Ravenna gets award for audit

By Diane Smith | Staff Writer Published:

The city of Ravenna may still be struggling to pull itself out of red ink, but its "clean" audit earned the city a state award.

Ravenna was one of nine public entities in Ohio to receive the Auditor of State award this week from Auditor David Yost.

Ravenna Finance Director Kim Cecora said he prefers to refer to the award as a "clean audit" award.

He noted that the award has nothing to do with the city's financial picture, and just means it was done in accordance with generally accepted accounting principals. The audit found there were no findings for recovery, material citations or weaknesses, significant deficiencies, or questioned cost. The award also means there were no ethical issues.

The city has received the award in the past, he said.The 69-page audit, released earlier this week, includes a lengthy report from Cecora outlining Ravenna's financial picture.

Cecora said he wanted to illustrate the "uphill battle" the city has faced since 2008. Between 2007 and 2013, the city has lost more than $4 million in revenue.

More than half of that -- $2.3 million -- represents lower investment income.

The city also has lost more than $1 million each in income tax and local government funds from the state.

"I don't know how much more they can take from us," he said. "We're pretty much on our own now."

Ravenna ended 2012 with a small general-fund surplus and, though finances are expected to be tight, he said this is the year that significant changes to the city's health insurance are expected to benefit the city's bottom line.

"So far, it's doing what we predicted it would do," he said.

Contact this reporter at 330-298-1139 or

dsmith@recordpub.com

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