DISTRICT EARNS AUDITOR OF STATE AWARD

[Edward Favre]

Auditor of State Dave Yost recently announced that the Lakewood City School District has earned the Auditor of State Award. This award is presented to local government and school districts upon the successful completion of a financial audit.

•Entities that receive the award must meet the following 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 entitiy's management letter contains no comments related to: Ethics referrals, questioned costs less than $10,000, lack of timely report submission, reconciliation, failure to obtain a timely Single Audit, findings for recovery less than $100, public meetings or public records