Ohio is celebrating its 212th birthday with special events at the Ohio Statehouse in Columbus.
City Auditor Warns of Possible Financial Trouble
Columbus City Auditor Hugh Dorrian says a letter he sent to Mayor Coleman and City Council two weeks ago about city finances was a warning not a condemnation.
Dorrian says the city is in danger of ending the year with a deficit or might have to dip into its rainy day fund.
He says city revenues are on track and spending is at budgeted levels. But Dorrian says this is the first full year of state cuts and that’s taken a toll on city finances.
“These state cuts now add up to better than $35 million a year, every year. And, of course, the most difficult to cope with was the loss of the estate taxes,” Dorrian said.
Dorrian says two years ago the city took in $15 million dollars in estate taxes. Next year, he says, that amount will be zero.