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School district awarded for 'being good stewards of the tax dollars'

Zoe Greszler • Jun 28, 2018 at 5:00 PM

NEW LONDON — New London Local Schools recently was recognized for its good use of its finances.   

Auditor of State Dave Yost announced the district received the Auditor of State Award for its clean audit reports, the only school from Huron County on the list. 

“Everything we do on a daily basis is audited by the auditor’s office,” school treasurer James Hudson said. “That means we need to make sure we have ... sound policies and procedures in place to make sure everything we do is in line with the laws. That’s part of the effort we put in everyday.”

Hudson said because of the hard work that goes into receiving the award, he’s “very proud” of it.

“We’ve received it in the past,” he said, “but it means that we’re being fiscally responsible and accountable and that we’re being good stewards of the tax dollars we receive.”

The teasurer said while there’s “a little separation of the financial and educational aspects” in a school system, he said it still reflects well on the district’s ability to give a quality education.

The Auditor of State Award is presented to local governments and school districts upon the completion of a financial audit. Entities that receive the award meet several criteria of a “clean” audit report. These include filing timely financial reports with the state auditor’s office and ensuring the audit report doesn’t contain any findings for recovery, material citations, material weaknesses, significant deficiencies, single audit findings or questioned costs.

It also mean’s in the auditor’s comments, the entity's management letter contains no comments related to ethics referrals, questioned costs less than $10,000, a lack of timely report submission, reconciliation, failure to obtain a timely single audit, findings for recovery less than $100, or public meetings or public records.

According to the auditor’s press release, it also means there were no other financial or other concerns.

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