A recent financial audit of the Central Ohio Transit Authority by Auditor of State Dave Yost’s office has returned a clean audit report. COTA's excellent record keeping has earned it the Auditor of State Award with Distinction for the fifth year in a row.
The Auditor of State Award with Distinction is presented to local governments and school districts upon the completion of a financial audit. Entities that receive the award meet the following criteria of a “clean” audit report:
The entity must file timely financial reports with the Auditor of State’s office in accordance with GAAP (Generally Accepted Accounting Principles);
The audit report does not contain any findings for recovery, material citations, material weaknesses, significant deficiencies, Single Audit findings or questioned costs;
The entity’s management letter contains no comments related to:
