PIQUA — High standards and hard work have paid off for Piqua City Schools, as the district earlier this week received the Auditor of State Award for its clean audit report.
“We are ecstatic that we had a clean audit. It’s a huge success for us,” said Jeremie Hittle, chief financial officer and treasurer for PCS. “We have gone to great lengths to put into place strict financial management practices that stretch and protect our precious resources. This award is reflective of those high standards of financial excellence.”
The Auditor of State Award is presented to local governments and school districts upon completion of a financial audit. Entities that receive the award must meet the following specific criteria:
• The entity must file timely financial reports with the Auditor of State’s office in accordance with Generally Accepted Accounting Principles (GAAP)
• The 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 – Reconciliation
– 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.
“It’s actually a huge step, as we were out with private auditors for 10 years,” Hittle noted. “Many times, when a district comes back in after having private auditors, they end up getting long audits.”
According to Hittle, the standards that PCS has in place, and the hard work of the district’s staff ensure that “taxpayer resources are being used in appropriate ways to provide a good value to the community.”
Hittle added the award is proof that PCS is empowering the community by being transparent with is finances.
“What it boils down to is that we are doing what the state and federal government requires us to do,” he said. “The bottom line is, we’re doing it all correctly.”
A full copy of the report is available online at https://ohioauditor.gov/auditsearch/results.aspx?ReleaseDate=02/09/16.
Reach Belinda M. Paschal at (937) 451-3341.