Mayor’s fiscal recovery plan approved
WELLSVILLE– The Village Council continues working towards release from fiscal emergency. During a special meeting held Monday afternoon, council passed a resolution approving the mayor’s fiscal recovery plan.
The resolution is an emergency measure that sets up a plan for restoring the fiscal integrity of Wellsville. It also serves as a master plan which all future appropriations must comply and directs the correction of issues essential to financial recovery. The plan sets up revenue generating and expenditure reduction actions and provides a five year forecast.
As an emergency measure and a needed resolution for the next meeting with the Financial Planning and Supervision Commission, council suspended rules and moved the resolution to third and final reading.