The Village of Newcomerstown's fiscal emergency status may be coming to an end soon.
"We're closing in on it (ending fiscal emergency)," said Sharon Hanrahan, chairman of the Newcomerstown Financial Planning and Supervision Commission. "You won't be out this year."
But she implied that the status may be lifted next February when the commission meets again.
Until then, the village needs to work on a few things that were outlined in the report on accounting methods for the village issued by the Auditor of State's Office recently. It highlighted areas of concern that are common mistakes in village government, as well as few things that need to be corrected in order for the fiscal emergency status to be lifted.
Hanrahan said at the commission's meeting last Monday that if those concerns raised in the report are addressed and the end of year numbers for 2015 look good, the village's fiscal emergency status may be lifted once the commission meets again Monday, Feb. 8 at 10 a.m. at the Newcomerstown Churches of Christ in Christian Union.
"Overall, everybody has been doing a great job in keeping expenses down," Hanrahan said.
Laura Brown, project manager from the Auditor of State's Office, agreed.
"Financially, the general fund is very healthy," Brown said.
She also made comments about the park fund where she believes the park could have sustained itself without the $15,000 bed tax added to the fund but she said it's good to have a cushion in the fund in case something would break down or needs repaired at the park.
"It's always good to have that savings in your back pocket," Brown said. "Overall, it's very good news on the financials for the village."
It was in October of 2012 that the village was placed under fiscal emergency status because one fund -- the cemetery fund -- was in the negative balance. This year, transfers from the general fund and a cut down on expenses have helped to reduce that deficit. Those measures, along with many others, are what is needed to make the village financially stable again.