After filing for Chapter 9 municipal bankruptcy in October of last year, Harrisburg, PA found itself being denied by the court. Citing the city’s bankruptcy filing was illegal a federal judge dismissed the case, leaving city officials back in the financial hot seat. Now just a few short weeks later, the city has a new treasurer whose mission is to get the city back on track without the help of bankruptcy court.
An Unlikely Face
Appointing a new treasurer is not an uncommon move for an entity in financial distress, but appointing a 23-year-old college student is. John Campbell was appointed as the city’s new treasurer on January 3rd in hopes of bringing new ideas and a fresh perspective on digging the city out of the red. Campbell, who supported the city’s bankruptcy filing, already has his eye on one move that he feels is the center of the problem.
The city owes $317 million on an incinerator, just one of its many debts that have lead to further strain on the city’s wallet. Now that the city’s financial transactions have been taken over by a Governor appointed financial adviser, Campbell has limited room to help. However, he does a have plan to help balance the books over the course of his four year term as treasurer.