For the fourth consecutive year, the City of Shaker Heights has received the Auditor of State Award with Distinction "for excellence in financial reporting." The award recognizes the City’s Annual Comprehensive Financial Report for the fiscal year that ended in 2023.
“By keeping accurate financial records, governing bodies demonstrate their commitment to efficient, effective, and transparent service,” Ohio Auditor of State Keith Faber said in a statement. “This award honors public entities that have put in the hard work to keep their finances in order.”
Entities that receive the award meet the following criteria of a “clean” audit report:
- The entity must file financial reports with the Auditor of State’s office by the statutory due date, without extension, via the Hinkle System, on a GAAP accounting basis and prepare a CAFR (Comprehensive Annual Financial Report);
- The audit report does not contain any findings for recovery, material citations, material weaknesses, significant deficiencies, Uniform Guidance (Single Audit) findings or questioned costs;
- The entity’s management letter contains no comments related to:
- Ethics referrals
- Questioned costs less than the threshold per the Uniform Guidance
- Lack of timely report submission
- Bank reconciliation issues
- Failure to obtain a timely Single Audit in accordance with Uniform Guidance
- Findings for recovery less than $500
- Public meetings or public records issues
- The entity has no other financial or other concerns