Clean audit issued for Clark County economic development nonprofit

A recent report from the Ohio Auditor of State showed a clean audit after a review of the Community Improvement Corp. of Springfield-Clark County.

Auditor of State Dave Yost’s office is responsible for auditing all public entities in Ohio. The CIC’s finances are audited annually and it’s been several years since any issues have been raised, said Chad Yancey, finance director for the CIC.

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“That’s the case every year,” he said of the clean audit. “We try to run a tight ship around here.”

The CIC is a nonprofit that’s mission is to promote economic development in Springfield and Clark County. Information from the CIC said the organization helped create 1,020 jobs and retain 1,400 jobs in the region in 2016.

The organization’s total net assets were listed at about $8.5 million at the end of last year, up slightly compared to about $8.2 million at the end of 2015. The audit also showed the corporation received some revenue on sales of land in both 2015 and 2016.

It showed slightly more than $1 million for a gain of sale for land sold to Love’s Travel Center in 2015, and a gain of sale of about $68,000 in 2016 related to land sold to Dole Fresh Vegetables.

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The audit showed the CIC largely relies on contributions from Clark County and local business leaders to fund its operations.

It also showed due to cuts from the state of Ohio, the city of Springfield hasn’t fulfilled a five-year, $25,000 annual pledge.

“The last pledge from the city was received in 2014,” the audit says. “Invest in Clark County, a major fund raising campaign, was initiated in 2012. Pledges received since 2012 total $2,241,100.”

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