A recent financial audit of the South Euclid-Lyndhurst Schools by the Auditor of State Dave Yost's office has returned a clean audit report. SE-L's excellent record keeping has earned it theAuditor of State Award.
"The Board of Education and the community expects and deserves no less than a clean audit each and every year and that is my expectation as well. We are hopeful that our community recognizes that we are excellent stewards of their tax dollars and we strive to stretch every dollar as far as we possibly can", said Board President Stefanie Rhine.
The Auditor of State Award is presented to local governments and school district upon the completion of a financial audit. Entities that receive the award meet the following criteria of a "clean" audit report:
- Must be a GAAP entity without a CAFR (Certified Annual Financial report) that timely files their financial reports with the Auditor of State;
- 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