Olentangy Schools has again been named a recipient of a Certificate of Achievement for Excellence in Financial Reporting by the Government Finance Officers Association of the United States and Canada (GFOA). The award, considered the highest form of recognition in the area of governmental accounting and financial reporting, is for the district's Comprehensive Annual Financial Report for the fiscal year ended June 30, 2020. "The Comprehensive Annual Financial Report has been judged by an impartial panel to meet the high standards of the program, which includes demonstrating a constructive "spirit of full disclosure" to clearly communicate its financial story and motivate potential users and user groups to read the Comprehensive Annual Financial Report," the GFOA wrote in a release announcing the award. This is the 20th consecutive year that Olentangy Schools has received the coveted award.
The GFOA established the Certificate of Achievement for Excellence in Financial Reporting Program (Certificate Program) in 1945 to encourage and assist state and local governments to go beyond the minimum requirements of generally accepted accounting principles to prepare comprehensive annual financial reports that evidence the spirit of transparency and full disclosure and then to recognize individual governments that succeed in achieving that goal.
The Auditor of State has once again awarded the Auditor of State Award with Distinction to Olentangy Schools for a clean audit report for the fiscal year ended June 30, 2020. This is the ninth consecutive year that the district has achieved this prestigious recognition.
To achieve the award, the entity must file financial reports with the Auditor of State’s office by the statutory due date, on a GAAP accounting basis and prepare a 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. Additionally, 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 annual financial 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, or other financial or other concerns.