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Commission hears interim fiscal stress findings as Hopewell remains delinquent on financial filings
Summary
Staff presented an interim fiscal stress report for 2014/2015 after the City of Hopewell failed to submit required financial data; the Commission accepted the interim approach and will update the report when missing data is received.
Senior Public Finance Analyst Ali Akbor told the Commission that the City of Hopewell remained delinquent in submitting its financial report to the Auditor of Public Accounts. Because Hopewell’s historical rankings and classifications are generally consistent from year to year, staff proposed producing an interim fiscal stress report using the city's prior-year data.
Akbor outlined how the Commission assigns fiscal stress scores and presented the interim findings based on available data. Commissioners agreed that staff should release an updated report once the remaining missing data from Hopewell is received.
No vote was recorded on adopting a final report; staff will issue an update when the city provides the outstanding financial information.
