COLUMBUS – Lakewood Local School District was one of seven school districts whose recent financial audit qualified them for the Auditor of State Award with Distinction.
“While a school district’s primary concern is its students, it must also remain accountable to taxpayers,” State Auditor Dave Yost said. “Accurate record keeping is clearly a priority for these districts, and I am proud to present them with this award.”
The Auditor of State Award with Distinction 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 the form of a CAFR (Comprehensive Annual Financial Report);
- The audit report 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:
o Ethics referrals
o Questioned costs less than $10,000
o Lack of timely report submission
o Failure to obtain a timely Single Audit
o Findings for recovery less than $100
o Public meetings or public records
- No other financial or other concerns exist that involve eligible entity.