Updated Thu, May 15, 2014 10:53 am
The village of Trimble has been declared to be in a state of fiscal emergency. The announcement came Tuesday from Auditor of State Dave Yost.
The Auditor's office found that the village had hundreds of thousands of dollars in deficit fund balances after Trimble Mayor Douglas Davis requested a fiscal analysis.
The auditor said those deficit fund balances, treasury deficits and significant past due accounts are what prompted the office to declare the emergency.
"When the former fiscal officer stole $61,000 three years ago, she paralyzed Trimble," Auditor Yost said. "This office will continue to aggressively work to help the local officials get the village back on its feet."
The office determined there are deficit fund balances of $157,513 and $164,146 from the past two years.
The analysis also showed that treasury deficits surpassed one-sixth of treasury receipts by $82,933 and $88,382 for that period.
About 400 people live in Trimble. In a fiscal emergency the Auditor of State is empowered to take control of a village’s finances when the population is less than 1,000 people.