At the time, the Monroe school district was among less than a dozen in Ohio to have fallen into “fiscal emergency.”
“We received a clean audit report, which means it contained no findings for recovery, material citations, material weaknesses, or significant deficiencies,” said Monroe Treasurer Holly Cahall. “I can honestly say that it is the best audit that we have ever had.”
The district was placed in fiscal emergency in May 2012 by Yost after experiencing more than a $5 million budget deficit due to non-criminal, mismanagement of funds.
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The district’s annual operating budget is $24 million.
In 2012 the state ordered the district to develop a financial recovery program that included borrowing funds from the state, passing a 7.5-mill tax levy in November 2012, and completing a number of items in its policies and procedures.
“Our financial recovery succeeded as the result of the passage of the 5-year emergency levy in November of 2012, and subsequent passage of a continuing substitute levy this past November,” Cahall said.
“Our students are fortunate to have a dedicated and generous community who cares about Monroe Schools, and wants to see it succeed in every way. We have continued to work hard to maintain the public trust, and the audit for 2016 is evidence,” she said.
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