"Teamwork" Highlights Financial Turnaround
State Treasurer Robert J. Kleine, Chair of the Local Emergency Financial
Assistance Loan Board (ELB), has announced that Pamela Amato has successfully
completed her responsibilities as Emergency Financial Manager in the Village of
Three Oaks. The ELB is expected to recommend to the governor that the financial
emergency in Three Oaks be revoked and that authority be returned to
locally-elected officials. A timeframe for making that recommendation has not
yet been set.
"Residents of Three Oaks should be pleased, in fact, very proud that their
elected representatives will soon assume control of the village's finances and
operations," said State Treasurer Kleine. "I would like to thank Pam Amato and
local officials for all of the hard work they have put in to address Three Oaks'
financial situation."
In concluding her tenure as EFM, Amato notes the following accomplishments:
- Preparation and approval of a deficit elimination plan;
- Correction of deficiencies noted in prior year audits;
- Careful drafting of village budgets, including input from department
heads, analysis of the current economic conditions, and the collective
experience of village council and staff; and
- Maintenance of records for revenue and expenses through review and
approval of purchase orders, matching invoices to purchase orders, recording
and timely payment of invoices.
"The Village of Three Oaks should be proud of what we have accomplished in a
short period of time," Amato said. "This has only been possible through the
dedicated efforts of village officials, employees, residents, and businesses as
well as several Berrien County officials and neighboring communities, all of
whom have contributed to our success."
The Department of Treasury conducted a preliminary review of the village's
finances in June 2008. Three Oaks was placed under the authority of Ms. Amato in
December 2008.
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