Hamilton County -
Auditor of State Mary Taylor today released the audit of the Wyoming City School District for fiscal year 2006. The release of the audit formally removes the school district from the Auditor of State’s list of “unauditable” public entities.
The district was declared “unauditable” on February 7, 2007 for providing the State Auditor’s office with checking account documents that included numerous errors and inaccuracies. However, over the course of the audit, school administrators corrected many outstanding issues and brought district finances into an auditable condition.
“Wyoming City School District officials addressed many of the financial concerns raised after the audit process for fiscal year 2006 commenced,” Taylor said. “School administrators should be commended for implementing policies and procedures that could help prevent similar issues from occurring in future audits of the district.”
The audit outlines additional issues district officials have taken steps to correct, including:
- Spending more money than what the board of education had budgeted for the school year which could lead to future financial distress
- The lack of a formal policy governing the financial management of student activity funds
- The failure to adopt a formal capital asset policy tracking district owned furniture and equipment
A full copy of the audit is available online at www.auditor.state.oh.us.
The Ohio Auditor of State’s office is one of the largest accounting offices in the nation. The office strives to ensure that all public funds are spent legally and appropriately and works aggressively to root out fraud, waste and abuse in public spending. Taylor encourages anyone suspecting fraud or misspending of public dollars to contact her office toll free at 1-866-FRAUD-OH (1-866-372-8364).