“Unauditable” Designation Removed from Charter School

State funding for The Montessori Renaissance Experience no longer at risk

Thursday, May 15, 2008

Columbus -

Auditor of State Mary Taylor today released the fiscal year 2006 and 2007 audits of The Montessori Renaissance Experience community school.  The release of the fiscal year 2007 audit removes the unauditable designation made by the Auditor of State’s office earlier this year.  Additionally, the school avoids the possibility of losing state funding since the unauditable designation is removed with the release of today’s audit.

The Montessori Renaissance Experience community school was declared unauditable, or unable to be audited due to missing or incomplete financial records, on March 6 for the fiscal year 2007 audit period. 

“All public entities must be held accountable for the tax dollars they spend,” said Taylor.  “It is necessary that all school officials maintain accurate and complete accounting records so financial audits can be conducted by my office.  The community deserves to know how their tax dollars are spent. .”

In June 2007, Taylor worked with state legislators to enact legislation that addresses record keeping deficiencies on the part of certain community schools.  As a result of this law, The Montessori Renaissance Experience’s funding could have been discontinued if they failed to submit financial statements and corresponding supporting documentation to the Auditor of State by June 4, 2008.  Additionally, the release of this audit will lift the prohibition imposed on the school’s sponsor, Kids Count of Dayton, Inc., from contracting with additional schools while the school was considered unauditable. 

In 2007, Taylor hosted the first ever series of financial training workshops for community schools around the state.  The 2008 training sessions have been scheduled for August 15 in Akron/Canton and August 19 in Cincinnati/Dayton.  Further information will be available at www.auditor.state.oh.us.  The voluntary workshops offer financial, accounting and compliance training to community school sponsors, administrators, fiscal officers, board members and management companies. In total, 270 individuals participated in the training workshops in 2007.