The Office of the Auditor of State of Ohio has completed the Financial Indicators Report for the City for 2017. The Auditor’s Office began issuing Financial Indicators Reports for counties and cities based on FY 2015 data to help them determine if they are experiencing fiscal stress.
The report consists of 17 financial health indicators which are a series of financial information, percentages, and ratios gathered from annual financial statements, filed by local governments, which are useful in predicting financial stability. The report instructs the reader to consider all of the indicators and analyze those that might present an issue. The report should be read in conjunction with the FAQ document written by the Auditor’s staff and available to the public on the Auditor’s website. The answers to these questions are helpful in understanding various aspects of the report and what they mean.
For each of the indicators, the report uses three categories to characterize whether the trend in the data represents a positive outlook, cautionary outlook, or critical outlook. In the report, these three categories are identified by the colors green, yellow or red, respectively. The report states, “FHI will be used to recognize early signs of fiscal stress at specific local governments and take a proactive approach to monitoring or assisting these local governments” to identify and correct negative financial trends before the negative trends lead to more serious fiscal distress.
- 2018 Auditor of State Financial Health Indicator Report
- 2017 Auditor of State Financial Health Indicator Report
- 2016 Auditor of State Financial Health Indicator Memo | AOS Financial Health Indicator
What are Financial Health Indicators? Find out more.