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Commission on Local Government readies presentation on early warning fiscal‑stress system after GA appropriation
Summary
Commission staff reported work on an early warning detection system for fiscally distressed localities and confirmed a $500,000 annual appropriation to assist technical review; staff will present to the Joint Subcommittee on Local Government Fiscal Stress on June 15. The Commission also discussed the City of Hopewell’s delinquent financial report and agreed to a follow‑up conference call.
Commission staff told the Commission on Local Government on May 9 that they are participating in a multi‑agency workgroup to develop an early warning detection system for local fiscal distress and will present to the Joint Subcommittee on Local Government Fiscal Stress on June 15.
J. David Conmy, the Commission’s Local Government Policy Administrator, said the proposed system would have the Auditor of Public Accounts notify the Governor, House Appropriations, Senate Finance and a locality’s governing body if fiscal stress is detected. Conmy said the General Assembly made an appropriation of $500,000 in each fiscal year to assist with technical review of a locality’s finances when requested.
Separately, Ali Akbor, the Commission’s Senior Public Finance Analyst, reported that the City of Hopewell remained delinquent in submitting its financial report to the Auditor of Public Accounts. Staff previously sent a March 24 letter to Hopewell outlining the negative effects of the delay. Chair Diane M. Linderman proposed and the Commission agreed to schedule a conference call with city officials to determine when the city would submit the report to the Auditor.
The Commission’s engagement in the early warning effort also reflects staff outreach and stakeholder meetings, including participation in a GO Virginia orientation that drew about 300 attendees. The June 15 Joint Subcommittee meeting is the next scheduled venue where Commission staff will describe the workgroup’s goals, which include examining regional cooperation and causes of fiscal stress among local governments.
