BRISTOL, Va. — The Virginia Auditor of Public Accounts has cited Bristol as a financially distressed locality.
Bristol Herald Courier reports the city confirmed Monday that Bristol is “City A” mentioned last week when the APA spoke during a meeting with the state’s new Joint Subcommittee on Local Government Fiscal Stress.
City A scored less than 5 on an assessment model in which 16 is the minimum threshold for indicating financial stress. Bristol scored less than 16 the past three years, dropping to 4.25 in 2016.
Bristol manager Randy Eads says the APA told the city more information will come in early September.
APA Martha S. Mavredes says the state was warned about financially distressed localities through a new system devised after Petersburg scored less than 4.5 during its financial crisis in 2016.
Information from: Bristol Herald Courier, http://www.bristolnews.com