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Auditor Faber Releases Franklin Township from Fiscal Caution
Columbus –Today Auditor of State Keith Faber released Franklin Township (Richland County) from fiscal caution status.
The Auditor made this determination because the township has eliminated all fund deficits, significant deficiencies, material weaknesses, and noncompliance issues.
“Franklin Township was moving quickly toward financial disaster,” Auditor Faber remarked. “To their credit, after being placed in fiscal caution, township leaders stepped up and made the necessary changes to help turn their financial fortunes around.”
On Aug. 8, 2013, the Auditor of State’s office declared the township to be in fiscal caution because the 2010 financial audit included significant deficiencies, material weakness, and noncompliance with Ohio law. Additionally, the township failed to file annual reports with the Auditor of State’s office. In 2012, auditors could not determine the township’s fund balances because of the poor condition of the financial records and the last book to bank reconciliation at that time had been December 31, 2010 (30 months).
Over the past several years, the Local Government Services section of the Auditor of State’s office worked with the township’s Fiscal Officer to restore the township’s deficit funds. By increasing revenue, reducing expenses and complying with Ohio Revised Code for budgeting the township has no deficit funds as of Apr. 16, 2019.
The township also corrected the significant deficiencies, material weaknesses, and noncompliance issues that the Auditor of State’s office outlined in the 2010 audit.
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.