Auditor of State Dave Yost announced Thursday that London City Schools received the Auditor of State Award for the district having a “clean” audit report for the fiscal year ending on June 30, 2017.
The award is presented to a school district or local government body at the completion of a financial audit.
“I think it’s a reflection of what the district has been trying to do financially,” said London City Schools superintendent, Lou Kramer. “It’s really a testament to our staff.”
The audit was done over the course of an administrative position change in the district. Previous treasurer, Kristine Blind, accepted a position with a Franklin County school district and current district treasurer, Trevor Gummere, was hired in her place.
“It’s really Kristine’s audit since she was here when it started, but they both have been really helpful,” Kramer said. “It’s really positive for our schools and an indication of the practices we have in place and the oversight of district financial procedures.”
Kramer added that support from the community lends to the success of the district’s finances as well.
“I don’t anticipate being on the ballot with a levy before its needing a renewal,” Kramer said. The district was last on the ballot in 2014 for the renewal of a previous levy which passed. “Thanks to the community, that should remain the same.”
Gummere echoed Kramer’s thoughts, saying it’s the district’s duty to handle the finances properly.
“That’s not our money, it’s the taxpayer’s money so we have to do this right,” he said. “The people who really deserve to be commended are the treasurer’s staff, the principal’s staff, the secretaries. Everyone just has a great understanding of those policies. Especially our previous treasurer, Kristine. It was great of her and the superintendent to get those policies in place.”
According to the release from the Auditor’s office, in order to receive the award, a district must meet a set of criteria:
• 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
• 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.
A PDF of the district’s full audit is available on the Auditor of State’s website at ohioauditor.gov/.
Reach Michael Williamson at 740-852-1616, ext. 1619.