Displaying items by tag: Lakemore

The Office of Ohio State Auditor Dave Yost has released the Village of Lakemore in Summit County from fiscal emergency status that they've been under for over six years. 

Back on August 31, 2010, the village was placed under fiscal emergency due to five aggregate deficit fund balances totaling $830,450, and a treasury fund deficit of $584,532, as of May 31 of the same year. 

The status was lifted because of the efforts of the village to erase more than $1,000,000 in combined debt between the general fund and the treasury fund. In the press release, Auditor Dave Yost said, "After a six-year battle, I'm pleased to see the village has finally defeated its deficits. This is a significant moment because it represents a fresh start for the community." 

Read the full release from the State Auditor's office below: 

Village of Lakemore Released from Fiscal Emergency

Columbus – Auditor of State Dave Yost today released the Village of Lakemore (Summit County) from fiscal emergency, a status it held for more than six years.

The village was placed in fiscal emergency on Aug. 31, 2010 due to five aggregate deficit fund balances totaling $839,450, in addition to a treasury fund deficit of $584,532, as of May 31, 2010.

“After a six-year battle, I’m pleased to see the village has finally defeated its deficits,” Auditor Yost said. “This is a significant moment because it represents a fresh start for the community.”

Among the steps taken to restore fiscal stability, the village erased an $800,000 general fund deficit, as well as a $584,532 treasury fund deficit, through a 50 percent income tax credit reduction. According to the village, the tax credit will be reinstated following its release from fiscal emergency.

Transfers from the general fund eliminated another $197,000 in deficit balances in the police disability and pension, police facility, capital improvement, and emergency medical services (EMS) funds. Voters also approved a 4.25 mill five-year fire and EMS levy on Nov. 3, 2015, enabling the village to move fire and EMS expenditures from the general fund to the levy fund.

Additional actions taken by the village included curtailing expenditures across the board and removing the village administrator position to generate an extra $60,000 in savings. 

The village also had to satisfy the following requirements to be terminated from fiscal emergency:

1. Effectively implement a financial accounting and reporting system in accordance with Section 118.10(A) of the Ohio Revised Code; 
2. Correct or eliminate all fiscal emergency conditions and prevent new ones from occurring;
3. Meet the objectives of the financial plan; and
4. Prepare a five-year forecast in accordance with standards issued by the Auditor of State; the opinion expressed by the Auditor’s office is “nonadverse.”

A full copy of this fiscal emergency termination is available online.

Disaster relief efforts are still underway for those affected by West Virginia's flooding that left 23 people dead and damaged more than a thousand homes.

Here in Summit County, Heather Anderson is spending her Fourth of July weekend collecting donations in Lakemore. Anderson, who was born in West Virginia, says her grandparents had lost everything in floods in the 1950s.

"It just touched my heart, knowing that they were grateful for the help they had received when they lost everything," said Anderson. "I thought, if I could in some small way just give back to the state that had helped by grandparents when they had lost everything as well."

Anderson said many local residents share a connection with those in West Virginia. She said many came to the Rubber City when shops were rising several decades ago.

"We have a community here that is hurting because they see their family members hurting as well."

Donations will be accepted through Monday at the Lakemore United Methodist Church from 9 a.m. to 9 p.m. Items requested for donations include water, clothing and even pet care supplies.

"It's been very touching to see how many people truly want to help," said Anderson.

Click here for more information.

A Lakemore woman has pleaded guilty to sending sexually explicit photos and videos to her daughter's 14-year-old ex-boyfriend.

Dodi Wade, 47, of Lakeside Drive, admitted to sending the graphic content. Summit County prosecutors say in one of the videos, Wade propositioned the teen for sex. She also asked for pictures of the teen in return.

Wade pleaded guilty to four counts of disseminating matter harmful to juveniles and importuning.

As part of a plea agreement, Wade will have to register as a Tier I sex offender. Her sentencing is scheduled for late May.