BRIDGEPORT — Due to the village of Bridgeport being in a state of fiscal emergency, it may have to wait until early next year before it can spend any of the $216,000 it received in Coronavirus Aid, Relief and Economic Security Act funding.

Bridgeport Village Council discussed the CARES Act funding during Tuesday’s meeting, which was held via teleconference.

Chris Kirby, fiscal officer for the community, said the village is unable to spend the funding until a recovery plan and a budget are finalized for the upcoming year, according to the funding’s stipulations.

“There’s a lot of leg work that needs to be done. We can use the money after we pass a resolution tonight. I will have to put it into the EMS fund so that it can be used, however, we don’t know when we’ll be able to use it right away, hopefully by the end of January,” he said.

Kirby said if the village was not in a state of fiscal emergency it would be free to spend the money now, but due to its current status certain plans must be in place prior to the funds being disbursed.

Village Solicitor Michael Shaheen said the state must also approve the fund allocations prior to the village being able to spend the money.

The Ohio Auditor of State’s Office declared the village in a state of fiscal emergency in 2018 due to it being more than $760,000 in debt between the general fund and street fund.

Last year council approved a village recovery plan in order to help eliminate the debt.

With the plan in place, the village is hoping to resolve its fund deficit by 2023.

Kirby said the goal is to have the 2020 financial recovery plan completed and for the village to be able to spend the money by the end of January.

“The funds will be available as soon as the recovery plan and the permanent budget is done,” he said.

In order to complete the recovery plan for 2020, Mayor Norma Teasdale must meet with Financial Supervisor Justin Sloan to formulate a plan for the upcoming year.

A meeting has not yet been set between the two parties, but Shaheen said the meeting should take place in early January once the budget is completed.

The spending plan must then be approved by the entire Financial Planning and Supervision Commission.

Once the village is able to allocate the funding, a majority of the money will go toward the police department, fire department and EMS fund and the village’s general fund.

Officials said some of the funds may also be used topay down the village’s debt, which remains over $500,000.

Council unanimously passed a resolution during the meeting to accept the CARES funds, moving the village one step closer to being able to spend the money.