As Dunmore county begins puting its financial recovery guidance to use, other Northeast PA counties are considering financial recovery programs with the state Department of Community and Economic Development, the Scranton Times-Tribune is reporting.
Fred Reddig, executive director of the Governor's Center for Local
Government Services at the state DCED, has described the program as a
way for a community to avoid distressed status, known as Municipalities
Financial Recovery Act 47 of 1987. When a municipality files for Act 47,
the state, through the DCED, steps in and appoints a coordinator who
examines revenues and expenditures and devises a recovery plan.
"We didn't really have a choice, essentially, getting into (the Early
Intervention Program), but it was $15,000 well spent (toward)
straightening out our financial situation," said Eileen Cipriani, West
Wyoming Borough Council president. "It's put us on the right track and
the road to recovery."
Original Source: Scranton Times-TribuneRead the full story here.