Buckeye Reporter

The Fairview Park City School District’s Treasurer’s office is once again in the spotlight for excellence in financial reporting.

In February, the district received the Ohio Auditor of State’s Award with Distinction for its financials and data reporting for 2021 fiscal year, which ended June 30. The district received a “clean” audit based on information provided in the audit and the Annual Comprehensive Financial Report (ACFR).

According to the Auditor’s website, a district must submit financial reports and the ACFR before the statutory due date to be considered for this award. In addition, the audit must be free of any citations, weaknesses, deficiencies, or comments related to several financial and data reporting areas.

A third-party, independent auditor, James G. Zupka CPA, conducted the district’s financial audit on behalf of the state’s office. The last time the district received the Auditor of State’s Award with Distinction was in 2016.

“An audit vouches for the accuracy and transparency of a district’s financial statements,” Rob Showalter, Treasurer for the Fairview Park City Schools explained. “There’s no such thing as perfect, but this is as close to perfect as you can get. Every transaction passed the auditor’s test as far as compliance and accuracy.”

Besides reviewing the district’s general fund, the audit examines other funds that the district manages. This includes, but is not limited to, grants, athletics, student activities, student wellness and Elementary and Secondary School Emergency Relief (ESSER) funds.

“From our secretaries processing checks at the door, to our teachers and advisors receiving payments from families for student activities and getting those turned in on time, to completing and submitting proper documentation, it starts there,” Showalter explained. “And then it comes to my team of Balbina, Teresa, and Marianne. They not only are doing their job, but they are doing it within the strict parameters that the Auditor of State has set.”

To be eligible to win the award with distinction, a district must file the ACFR in addition to having a clean audit.

“The Annual Comprehensive Financial Report contains the district’s basic financials, along with statistical data like how many teachers we have, how many students,” Showalter said. “It also contains financial trends and demographic information. So it’s additional data to add context for understanding what the information in our financial section says about the District’s overall financial health. We’ve reported at the highest level we possibly can.”

A critical part of the award is the accuracy of the Education Management Information System (EMIS) data. EMIS data includes a lot of student information, including attendance, financial data, demographic information, and employee data.

“The accuracy of that data is also audited,” Showalter added. “The data is tied to our state funding and our state foundation payments. The more accurate our data is, the more accurate our funding from the state will be. That foundation money is about ten percent of our general fund revenue.”

The district also received four stars from the Auditor’s StaRS rating system, which monitors government transparency. According to the Auditor’s website, four stars is the “highest achievement in open and transparent government” and represents five or more best practices with Sunshine law requirements.

“They take a look at our response times and ability to fill public records requests,” Showalter said. “It looks at voluntary practices and procedures that we put in place. We were able to put enough procedures in place for a four-star rating, which is a perfect rating.”

For Showalter, the Auditor’s award is a testament to the dedication and diligence many in the school district put in each day to ensure financial accuracy and accountability.

“We’re very proud and thrilled to be able to accept this award and to celebrate it with our staff,” Showalter expressed. “They do a terrific job of being efficient, effective and accurate every single day. We process thousands of transactions every year, and for there to be no findings on that, I’m beyond proud.”

The 2021 Auditor’s report can be viewed on the Fairview Park City School District website, along with the Ohio Auditor of State.

Click here to read the Ohio Auditor of State’s press release.

Original source can be found here.