March 1, 2021, Canton, OH – The Auditor of the State, Keith Faber, presented the Stark Metropolitan Housing Authority (SMHA) with the Ohio Auditor of State Award.
This award is presented for excellence in financial reporting in accordance with Generally Accepted Accounting Principles (GAAP) and compliance with applicable laws for the fiscal year ending 2020.
Auditor Faber said: “The citizens you represent are well served by your effective and accountable financial practices.”
Eligible entities that receive the award meet the following criteria of a “clean” audit report:
- The entity must file financial reports with the Auditor of the State’s office by the statutory due date, without extension, via the Hinkle System and in accordance with GAAP (Generally Accepted Accounting Principles);
- 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:
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- 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