Officials in Greenville will be on hand Thursday as the borough crosses the finish line in its 21-year journey to tear off its label as a financially distressed municipality.

Pennsylvania Department of Community and Economic Development Deputy Secretary Rick Vilello is scheduled to appear in Greenville where he will announce the approval of Greenville Borough’s exit from Act 47.

Also known as the "Revitalization and Recovery Act," Act 47 is a Pennsylvania State law established in 1987 to aid financially distressed municipalities and school districts by providing a framework for local governments and the state to collaborate and develop procedures to help the municipality regain financial stability and solve problems.

 The Act provides resources to create a recovery plan, hire consultants, and work with state officials to address budget shortfalls and implement necessary changes.

Greenville’s plan, adopted in early 2003 and adjusted over the years, has involved efforts to reduce the borough’s reliance on an earned income tax, negotiations with labor unions, coupled with revenue adjustments and spending reductions.

Along the way there has been the addition of a fire service real estate tax, an increase in real estate taxes, and a storm water utility fee.

After first tackling its debt and reducing jeopardy for financial default, Greenville took several more years to eliminate operational deficits and demonstrate that it has a viable financial plan for future years.

Greenville, designated as distressed on May 8, 2002, will be the 26th Pennsylvania municipality to recover from distressed status.

Thursday morning’s exit ceremony will be held at the Howard Miller Student Center on the Thiel College Campus.