GETTING OUT Fiscal emergency
In releasing Youngstown City Schools from fiscal emergency today, the state auditor's office noted that the district:
Is implementing a sound accounting and reporting system, but the auditor's office will monitor the system to ensure full implementation within two years.
No longer has an operating deficit in the general fund.
Has demonstrated its ability to repay past state loans without additional borrowing.
Reduced staff by more than 200 positions, saving $7.4 million, and closed six school buildings, saving more than $977,000.
Saved $645,000 by renegotiating health care benefits for teachers, and saved $300,000 by revamping its data processing functions.