COLUMBUS, Ohio - The State Auditor has released a tool to help Ohio's cities and counties assess their financial health and make informed budgetary decisions.
The tool generates what Auditor Dave Yost's office calls "financial health indicators", using four years of financial data to generate financial indicators for all 247 cities and 88 counties in the state.
“This effort has one goal: Help improve the financial health of our communities by providing a ‘fiscal physical’ to pinpoint potential problem areas,” Auditor Yost said. “Not every financial problem can be avoided, but this tool provides an early warning system to help identify those that can.”
Yost says that Ohio's communities aren't is as bad a shape as many feared.
“Our local leaders have performed well in navigating the financial storms they’ve faced, as only 16 cities and one county currently meet the historical thresholds for having high fiscal stress,” Yost said. “This report suggests to me that the financial condition of our cities and counties isn’t as great as some believe, nor is it as bad as some others believe.”
The FHI reports will be generated twice a year for each entity: Once when the city or county submits its financial statements for a preliminary report, and a final time after any adjustments are made following the Auditor’s review. You can see reports for both cities and counties at www.ohioauditor.gov/FHI