Keystone Schools earns audit award

Keystone Schools is among several in Ohio recognized for their clean audit report, according to a news release. “While a school district’s first responsibility is providing a quality education for its students, it must also remain accountable to tax payers,” said state Auditor Keith Faber. “These districts put in the hard work to keep accurate financial records, and I am proud to present them with this award.” 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, according to a news release. Entities that receive the award meet the following criteria of a “clean” audit report: The entity must file timely financial reports with the Auditor of State’s office via the Hinkle System in accordance with GAAP accounting basis and prepare a 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 ethics referrals; questioned costs less than the threshold per the Uniform Guidance; lack of timely report submission; reconciliation issues; failure to obtain a timely single audit in accordance with Uniform Guidance; findings for recovery less than $500; public meetings or public records issues; and the entity has no other financial or other concerns.