Brookfield Local School District is going to be released from fiscal emergency with a ceremonial ending of state oversight on April 13, district Treasurer Craig Yaniglos told the school board Wednesday.
“It’s been a long time,” he said.
State Auditor Dave Yost declared the district to be in fiscal emergency in May 2013 because of a looming deficit for that school year.
A board was created – the Financial Planning and Supervision Commission of the Brookfield Local School District – and assumed final authority on district spending.
School officials’ expense cuts – which included certain program cuts – coupled with unexpected revenue increases in property tax proceeds and state funding have reversed the district’s financial course. Representatives of the state auditor’s office told the board in February that the district is expected to end each of the next five years with a surplus, based on current known expenses and contracts.
Yost will attend the release ceremony, which will include a meeting of the commission at 3:30 p.m., Yaniglos said.
“There is a ceremony,” he said. “There is a meeting with the fiscal commission, because they officially disband the group.”
School board members have talked about looking forward to the end of the fiscal emergency designation, which will give them more freedom in making financial decisions and deciding what kind of school system they want to have.