After a recent financial audit by Auditor of State Keith Faber’s office, good record keeping has qualified Olentangy Local School District (Delaware County) for the Auditor of State Award with Distinction. This is the tenth consecutive year Olentangy has received this award for accounting excellence.
“This award recognizes the hard work of fiscal offices to keep clean, accurate records,” said Auditor Faber. “Their efforts go a long way toward making Ohio more efficient, effective, and transparent.”
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 an Annual Comprehensive 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
- Public meetings or public records issues
- The entity has no other financial or other concerns
The Auditor of State’s office audits more than 6,000 state and local government agencies across the state of Ohio, with only 3-5% of the entities eligible for the Award of Distinction, and even less receiving the honor.
Full copies of these reports are available online.