Last updated: July 30. 2014 2:19PM - 269 Views

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XENIA — Auditor of State Dave Yost recently announced that the Greene County Transit Board received the Auditor of State Award for their clean audit report.

“We appreciate Auditor Yost recognizing our organization for having a clean audit,” said Executive Director Ken Collier following the July 22 announcement. “Our Chief Financial Officer, Marilyn Ratcliff, does an excellent job making sure that the Transit Board conducts its financial affairs according to generally accepted accounting principles. In addition, our Finance Committee and the Transit Board review the financial reports monthly to provide oversight of financial matters.”

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 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

A full copy of the audit can be found online at the Ohio Auditor of State website at https://ohioauditor.gov/auditsearch/detail.aspx?ReportID=109137.

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