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Springfield Local School District Declared in Fiscal Watch

 

For Immediate Release:                                                          

September 14, 2021

                                                                                               

Springfield Local School District Declared in Fiscal Watch

 

Columbus – A substantial deficit in District funds prompted Auditor of State Keith Faber to place Springfield Local School District (Summit County) into a state of fiscal watch today.

 

“Officials must act quickly to prevent the District deficit from continuing to increase,” Auditor Faber said. “Declaring them in fiscal watch allows my office assist them in improving their financial outlook.”

 

In October 2020, The Ohio Department of Education declared the District to be in a state of fiscal caution as a result of significant deficits including an anticipated deficit of over $1.8 million for fiscal year ending June 30, 2021.

 

Upon a determination by the Department of Education that the district has not taken corrective action to eliminate the deficit and with the concurrence of the Auditor of State that this determination is reasonable, the district is to be declared in fiscal watch.

 

The Department of Education notified the Auditor of State’s office that the Springfield Local School District ended fiscal year 2021 with a general fund deficit of $2,812,538 thereby demonstrating the district did not take action to discontinue or correct the fiscal practices and budgetary conditions that prompted the declaration of caution as required under the Ohio Revised Code and has requested that the School District be placed in fiscal watch in order to prevent further decline. A review by the Auditor’s office confirmed the $2.8 million deficit and found that the District’s May 2021 forecast indicated general fund deficits in future years.

 

Consequently, the Auditor of State finds the Department of Education’s determination that the Springfield Local School District be placed in fiscal watch to be reasonable. 

 

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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 6,000 state and local government agencies. Under the direction of Auditor Keith Faber, the office also provides financial services to local governments, investigates and prevents fraud in public agencies, and promotes transparency in government.

 

Contact:

Allie Dumski

Press Secretary

press@ohioauditor.gov