A recent financial audit of the Sycamore Community City School District by Auditor of State Dave Yost’s office has returned a clean audit report. The district’s excellent record keeping has qualified it for the Auditor of State Award with Distinction.
“Good finance is important to everything government does,” Auditor Yost said. “Sound budgetary decisions depend on clean and accurate books.”
The Auditor of State Award with Distinction 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 the form of a CAFR (Comprehensive Annual Financial Report);
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:
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.