Oakwood Schools is being recognized as one of 20 districts across the state to receive the Auditor of State Award with Distinction. The Auditor’s Office presents the Auditor of State Award with Distinction to local governments and school districts that receive a “clean” audit report upon the completion of a financial audit.
“By keeping accurate financial records, governing bodies demonstrate their commitment to efficient, effective and transparent service,” Auditor of State Keith Faber said. “This award honors public entities that have put in the hard work to keep their finances in order.”
The Auditor of State Award with Distinction was presented to just four percent of the public entities that filed financial reports with the State of Ohio in 2022.
“Oakwood Schools is dedicated to providing accurate, consistent and transparent financial reporting. This award demonstrates the hard work of our team and staff throughout the district to provide exceptional education to our students while remaining good stewards of our taxpayers’ dollars,” Oakwood Schools Treasurer Laura Sauber said.
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
- The entity has no other financial or other concerns
Full copies of the Oakwood Schools audit reports are available online on the State Auditor’s website.