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Report: Chester’s finances spiraling out of control

An independent analysis of the city’s financial woes recommends “extreme measures” including reducing emergency services, implementing new taxes and bringing in professional accountants to fix a growing budget deficit by 2018.

Econsult Solutions Inc. has proposed an amended recovery plan to help the struggling city recover from a projected $16.2 million cumulative deficit for 2016, which could grow to $37.3 million by 2020.

The report notes that Chester remains one of the state’s poorest cities despite making some economic gains made over the past eight years. The city’s financial issues came to a head in 2006 when Chester was forced to take a deficit-funded loan just to meet payroll and deliver basic services. Read more here.