Beaver district out of emergency

Staff report

Lisbon

After just more than two years in fiscal emergency, the state auditor’s office has lifted that designation from the Beaver Local School District.

The state auditor’s office declared the district in fiscal emergency Feb. 11, 2010, after the school board passed a resolution in September 2009 stating its inability to develop a fiscal-watch recovery plan that’s acceptable to the state superintendent of public instruction.

A Financial Planning and Supervision Commission was appointed to direct the district’s return to financial stability.

For the fiscal-emergency status to be terminated, the commission or auditor’s office determines that an effective financial accounting and reporting system is in the process of being implemented and is expected to be completed within two years; all of the fiscal-emergency conditions have been corrected or eliminated, and no new emergency conditions have occurred; the objectives of the financial-recovery plan are being met; and the school district has prepared a nonadverse five-year financial forecast.

“Therefore, the existence of the Beaver Local School District Financial Planning and Supervision Commission and its role in the operation of the Beaver Local School District is terminated” Tuesday, the report from Dave Yost, state auditor, said.