County receives good financial news from state auditor
Commissioners receive good financial news from state auditor
[Tiffin, OH Oct. 19, 2018] – Seneca County received the highest marks possible in the Auditor of State’s 2018 Financial Health Indicators series report.
The report uses 2017 financial data and tracks three-year trends across 17 selected indicators.
Indicators include an in-depth analysis of revenues and expenditures.
The indicators are a collection of financial information, percentages and ratios gathered from annual financial statements filed by local governments with the Auditor’s office in addition to their audit reports. The indicators are useful in predicting both financial stability and stress.
For every county, each indicator receives a rating of positive, cautionary or critical.
Seneca County received a positive evaluation in all 17 categories.
In 2016, the county received two cautionary ratings after receiving a perfect score in 2015.
Seneca County Auditor Julie Adkins said the indicators show that the county is in a positive fiscal position.
“The county could not be in the position without the constant review and oversight of the auditor’s office and other elected officials,” she said. “With a watchful eye towards the bottom line, we, elected officials, work in concert for the betterment of the county and always on behalf of the Seneca County taxpayers.”
Commissioner Shayne Thomas agreed and said the report was good news.
“A sound financial report is the product of all elected officials working together for the benefit of the taxpayers,” he said.
The entire Seneca County report is available at https://ohioauditor.gov/FHI/Search/Reports/Final%20-%2013A87-FHI-2017.pdf.
According to a release from the County Commissioners Association of Ohio, the purpose of the dataset is to recognize early signs of fiscal stress.
Generally, Ohio counties are doing managing their finances well, with no counties in fiscal distress. However, the report states there are 15 counties that have experienced a progressive increase in the number of “critical” and “cautionary” indicators. The counties are Clinton, Defiance, Delaware, Hamilton, Lake, Licking, Lucas, Marion, Medina, Pike, Preble, Ross, Sandusky, Trumbull and Wyandot.
For more information, visit https://ohioauditor.gov/fhi/default.html