, who sits on the commission.
The fund could face adjustments, however, as the city awaits the fate of a $1.2 million rebate promised by the Mahoning Valley Sanitary District, but questioned by the court that oversees the district. Should the rebate be withdrawn, Lintner has suggested that the city may want to increase the time line of several projects to keep the fund in the black.