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A fiscal analysis of the township determined that as of Dec. 31, Concord Twp. qualified for two of the six conditions needed to be in fiscal emergency, according to the auditor’s office.
The auditor’s office can declare a fiscal emergency is any of the following conditions exist:
- Default on debt obligation
- Failure to make a payment of all of payroll
- Increase in minimum levy of the village which results in the reduction in the minimum levy of another subdivision
- Significant past due accounts payable
- Substantial deficit balance in funds
- Deficiency when the village's treasury balance is compared to the positive cash balance of the village's funds