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Neosho Receives Lowest Financial Rating

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Economy

NEOSHO, Mo. (AP) — After receiving a scathing audit of the city’s financial performance, Neosho leaders are trying to find ways for the southwest Missouri city to recover.

State Auditor Tom Schweich on Monday gave the city the lowest possible rating for financial performance, saying it was among the worst he had seen in his six months as auditor.

The city’s problems include declining sales tax revenue, low cash reserves, cost overruns and failure to follow city policy and state law. Current leaders blame former city manager Jan Blasé and former finance director Bob Blackwood, who were fired in early 2010.

The Joplin Globe reports that the council had been briefed on the audit’s findings months ago and has already implemented several of the auditor’s recommendation.

Copyright 2011 The Associated Press.

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