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State takes over Hamilton Townships finances
HAMILTON TOWNSHIP, Ohio (Brad Underwood) -- The state of Ohio will take over a local township's finances after the state auditor declares a fiscal emergency.
Hamilton Township Trustees say it will be a challenge but they are confident the township will climb out of the current deficit that has put them in fiscal emergency. Ohio State Auditor, Dave Yost, has officially declared the emergency after finding the township had a deficit fund balance of 2.5 million at the end of 2012 and again at the end of 2013.
Township trustees say belt tightening is on the way. The first to go, the parks. Public services however, the trustees say, will not be affected.
Fiscal officer, Ray Warrick, said, "The management team and the department heads are already working on the five year plan. They are in a better position today than they have ever been. They are seeing in real time the numbers that they need to run their departments."
The township is basically under control of the State Auditors Office. The two will work together to create a recovery plan. That must be completed over the next 120 days then we'll go from there.
Township trustees last week unanimously voted to appoint a replacement fiscal officer to fill the remainder of Terwilleger's term through March 31st, 2016.
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