Johnstown in Cambria County has been in the program under Pa. Act 47 since 1992.
in Cambria County was designated as distressed on Aug. 20, 1992, under the Municipalities Financial Recovery Program, known as Act 47 of 1987 .
acting Secretary Rick Siger. Siger was joined by Lt. Gov. Austin Davis, Johnstown mayor Frank Janakovic and other county officials this morning. “Johnstown has a very bright future ahead, and the Commonwealth is excited to partner with local leaders to realize their vision. This moment has been more than 30 years in the making, and it is truly a day for celebration,” Siger said.According to the new release, Johnson now has a “manageable” debt, improved management and fiscal practices, an excess of revenue over expenditures for six years and a $6.9 million reserve fund.
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