1 / 11

Lafayette Township Performance Audit NSAA Annual Conference June 15, 2007

Lafayette Township Performance Audit NSAA Annual Conference June 15, 2007. The Ohio Auditor of State’s Office. Mary Taylor, the 31 st Auditor of State of Ohio, is the chief accounting officer for the State of Ohio and all public entities within the state.

teigra
Download Presentation

Lafayette Township Performance Audit NSAA Annual Conference June 15, 2007

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Lafayette Township Performance Audit NSAA Annual Conference June 15, 2007

  2. The Ohio Auditor of State’s Office • Mary Taylor, the 31st Auditor of State of Ohio, is the chief accounting officer for the State of Ohio and all public entities within the state. • With nearly 1,000 employees – more than 700 of whom are auditors – the AOS is one of the largest accounting offices in the nation. • Performance Audit Section is currently staffed with 52 employees with diverse backgrounds

  3. Performance Audit Process • Audit was conducted in accordance with GAGAS • Goal is to assess operations and develop recommendations for improvements • Used peer townships and relevant industry standards/information for comparisons

  4. Lafayette Township • Located in Northeast Ohio (Medina County) • Approximately 5,500 residents • 23 square miles in size • 95% of taxes derived from residential property tax

  5. Lafayette Township • Operations managed by elected Board of Trustees (3 members) • Finances managed by an elected part-time Clerk • Township provides police, fire, zoning and road maintenance services • Approximately 8 full-time employees

  6. Audit Scope Trustees requested audit due to concerns with: • Financial management • Economic development • Human resources management • Police Department operations • Long-term financial stability Importance of Audit Planning • Adjusted the audit scope to best fit the needs of the Township.

  7. Audit Conclusions Financial Management • Ineffective internal controls • Limited management reporting • Lacked a formal budget process • Inefficient purchasing practices • Limited economic development activities

  8. Audit Conclusions Human Resources • Inefficient employee benefit management practices • Lacked objective measures for determining staffing & salary levels

  9. Audit Conclusions Police Operations • Inefficient vehicle management practices • Lacked grants management procedures • Limited capital planning

  10. Audit Conclusions Long-Term Financial Stability • General fund projected to achieve positive fund balances the next five years • Police fund projected to experience annual deficits without significant changes

  11. Audit Results • Audit identifies 36 recommendations that yield annual savings of $118,300 (nearly 20% of general and police fund budgets) • Although not quantifiable, many recommendations will improve management of existing revenues & expenditures

More Related