Oakwood receives state financial award

Oakwood was named a recipient of the Auditor of State award. TY GREENLEES / STAFF

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Oakwood was named a recipient of the Auditor of State award. TY GREENLEES / STAFF

The city of Oakwood and Butler County Regional Transit Authority were two of eight Ohio entities to receive the Auditor of State Award from Dave Yost’s office, according to a press release.

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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:

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  • The entity must file timely financial reports with the Auditor of State's office in accordance with GAAP (Generally Accepted Accounting Principles);
  • 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:
    • Ethics referrals
    • Questioned costs less than $10,000
    • Lack of timely report submission
    • Reconciliation
    • Failure to obtain a timely Single Audit
    • Findings for recovery less than $100
    • Public meetings or public records
  • No other financial or other concerns exist that involve eligible entity.

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Oakwood and the Butler County RTA were joined by the city of University Heights (Cuyahoga County), Fayette County Metropolitan Housing Authority (Fayette County), Groveport Community Improvement Corporation (Franklin County), Hancock County Educational Service Center (Hancock County), Hocking Valley Community Hospital (Hocking County) and New Albany Community Improvement Corporation (Franklin County).

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