Clark County -
Auditor of State Mary Taylor today released the Springfield City School District from fiscal emergency. The district was placed in fiscal emergency more than four years ago based on a forecasted deficit. Members of the Auditor of State’s Local Government Services section served as financial advisors to assist the district with its economic recovery.
“This announcement is welcome news for the entire Springfield community and I commend school officials for a job well done,” Taylor said. “I am pleased that my office was able to assist the district and help resolve their financial situation.”
The district was placed in fiscal emergency on February 28, 2005. As a result, a state Financial Planning and Supervision Commission was established to develop, adopt and implement the district’s financial recovery plan. The announcement releasing Springfield Schools from fiscal emergency effectively dissolves the commission.
The Auditor of State’s Local Government Services section serves as a consulting and fiscal advisory group to all governmental agencies and subdivisions. The section issues publications, accounting manuals and advisory bulletins to assist local governments with their duties.
A copy of the complete fiscal analysis is available online at www.auditor.state.oh.us.