The Government Finance Officers Association of the United States and Canada (GFOA) has awarded a Certificate of Achievement for Excellence in Financial Reporting to Olentangy Schools for its comprehensive annual financial report for the fiscal year ended June 30, 2018. This was the eighteenth consecutive year that the district has achieved this prestigious award.
In order to be awarded a Certificate of Achievement, a government must publish an easily readable and efficiently organized comprehensive annual financial report. This report must satisfy both generally accepted accounting principles and applicable legal requirements.
The Auditor of State has awarded the Auditor of State Award with Distinction to Olentangy Schools for a “clean” audit report for the fiscal year ended June 30, 2019. This was the seventh consecutive year that the district has achieved this prestigious award.
To achieve this 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 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. 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.