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Auditor Faber Announces Qualifiers for Auditor of State Award with Distinction
Columbus – Recent financial audits of the following entities by Auditor of State Keith Faber have returned clean audit reports. Their record keeping has qualified them for the Auditor of State Award with Distinction.
· Olentangy Local School District (Franklin County)
· Great Oaks Career Campuses (Hamilton County)
“Excellent financial reporting is the first defense against fraud, waste, and abuse,” Auditor Faber said. “This award honors the officials who are diligent in accounting for the taxpayer’s money.”
The Auditor’s Office presents the Auditor of State Award with Distinction 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 financial reports with the Auditor of State’s office by the statutory due date, without extension, via the Hinkle System, on a GAAP accounting basis and prepare a CAFR (Comprehensive Annual Financial Report);
· The audit report does not contain any findings for recovery, material citations, material weaknesses, significant deficiencies, Uniform Guidance (Single Audit) findings or questioned costs;
· The entity’s management letter contains no comments related to:
o Ethics referrals
o Questioned costs less than the threshold per the Uniform Guidance
o Lack of timely report submission
o Bank reconciliation issues
o Failure to obtain a timely Single Audit in accordance with Uniform Guidance
o Findings for recovery less than $500
o Public meetings or public records issues
· The entity has no other financial or other concerns
Full copies of these reports are available online.
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.