A recent audit of Madeira City Schools by the Auditor of State’s office has returned a clean audit report. Madeira City School’s excellent record keeping has earned it the Auditor of State Award.
District Treasurer Susan Crabill stated, “The Auditor of State’s Award represents the understanding of the importance of following best practices in financial controls. Our district receiving this award is due to the fiscal responsibility of our Board of Education, all our employees, and particularly the Treasurer's office staff."
The Auditor of State Award is presented 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 timely financial reports with the Auditor of State’s office in accordance with GAAP (Generally Accepted Accounting Principles);
• The audit repot does not contain any findings for recovery, material citations, material weaknesses, significant deficiencies, Single Audit findings or questioned costs;
• The entity’s management letter contains no comments related to:
Questioned costs less than $10,000
Lack of timely report submission
Failure to obtain a timely Single Audit
Findings for recovery less than $100
Public meetings or public records
For the letter from Auditor of State Dave Yost, please see Auditor of State Award.