By Wayne Allen
April 26, 2014
By Wayne Allen
Officials with Auditor State David Yost’s office confirmed earlier this week that work has begun on the termination analysis. The analysis is one of the remaining steps for Scioto County to be released from fiscal emergency status.
In February, the Scioto County Financial Planning and Supervision Commission formally requested the county be taken out of fiscal emergency. At the same meeting commission members accepted an engagement letter from the auditor of state’s office. Detailed in the engagement letter is what it would take for the state auditor to complete the termination analysis, that will come at a price tag of $24,000.
Sharon Hanrahan, commission chairwoman, said the commission approved previous engagement letters.
“The services (of a termination analysis) include a team from the auditor of states office coming in and determining if the county is in the process of good faith implementation of addressing those comments on the report of accounting methods (released in 2013). They will look to make sure the county has corrected, eliminated of have not engaged in any new conditions of fiscal emergency,” Hanrahan said.
She said the team from the auditor’s office will also check to make sure the county has met the objectives of the financial plan and that a five-year financial forecast has been prepared.
The forecast has been approved by the commission earlier in the year.
“Basically this is what they will do to formally say ‘you’re done, you’ve met the requirements of the (Ohio) revised code,” Hanrahan said. “The cost of this engagement is not anticipated to exceed $24,000 that will be payed for by an appropriation made by the Ohio General Assembly. This (termination analysis) comes at no cost to the county.”
She said the estimated time for the termination analysis is based on the anticipated cooperation from the county and the assumption the county will provide suitable support for the functions. When asked about an estimate on when the analysis would be completed Hanrahan said, “June or July.”
No further details were given about the progress or statue of the analysis.
Wayne Allen can be reached at 740-353-3101, ext. 228 or on Twitter @WayneallenPDT.