RACINE — Southern Local School District recently received the Ohio Auditor of State Award from Auditor of State Keith Faber.
The award is presented to government entities who have a clean audit report and meet a number of standards set by the Auditor of State’s Office.
Southern Local received the recent award for it’s clean audit report for fiscal year 2020. The district also received the award last year.
“It is our goal to be good stewards of our taxpayers’ dollars and this award is testimony to the dedication and excellent work of all staff members across the District who handle public funds. We take pride in our effective and accountable financial practices,” stated Southern Local Treasurer Christi Hendrix.
“The award is presented for excellence in financial reporting in accordance with Generally Accepted Accounting Principles (GAAP) and compliance with applicable laws for the fiscal year ended 2020,” read the certificate presented to the district. “The citizens you represent are well-served by your effective and accountable financial practices.”
The Auditor’s office presents the Auditor of State Award 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 and in accordance with GAAP (Generally Accepted Accounting Principles);
· The audit report does not contain any findings for recovery, material citations, material weakness, significant deficiencies, Uniform Guidance (Single Audit) findings or questioned costs;
· The entity’s management letter contains no comment related to: Ethics referrals; Questioned costs less than the threshold per the Uniform Guidance; Lack of timely annual financial report submission; Bank reconciliation issues; Failure to obtain a timely Single Audit in accordance with Uniform Guidance; Findings for recovery less than $500; and 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.
Information provided by Southern Local School District and the office of Auditor of State Keith Faber.