Lake County, OH – Laketran was presented the “Ohio Auditor of State Award with Distinction” by David Yost, Auditor of State staff representative Michelle Stys. It is the 18th consecutive year Laketran received an unqualified opinion with no material citations, material weaknesses, significant deficiencies, Single Audit findings, or any questioned costs. This is the best opinion available for this type of audit.
To earn a “clean” audit report and receive an award, agencies must file timely financial reports in the form of a Comprehensive Annual Financial Report (CAFR) that meets strict standards of the Government Finance Officers’ Association.
Laketran chief financial officer Lisa Colling issued Laketran’s CAFR, which was completed by James G. Zupka, CPA, Inc.
“Our staff and leadership team work very closely to be prudent and thorough in our financial practices. These audit findings confirm that we are being good stewards of the public funding that comes from our local sales tax levy, the State of Ohio, federal grants and our riders,” commented Colling.
The audit covered the 2013 fiscal year, ending December 2013. The operating cost for the agency in 2013 was $12.3 million.
“I am very proud of Laketran’s management team for this great accomplishment. It supports our objective of accountability to our customers and the community. We are doing everything we can within our financial means to bring high quality public transportation services to Lake County residents,” Laketran board president, Kevin Malecek said.
News Release issued by Ohio Auditor of State, David Yost can be found here: https://ohioauditor.gov/news/pressreleases/details/2135
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