5/26/16 – 6:38 A.M.
Fostoria has been placed under a fiscal emergency by the state. The Review-Times reports Mayor Eric Keckler made the announcement Wednesday. The move comes as the city tries to deal with a projected $800,000 deficit.
Fostoria officials will now have 120 days to put together a plan to reduce the city’s deficit. An oversight committee will be put together to help get through the process. Fostoria Auditor Steve Garner will be required to send the state a budget report each month.
A special meeting of city council is tentatively set for June 1 at 6 p.m. to talk more about the issue.
The State Auditor’s Office was called in to examine the situation in March when a budget shortfall began to grow.
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