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Lakewood qualifies for Auditor of State Award with Distinction

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    Reconciliation

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.

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