East Knox Local School District Placed in Fiscal Watch

COLUMBUS, Ohio, Sept. 30 -- The Ohio State Auditor issued the following news release:

Failure to provide an acceptable financial recovery plan prompted Auditor of State Dave Yost today to place East Knox Local School District (Knox County) in a state of fiscal watch.

"Improvements cannot be made without a well-laid plan," Auditor Yost said. "My office is ready to work with the district to help guide it toward fiscal health."

The school district was first placed in fiscal caution on September 4, 2012 by the Ohio Department of Education. The declaration was based on an anticipated deficit for the fiscal year ending June 30, 2012, as well as the potential for deficits in future years. The district was required to submit a recovery plan to address its financial issues. No such plan has been submitted.

East Knox Local School district must now submit a financial recovery plan within 60 days of today's declaration. If the school district is unable to submit an acceptable recovery plan, fiscal emergency will be declared and a financial planning and supervision commission appointed.

Technical assistance is available from the Auditor of State's office to aid in addressing the district's financial concerns.

A full copy of this fiscal caution declaration may be accessed online[https://ohioauditor.gov/auditsearch/detail.aspx?ReportID=110832].

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