Brookfield schools released from fiscal emergency
Brookfield schools will be released from fiscal emergency effective Friday, the state auditor’s office reported.
Brookfield schools were officially placed in fiscal emergency in May 2013. Since then, the district has undergone changes in expenditures and staffing.
Within the last year and a half, further reductions in staff and a closer look at district contracts has resulted in additional savings, the auditor’s office said in a news release.
Additional savings, coupled with the re-evaluation of property taxes in Trumbull County, has caused an increase in anticipated tax revenues. The auditor’s office recently concluded the district’s five-year forecast shows positive cash balances for the next five years.
In the 2012-13 school year, the district’s deficit was near $1 million at the end of the fiscal year. Voters approved a 4.85-mill operating levy in 2013.
Auditor of State David Yost will be presiding over the ceremony to release the district from fiscal emergency at 3:30 p.m. School district officials welcome staff, parents and community members to attend the event in the high-school auditorium.