Lakewood Receives ‘Auditor Of State Award With Distinction’

The city of Lakewood has received the Auditor of State Award With Distinction for the its 2013 Comprehensive Annual Financial Report.

A representative from the state auditor’s office stopped by Lakewood City Hall to present the award to city officials on Monday.

“This culminates years of improving the city’s financial position, tightening internal controls, and implementing fiscal best practices,” said Jenn Pae, the city’s finance Director. “This 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.”

The award is presented to the top 5 percent of governments that meet specific criteria during their financial audit.

“Clean and accurate record-keeping are the foundation for good government, and the taxpayers can take pride in your commitment to accountability,” said Dave Yost, the state auditor.

The Auditor of State Award with Distinction is given to entities that file an annual CAFR and timely financial reports, as well as receive a “clean” audit report. 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 confirms the hard work of our entire finance department,” said Lakewood Mayor Michael Summers. “This also affirms our obligation to be excellent stewards of our taxpayers’ dollars.”

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Volume 11, Issue 1, Posted 6:16 PM, 01.06.2015