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Village of Belmore Released from the Auditor of State’s “Unauditable” List
Columbus – This week, due to the restoration of their financial records, Auditor of State Keith Faber removed the Village of Belmore from the Auditor of State’s “unauditable” list.
“Complete, accurate financial records are crucial to a high functioning government,” said Auditor Faber. “I commend local officials and my staff for working hard to restore the village to an auditable status.”
In June 2018, the Auditor’s office declared the village financial records for fiscal year 2016 and 2017 “unauditable” because auditors found their financial statements had not been prepared and submitted in conformity with accounting standards.
Only once an audit in question has been properly completed and released to the public will the Auditor’s office release an entity from the “unauditable” list. An Independent Accounting Firm, Perry and Associates completed the village’s audits and the Auditor of State’s office released them on Tuesday this week.
The audit report revealed instances of noncompliance and material weakness in the financial statements. According to these findings, the Auditor’s office issued recommendations meant to correct the village’s financial processes.
The Auditor of State’s office, one of five independently elected statewide offices in Ohio is responsible for auditing more than 6,000 state and local government agencies. Under the direction of Auditor Keith Faber, the office also provides financial services to local governments, investigates and prevents fraud in public agencies, and promotes transparency in government.