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Taylor Releases Urban Youth Academy Audit
Clark County -
Auditor of State Mary Taylor released the 2006 audit of the Urban Youth Academy today. The audit finds that the school finished its second year of operation with a deficit of more than $140,000 and questions the academy’s ability to continue.
“Operating with a significant deficit could lead to the academy’s inability to pay its bills. This could ultimately force them to close their doors. School officials must develop and implement a plan to address this situation and restore financial stability,” Taylor said.
This is the second audit of the academy since it opened on September 1, 2004. The first audit found that the school had incurred a deficit of $2,962. Since then, that deficit has grown to $142,840. The audit also reveals that school officials:
• Did not make $14,034 in payments to the School Employees Retirement System. Making employee contributions to SERS in a timely manner reduces the likelihood of future fines and other fees.
• Failed to maintain records tracking the use of sick, personal and vacation time. This could result in an employee receiving unearned benefits or losing time they have rightfully earned.
• Overpaid a development consultant by $640 which has since been repaid.
“This audit shows the need for the financial training workshops my office is offering to community school personnel across the state. Learning and implementing proper accounting practices and procedures will help to prevent potential problems when the time comes to complete a financial audit,” Taylor said.
Taylor recently announced a series of Community School Training seminars in four locations throughout the state. The training is specifically designed for board members, fiscal officers, sponsors and other community school employees. Representatives from the Auditor of State’s Office, the Department of Education and the Small Business Administration will present workshops regarding legal requirements, audit preparation, grants, financial forecasting and community school business planning.
The training seminars will be held:
• Tuesday, July 24th at the Mandalay Banquet Center in Dayton, Ohio
• Wednesday, July 25th at the Longaberger Alumni House in Columbus, Ohio
• Monday, August 6th at the University of Akron
• Tuesday, August 7th at the University of Toledo
The Ohio Auditor of State’s Office is one of the largest accounting offices in the nation. The office strives to ensure that all public funds are spent legally and appropriately and works aggressively to root out fraud, waste and abuse in public spending. Taylor encourages anyone suspecting fraud or misspending of public dollars to contact her office toll free at 1-866-FRAUD-OH (1-866-372-8364).