Annual Audit Gives Highest Possible Rating

Clean Audit Given Akron Public Schools
Posted on 04/21/2020
Image of AuditEach year, the state auditor performs a financial audit of Akron Public Schools in order to evaluate the district’s financial processes. The audit ensures that the district complies with the requirements set forth by the Ohio Auditor of State’s office. The annual review allows the district to know that its financial information is accurate and to focus on any areas that may need improvement. For this audit, just released, Akron Public Schools was given the highest possible audit rating.

Akron Public Schools CFO Ryan Pendleton delivered credit to the employees of the district's finance department that, he said, "work diligently to process a vast amount of information accurately and in a timely manner."

For 2019, the total budget for Akron Public Schools was $581,695,764.99. "That means," Pendleton said, "our team processed this with more than 100,000 line items in the budget. The payroll team processed 4,740 W2s for a total gross salary of $198,916,907.56, and the accounts payables team processed a total of 32,798 invoices for a total of $162,189,368 paid to vendors. All accurately."

Superintendent David W. James, Ed.D. said, "The number of transactions processed annually is tremendous, but our treasury team works to ensure the funds are spent appropriately. I give a great deal of credit to Mr. Pendleton for his stewardship over this complex operation.

Akron Public Schools received an unmodified opinion from the Ohio Auditor of State, the highest possible audit rating. According to the auditor, this means the audit was free of major accounting or procedural errors and demonstrates to taxpayers the district’s attention to the funds allocated for students.
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