District qualifies for state auditor award

The Elyria City School District has qualified for the Auditor of State Award with Distinction.

After a recent financial audit by Auditor of State Keith Faber’s office, good record keeping has qualified Elyria Schools for the award, according to a news release.

“Keeping accurate financial records allows schools to better serve their students and communities,” Faber said. “Their efforts go a long way toward making Ohio more efficient, effective and transparent.”

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: ethics referrals; questioned costs less than the threshold per the Uniform Guidance; lack of timely report submission; bank 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.