Recent financial audits of the Avon, Elyria and Keystone school districts by Auditor of State Keith Faber have returned a clean audit reports.
The record keeping of the districts qualified them for the Auditor of State Award with Distinction, according to a Jan. 27 news release from the Auditor’s Office.
“By their diligent financial record keeping, these school districts have demonstrated their commitment to their students and taxpayers,” Faber said. “This award honors the hard work of the local officials responsible for keeping financial records.”
The Auditor’s Office presents the Auditor of State Award with Distinction to local governments and school districts upon the completion of a financial audit. Entities that receive the award meet the following criteria of a “clean” audit report:
• The entity must file financial reports with the Auditor of State’s office by the statutory due date, without extension, via the Hinkle System, on a GAAP accounting basis and prepare a CAFR (Comprehensive Annual Financial Report).
• The audit report does not contain any findings for recovery, material citations, material weaknesses, significant deficiencies, Uniform Guidance (Single Audit) findings or questioned costs.
• The entity’s management letter contains no comments related to ethics referrals, questioned costs less than the threshold per the Uniform Guidance, lack of timely report submission, bank reconciliation issues, failure to obtain a timely Single Audit in accordance with Uniform Guidance, findings for recovery less than $500 and public meetings or public records issues.
• The entity has no other financial or other concerns.
