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GGD-96-164R 1 (1996-08-21)

handle is hein.gao/gaobaclgm0001 and id is 1 raw text is: (3 -United States GA Q General Accounting Office Washington, D.C. 20548 General Government Division B-272433 August 21, 1996 The Honorable Peter J. Visclosky House of Representatives Dear Mr. Visclosky: This letter responds to your request for information on the fiscal crisis and subsequent financial recovery of the city of Cleveland in the 1970s. As you know, we collected information on Cleveland's response to its economic crisis as part of a broader review, covering five cities that had experienced financial difficulties, at the request of the Subcommittee on the District of Columbia, House Committee on Government Reform and Oversight. We presented this information in summary form at a March 2, 1995, hearing of the Subcommittee.1 On May 22, 1996, you asked that we reopen our work papers with the objective of presenting more fully the information they contained on Cleveland's situation, with particular emphasis on the actions that the city took to improve its financial standing, management practices, and relationships with the private sector. You also asked that we summarize what Cleveland officials had told us were lessons they learned from the recovery experience. This letter contains a brief summary of the information you requested and a description of the issues that led to the city's crisis. The enclosure provides details on Cleveland's financial recovery, improvements to its financial and general management systems, actions to revitalize its community, and lessons learned during the recovery. In doing our original work on Cleveland, from December 1994 to June 1995, we conducted structured interviews with Cleveland city officials. We also obtained and analyzed relevant documents to define the nature, processes, and results of changes made by the city to recover from the fiscal crisis. We did not independently evaluate the information provided. However, a draft copy of our previous work was sent to Cleveland's Assistant Finance Director for review and verification by the 1District of Columbia: Actions Taken in Five Cities to Improve Their Financial Health (GAO/T-GGD-95-110, Mar. 2, 1995). GAO/GGD-96-164R Cleveland's Financial Crisis

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