On Monday, March 10, 2014, Mr. Derek Merrin of the Auditor of Sate’s Office presented Wauseon Treasurer, Mrs. Karen Dameron, with the Auditor of State Award during the March board meeting. Mr. Merrin is the Northwest Ohio Regional Liaison to Ohio Auditor of State Mr. Dave Yost.
In a letter accompanying the award, Mr. Yost wrote, “Congratulations! Based upon your recently completed financial audit, it gives me great pleasure to inform you that the Wauseon Exempted Village School District has received the Auditor of State Award. Clean and accurate record-keeping are the foundation for good government and the taxpayers can take pride in your commitment to accountability.”
The Auditor of State Award is given to those entities that file timely financial reports in accordance with Generally Accepted Accounting Principles (GAAP), as well as receive a “clean” audit report. The “clean” audit report means that the financial audit did not contain findings for recovery, material citations, material weaknesses, significant deficiencies, Single Audit findings or any questioned costs.
During the award presentation, Mr. Merrin shared that less than 10% of school districts in Ohio meet the standards necessary to receive this prestigious state recognition.
The Auditor of State Award is presented to local governments and school districts upon completion of a financial audit. Entities that receive the award meet the following criteria of a “clean” audit report:
- Must be a GAAP entity without a CAFR (Certified Annual Financial Report) that timely files their financial reports with the Auditor of State
- The audit report does not contain any findings for recovery, material citations, material weaknesses, significant deficiencies, Single Audit findings, or questioned costs
- Ethics referrals
- Questioned cost less than $10,000
- Lack of timely report submission
- Reconciliation
- Failure to obtain a timely Single Audit
- Finding for recovery less than $100
- Public meetings or public records
Mrs. Dameron, members of the fiscal staff, and all of the staff members of our district can be proud of this award as the district strives to utilize the financial recourses available in a responsible manner.