For The Intelligencer
With a financial recovery plan in place, the village of Bridgeport aims to resolve its deficit of more than $500,000 by 2025.
The village was declared in a state of fiscal emergency in 2018 by the Ohio Auditor of State’s Office. In 2019, the village approved a recovery plan to help eliminate more than $760,000 in debt between the general fund and street fund. When the plan was first approved, officials had hoped to resolve the debt by 2023; however, that time has now been extended.
The Bridgeport Financial Planning and Supervision Commission met via teleconference Friday morning to vote on the recovery plan for this year. Council approved the plan earlier this month during a special meeting.