Taylor Releases Fairborn City School District from Fiscal Watch

Wednesday, May 28, 2008

Greene County -

Auditor of State Mary Taylor today released the Fairborn City School District from fiscal watch. The district was placed in fiscal watch more than four years ago for failing to submit an acceptable plan to eliminate a forecasted deficit of more than $6.4 million.

Since the fiscal watch declaration, members of the Auditor of State’s Local Government Services (LGS) section have served as financial advisors to assist the district with its economic recovery.

“Our LGS section is a valuable resource for public entities in financial distress,” Taylor said. “I am pleased that my office was able to assist the district in resolving their financial situation and I commend Fairborn City School administrators for taking the steps necessary to get where they are today.”

The school district was placed in fiscal caution on February 23, 2004 due to its deteriorating financial condition and a projected deficit of $6,431,000 for fiscal year 2005. On May 24, 2004, the Auditor of State declared the district in fiscal watch since school officials failed to submit an acceptable written proposal, as required by Ohio law, identifying ways to reduce spending.

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 in performing their duties.

A copy of the complete analysis is available online at www.auditor.state.oh.us.