The Comprehensive Annual Financial Report (CAFR) for the year ending December 31, 2016 was released by the Auditor of State (AOS) Dave Yost’s office on Tuesday, August 29, 2017. The City received a clean audit report which qualified them for the Auditor of State Award with Distinction.
“Clean financial books are vital to accountability in government,” Auditor Yost stated in his press release. “These governments are clearly committed to maintaining accurate records and I am proud to present them with this award.”
Specific criteria must be met by entities to receive the Auditor of State Award with Distinction.
Standards include:
• Timely filing of CAFR financial reports with the AOS.
• There must be no findings for recovery, material citations, material weaknesses or significant deficiencies.
• The management letter must not contain comments related to specific areas (i.e. ethics referrals, reconciliations, questioned costs less than $10,000)
• There must be no other financial concerns involving the entity.
The CAFR has been submitted to the Government Finance Officers Association of the United States and Canada (GFOA) for consideration of the GFOA’s Certificate of Achievement for Excellence in Financial Reporting award.
A copy of the 2016 CAFR can be obtained from the Finance Director or on the City’s website, www.lovelandoh.gov/finance.