Xenia schools receive financial award

XENIA — Xenia Community Schools has received the Auditor of State Award with Distinction for a clean audit report for the last fiscal year.

“As a district, we endeavor to be good stewards of the resources that we have,” said Carolyn Huber, district treasurer. “One of the ways that we can demonstrate that commitment to our community is by being transparent and ‘clean’ with financial information.”

The award is based on meeting the criteria for a “clean” audit report.

In order to qualify, the entity must file financial reports with the auditor of state’s office by the statutory due date, without extension, via the Hinkle System, on a GAAP accounting basis and prepare a CAFR (comprehensive annual financial report) and the audit report must not contain any findings for recovery, material citations, material weaknesses, significant deficiencies, uniform guidance (single audit) findings or questioned costs.

In addition, the entity’s management letter must not contain comments related to: ethics referrals; questioned costs less than the threshold per the uniform guidance; lack of timely report submission; bank reconciliation issues; failure to obtain a timely single audit in accordance with uniform guidance; findings for recovery less than $500; and public meetings or public records issues.

The entity must not have any other financial or other non-financial concerns.

The award will be presented at the April 13 board of education meeting.