2025 Annual Monitoring Process – City of Radford Recommendation Letter for State Assistance

Archived Report

 

Applicable Fiscal Year:

2025

Report Category:

Fiscal Distress Monitoring

Locality:

City of Radford

Summary

This correspondence includes information regarding our Office's identification and review of the City of Radford (Radford) under the local fiscal distress monitoring process pursuant to § 15.2-2512.1 of the Code of Virginia. 

As part of the Office’s 2025 monitoring process, we identified Radford for additional follow-up review.  Based on our follow-up review conducted with the city, the Office concluded that Radford meets the criteria for fiscal distress within the framework of the Commonwealth’s early warning system.  Accordingly, the Office provided this notification as our formal recommendation that the Commonwealth consider providing state assistance to further assess the city’s situation and to support Radford’s efforts to remediate the underlying factors contributing to fiscal distress, as further described in the letter.