Brookfield Schools plans to operate ‘in the black’ next school year

Staff report

BROOKFIELD

The treasurer of the Brookfield Local Schools says state auditors concluded that the school district needed an additional $514,000 to remain solvent this school year, but the district’s finances look much better for next year.

The State Controlling Board approved the $514,000 advance Monday. The district also received one of $1,018,000 one year ago and will have repaid half of that at the end of this school year, said David Drawl, Brookfield treasurer.

It will finish repaying the $1,018,000 by the end of next school year, and the $514,000 will be repaid by the end of the school year after that — the 2015-16 school year.

“We’re looking to operate in the black starting with next school year,” Drawl said, explaining that the district has cut about $500,000 from its budget will receive an additional $606,002 annually as a result of the new 4.85-mill permanent levy voters approved a year ago.

The Ohio Auditor’s Office placed the district in fiscal emergency May 14, 2013. The result was that a financial planning and supervision committee was created to assume some of the powers of the board of education.

Drawl believes the district can be removed from fiscal emergency next school year after the Ohio Auditor’s Office verifies the school district’s next five-year forecast.