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Commission approves Fiscal Stress Report for 2014–2015, asks staff to pursue delinquent localities
Summary
The Commission unanimously approved the Fiscal Stress Report for 2014–2015 after minor edits; staff noted the report uses FY2015 data for most localities (Hopewell uses FY2014) and that roughly half of localities show above-average or high fiscal stress.
The Commission on Local Government on Jan. 9 approved the final Fiscal Stress Report for 2014–2015 and directed staff to continue outreach to localities that had not submitted timely financial information.
Mr. Ali Akbor, Senior Public Finance Analyst, presented the final report and explained it uses Fiscal Year 2015 data for all localities except Hopewell, which is scored on FY2014 revenue figures because it did not file with the Auditor of Public Accounts. Akbor told commissioners that using prior-year data for an outlier locality does not materially change locality rankings and noted that city governments tended to show higher fiscal stress than counties. He reported that about half of the Commonwealth’s localities show above-average or high fiscal stress, with ten localities improving their category since FY2014 and four declining.
After limited discussion and suggested minor edits, Diane M. Linderman moved to approve the report with amendments; R. Michael Amyx seconded and the motion carried unanimously. Commissioners expressed concern about delayed responses from some localities and asked staff to continue working with outstanding localities to secure timely filings for future reports. The Commission approved the report for transmittal with the agreed amendments.
Next steps include staff outreach to delinquent localities and preparing the report materials for distribution to state partners who rely on the stress data.
