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Auditor Dave Yost Announces LEAP Fund Recipients

Tuesday, July 12, 2011

Columbus - Auditor of State Dave Yost’s mission of skinnier, smarter governments takes another step forward with the announcement today of the first six recipients of LEAP funding for performance audits.
 
“I am thrilled to announce the first recipients of LEAP funds,” Auditor Yost said.  “Performance audits can help lay the foundation for “skinny” government, and the LEAP Fund provides access to the entities that need one most.  My office is looking forward to getting down to business and searching for savings for each of these six entities.”
 
The first six recipients of LEAP funding are:

  • City of Chardon
  • Clark County Auditor’s Office
  • City of Findlay
  • City of Fostoria
  • City of Salem
  • Washington County
The Leverage for Efficiency, Accountability and Performance Fund (LEAP Fund) is a $1.5 million fund that advances the cost of a performance audit to entities that might otherwise not be able to afford to have one conducted.  Costs will be repaid the following year from the savings reaped from the audit’s recommendations and sown again into new performance audits. Currently, on average, for each $1 spent on a performance audit, $23 in potential savings is identified.
 
A second round of LEAP funds will be awarded in the second half of this fiscal year.  All applications are reviewed and ranked by a selection committee comprised of one representative each from the Audit Division, Performance Audit Section and Local Government Services Section. Applications are ranked based on the applicant’s responses to a set of questions to help determine where LEAP funds may have the greatest impact.
 
LEAP funds became available after the passage of Senate Bill 4, signed by Governor Kasich on April 5, 2011.  Applications for the LEAP Fund were due to be emailed to the Auditor of State’s office by 4:00 p.m. on May 31, 2011.

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The Auditor of State’s office, one of five independently elected offices in Ohio, is responsible for auditing more than 5,600 state and local government agencies.  Under the direction of Auditor Dave Yost, the office also provides financial services to local governments, investigates and prevents fraud in public agencies and promotes transparency in government.

Contact:
Carrie Bartunek
Press Secretary
(614) 728-7198