Auditor Yost speaks during a Niles City School District special board meeting on June 29, 2016.
 

Columbus – Auditor of State Dave Yost today released the Niles City School District (Trumbull County) from fiscal watch, a status it held for more than 13 years.

The Auditor of State’s office placed the district in fiscal watch on March 10, 2003 after it reported an operating deficit of more than $2.9 million for fiscal year 2003. The deficit exceeded eight percent of the district’s general fund revenue. Additionally, the district had not passed a levy as of March 10, 2003 that would eliminate the deficit in fiscal year 2004. 

“The district has spent more than a decade trying to find the right balance between expenditures and revenues,” Auditor Yost said. “After years of tough decisions, the district’s administration and board of education have finally brought stability to their finances, and I applaud them for their success.”

To remove itself from fiscal watch, the district reduced the number of certified and classified employees on staff. Additionally, the district trimmed fringe benefit costs through retirements, staffing cuts and by negotiating with employees to pay 10 percent of their healthcare. 

Voters also helped the district maintain its operating revenues by renewing $1.3 million emergency operating levies in fiscal years 2009 and 2012. 

The Auditor of State’s office examined the district’s financial forecast for fiscal years 2016 through 2020 and determined that the forecast reflects a positive, unencumbered fund balance through the end of the forecast period. 

A full copy of this fiscal watch termination is available online. 

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The Auditor of State’s office, one of five independently elected statewide offices in Ohio, is responsible for auditing more than 5,800 state and local government agencies.  Under the direction of Auditor Dave Yost, the office also provides financial services to local governments, investigates and prevents fraud in public agencies and promotes transparency in government.

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Ben Marrison
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614-644-1111