A recent financial audit of the Olentangy Local School District by Auditor of State Dave Yost’s office has returned a clean audit report.
The Olentangy district’s excellent record keeping has qualified it for the Auditor of State Award with Distinction, the office said in a prepared statement.
Yost also announced that the Delaware Area Career Center received the Auditor of State Award for its clean audit report.
“Good finance is important to everything government does,” Yost said. “Sound budgetary decisions depend on clean and accurate books.”
The Auditor of State Award with Distinction is presented 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 timely financial reports with the state Auditor’s Office in the form of a CAFR (Comprehensive Annual Financial Report).
• The audit report does not contain any findings for recovery, material citations, material weaknesses, significant deficiencies, single audit findings or questioned costs.
• The entity’s management letter contains no comments related to ethics referrals; questioned costs less than $10,000; lack of timely report submission; reconciliation; failure to obtain a timely single audit; findings for recovery less than $100; public meetings or public records.
• No other financial or other concerns exist that involve eligible entity.
The Auditor of State Award is presented to local governments and school districts upon the completion of a financial audit.
Information for this story was provided by the state Auditor’s Office.