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QUINCY, ILL. -- On Wednesday, the Quincy School Board celebrated the good news from a recent financial audit of the district.

The state auditor has removed the district from the financial watch list.

Before being placed on the watch list, the district was 2.2 million dollars in the hole.

Credit for the turn around went to the passage of a working cash bond and the district's deficit reduction plan.

School board president Bill Daniels says there are about 6 different factors that go into the financial profile score for the district.

"There were at least a couple of those factors that we were always in pretty good shape on, that our debt was low and things like that. But we were just short on cash and we always had to borrow and that really hurt us. So the passage of the working cash has really helped stabilize us and put us on a good foundation to at least go forward," Daniels said.

The public can pick up a copy of the auditors report starting Thursday at the Quincy School District offices.

In other news, the board also announced the district has received a 50 thousand dollar grant for building maintenance.