The Northwestern Water and Sewer District announced that after its recent financial audit by Auditor of State Keith Faber’s office, good record keeping has qualified the district for the Auditor of State Award with Distinction.
Northwest Regional Liaison to the Auditor of State Lori Brodie presented the award during a recent trustees meeting.
The state auditor is responsible for auditing nearly 6,000 state and local government agencies. Only 3-5% of those agencies qualify for the Auditor of State Award with Distinction.
According to the Auditor of State website, to receive this award, entities must 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, on a GAAP accounting basis and prepare an Annual Comprehensive 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:
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
The full reports will be available on the AOS website using Audit Search.