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Wellsville’s accounts now in the black

WELLSVILLE — Although the village remains in fiscal emergency all of its financial accounts are now out of the red and into the black.

Mayor Nancy Murray announced during Tuesday night’s council meeting that the village is now has positive balances in each of its accounts and all are in good standing — this marks the first time the village is operating without a deficit balance since Murray took office January 2016.

Since May, when the village’s Financial Planning and Supervision Commission was formed, the village has made numerous changes, including reducing overspending, personnel and cutting overtime spending in the police department; forging an agreement with the Wellsville Business Coalition to help with paving of roads; and one-time sales of several properties previously owned by the village. This led to a transfer of funds from its Capital Improvement Fund to the General Fund.

The general fund is expected to receive another boost as council agreed to petition the Columbiana County Court of Common Pleas for permission to transfer an additional $140,000 from capital improvement to general, following the sales of other properties.

“We started out $300,000 in the hole when I took this job,” Murray said. “We have now fixed that situation, and I’d like to thank Hoi Wah (Black, fiscal officer) and the council and the employees for all their help and efforts, and I would like to thank the community for being patient while we work through this fiscal emergency.”

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