State Auditor’s Office recognizes city’s ‘clean’ audit

Submitted story

The city of Urbana received an Auditor of State Award for its 2017 audit, according to a news release from the state Auditor’s Office. Local governments and school districts submitting “clean” audits have met the following guidelines:

• The entity must file timely financial reports with the Auditor of State’s office in accordance with GAAP (Generally Accepted Accounting Principles)

• 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

– 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

Submitted story

Submitted by the State Auditor’s Office.

Submitted by the State Auditor’s Office.