Leipsic No Longer In Fiscal Emergency
11/16/17 – 3:26 P.M.
The Village of Leipsic is no longer in a fiscal emergency. Auditor of State David Yost announced that he released the village from the designation today. Leipsic was in a fiscal emergency for over 7 years.
Since the village was put in the emergency, it has lowered expenses over $130,000 annually. It did this by renegotiating loan terms with the Ohio Water Development Authority. The village also regulated pay increases by freezing salaries and limiting pay raises. It also saw increased revenues through rate hikes for water and sewer services.