NOTICE OF FILING – 3-YEAR EXIT PLAN
BOROUGH OF GREENVILLE MERCER COUNTY PA
A Recovery Plan Amendment/Exit Plan has been filed with the municipal secretary of the Borough of Greenville, Mercer County, PA in accordance with Act 199 of 2014, the Municipalities Financial Recovery Act – Omnibus Amendments. The borough after making significant and sufficient progress to date should exit financial distress within the 3-year period covered by the exit plan. The Recovery Plan Amendment/Exit Plan is on file at the Borough of Greenville municipal office, 125 Main Street, Greenville, PA 16125.
Written public comments should be submitted by 4:30 pm, Thursday, January 31, 2019 and directed to:
Act 47 Coordinator
c/o Borough Manager
Borough of Greenville
125 Main Street
Greenville PA 16125
Currently, two provisions, Section 255.1(1) and Section 255.1(4) under Section 255.1 Termination of Status have not been met:
(1) Operational deficits of the municipality have been eliminated and the financial condition of the municipality, as evidenced by audited financial statements prepared in accordance with generally accepted accounting principles and projections of future revenues and expenditures, demonstrates a reasonable probability of future balanced budgets absent participation in this act; and
(4) The reasonably projected revenues of the municipality are sufficient to fund ongoing necessary expenditures, including pension and debt obligations and the continuation or negotiation of collective bargaining agreements and the provision of municipal services. Projections of revenues shall include any anticipated tax or fee increases to fund ongoing expenditures for the first five years after termination of distressed status.
Subsections 255.1(1) and Subsection 255.1(4) are addressed in the exit plan and include, but are not limited to actions related to home rule, the West Salem Township police service contract, a fire service charge, workforce limitations, capital improvements funding and an economic development assessment. The remaining subsections of Section 255.1, Subsection 255.1(2) regarding municipal debt has been satisfied and Subsection 255.1(3) regarding claims and judgments was not relevant to the Borough of Greenville’s original designation of distress.
Public comments regarding the Recovery Plan Amendment/Exit Plan will be received on Wednesday, February 6, 2019 at 6:30 pm in Council Chambers, 125 Main Street, Greenville PA 15125.
Mary Jane Kuffner Hirt
Act 47 Coordinator