COLUMBUS — A recent financial audit of the city of Troy (Miami County) by Auditor of State Dave Yost’s office has returned a clean audit report. The city’s excellent record keeping has qualified it for the Auditor of State Award with Distinction.
“Taxpayers expect accurate financial records from their local governments,” Yost said. “The City of Troy’s dedication to accountability is evident.”
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:
— Ethics referrals
— 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.