Taylor Releases Jefferson Township Local School District Audit

Tuesday, July 29, 2008

Montgomery County -

Auditor of State Mary Taylor today released the audit of the Jefferson Township Local School District for fiscal year 2007. The audit reveals that the school district is in fiscal watch due to its deteriorating financial condition.

“When a local government is experiencing financial difficulty, we want to provide assistance where we can to help them improve their situation and restore financial stability as soon as possible,” Taylor said.

The audit indicates that district officials received a $500,000 tax anticipation note on January 24, 2008 to cover operating expenses through the end of the school year. District officials did not repay the loan when it came due on June 26, 2008. The loan is currently in default.

The Ohio Department of Education (ODE) placed the district in fiscal caution on May 9, 2003 due to an anticipated general fund deficit. On February 9, 2003, the Auditor of State elevated the district’s financial status to fiscal watch.

On June 10, 2008, Taylor released a performance audit of the Jefferson Township Local School District. The audit outlined several recommendations district officials should consider to reduce spending and improve efficiency. The recommendations, if fully implemented, could save the district more than $2.4 million annually.

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