Lakewood Receives Auditor of State Award with Distinction in Recent Financial AuditJuly 22, 2019
Lakewood’s recent financial audit has returned a clean audit report from Auditor of State Keith Faber. Beyond receiving a clean audit report, the City’s record-keeping has qualified for the Auditor of State Award with Distinction.
“Accurate bookkeeping is a critical component of efficient government,” Auditor Faber said. “These governments have shown their commitment to saving taxpayer’s money, and I am proud to present them with this award.”
The Auditor’s Office presents the Auditor of State Award with Distinction to local governments and school districts upon the completion of a financial audit. The clean audit report means that Lakewood’s financial audit did not contain findings for recovery, material citations, material weaknesses, significant deficiencies, Single Audit findings or any questioned costs.
“This significant and important award from the state of Ohio affirms our obligation to be excellent stewards of our taxpayers’ dollars,” said Lakewood Mayor Michael Summers. “It also confirms the continued hard work of our entire finance department.”
This is the fifth time that Lakewood has received the Auditor of State Award with Distinction.
“This award would not be possible without the hard work of the Lakewood Finance Department employees, and the much-valued assistance and input of the City’s Audit Committee,” said Jenn Pae, the city’s finance director. “This culminates years of improving the city’s financial position, tightening internal controls, and implementing fiscal best practices.”
To review the full report from the Auditor of State’s office, please visit http://bit.ly/2Sq7Tzr.
The Auditor of State’s office, one of five independently elected statewide offices in Ohio is responsible for auditing more than 6,000 state and local government agencies. Under the direction of Auditor Keith Faber, the office also provides financial services to local governments, investigates and prevents fraud in public agencies, and promotes transparency in government.