JACKSON — The City of Jackson has once again received an Ohio Auditor of State Award for its excellence in financial reporting for the fiscal year 2020.
The award was presented to Jackson City Auditor Brett Reed, and his team, by none other than Ohio State Auditor Keith Faber himself. Faber made the trip down to Jackson from Columbus.
The Ohio State Auditor’s Office presents the award 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 financial reports with the Auditor of State’s office by the statutory due date, without extension, via the Hinkle System and in accordance with GAAP (Generally Accepted Accounting Principles);
The audit report does not contain any findings for recovery, material citations, material weakness, significant deficiencies, Uniform Guidance (Single Audit) findings or questioned costs;
The entity’s management letter contains no comment related to:
- Ethics referrals
- Questioned costs less than the threshold per the Uniform Guidance
- Lack of timely annual financial report submission
- Bank reconciliation issues
- Failure to obtain a timely Single Audit in accordance with Uniform Guidance
- Findings for recovery less than $500
- Public meetings or public records issues
- The entity has no other financial, or o
- ther concerns
Reed has previously explained that less than eight percent of the 6,000 entities audited by the state earn this award.