SWANTON - With Swanton Local School District's financial future looking brighter, the Ohio Department of Education has released the district from fiscal caution, Swanton Treasurer Cheryl Swisher said yesterday.
The education department placed Swanton in fiscal caution in the fall of 2003 and began monthly monitoring of the district's finances. The district, which is in portions of Fulton and Lucas counties, faced a significant deficit before voters approved a 1.25 percent income tax and a 4.34-mill, three-year emergency operating levy in 2004. To trim expenses and help balance the budget, the Swanton school board cut staff and programs.
Because the board has restored financial solvency, the state no longer will monitor the district's finances on a monthly basis, officials said.