The London City School District in Madison County is one of more than a dozen school districts in the state to receive the Auditor of State Award this year.
The award is presented to local governments and school districts upon the completion of a financial audit. Entities that receive the award meet the criteria of a “clean” audit report.
To receive an Auditor of State Award, the entity must file timely financial reports with the Auditor of State’s office in accordance with Generally Accepted Accounting Principles. The audit report must also not contain any findings for recovery, material citations, material weaknesses, significant deficiencies, Single Audit findings or questioned costs. The entity's management letter must also contain no comments related to ethics referrals, questioned costs less than $10,000, findings for recovery less than $100.