BEAVERCREEK — Beavercreek Mayor Bob Stone accepted the Ohio Auditor of State Award with Distinction for the City’s Comprehensive Annual Financial Report (CAFR), fiscal year ending 2016 during the Aug. 14 city council meeting.
The Auditor of State presents the award for exemplary financial reporting in accordance with Generally Accepted Accounting Principles (GAAP). The Auditor of State is responsible for over 6,000 entities with less than 10 percent receiving the Auditor of State Award, and of those, only 5 percent receive the award with “Distinction.”
During the meeting it was noted that receiving the Award with Distinction in six of the last seven years is a “prestigious achievement.”
Agencies receiving this award must have a clean report, with no significant deficiencies or findings, no material citations or weaknesses, no single audit findings (grant reporting), and no questionable costs.
“The city has made a significant commitment to provide financially responsible budgets, culminating in excellence in reporting on an annual basis,” said Mayor Stone. “The city residents should be proud of the city’s commitment to maintain these high standards that are recognized by outside organizations. The Ohio Auditor of State Award for seven consecutive years coupled with the city receiving twenty-three consecutive years of the Certificate of Achievement for Excellence in Financial Reporting from the Government Finance Officers Association demonstrates the City’s diligence in maintaining outstanding stewardship of residents’ taxes and its continual goal in reporting these results according to the highest government accounting standards now and in the future.”
Besides the detailed budget processes and accurate financial reporting, the city also emphasizes the transparency of its financial records. This includes the implementation of the Opengov checkbook that was released in April 2016. This easy to use website, allows residents to review all expenditures for the city for the past three years and the most recent quarters. These reports can be found on the city’s website at www.beavercreekohio.gov.