XENIA — The City of Xenia recently received the Award of Distinction in Financial Reporting after the city’s Annual Comprehensive Financial Report (for fiscal year 2021) was reviewed.
According to the city’s website, the state auditor’s office audits nearly 6,000 local governments and school districts in the state and less than 4 percent of those entities are eligible for the award. The city previously received this honor in 2018, 2019, and 2020.
“The city of Xenia Finance Division takes its job handling public funds very perilously,” said Jason Lake, assistant finance director. “We are pleased their hard work has once again been recognized by the state auditor with their highest award in financial reporting and we will continue to strive for excellence.”
The criteria to be considered for this award includes filing financial reports with the Auditor of State’s office by the statutory due date and preparing an Annual Comprehensive Financial Report. The report must not contain any findings for recovery, significant deficiencies, or questioned costs. The city must also be in good financial standing and have no designations of fiscal distress or other financial concerns identified by the state.
The entity’s management letter, which is prepared by the auditor and discusses findings from the audit, must not contain comments including those related to public meetings or public records issues, bank reconciliation issues, ethics referrals, and questioned costs.