Assistant to the Treasurer
Auditor Faber Announces Qualifiers for Auditor of State Award with Distinction
Columbus - A recent financial audits of the following entity by Auditor of State Keith Faber has returned
a clean audit report. Their record keeping has qualified them for the Auditor of State Award.
- Triad Local School District (Champaign County)
"Excellent financial reporting leads to savings for taxpayers," Auditor Faber said. "This award honors the local officials who worked hard to make the school district more efficient, effective, and transparent."
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 Principals);
- 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:
* Ethic's 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
* Public meetings or public records issues
- The entity has no other financial or other concerns
Triad Local Schools was awarded the Ohio Auditor of State Award for the 9th year.