Press Release from Ed Hatchett, Release Date: February 22, 2001 Audit online at: http://www.auditor.ky.gov/Public/Audit_Reports/Archive/2000NKECaudit.pdf |
Commonwealth of Kentucky |
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(Frankfort - February 22, 2001)
The Northern Kentucky Cooperative for Educational Services, Inc. (NKCES) received an unqualified auditor’s opinion for the year ending June 30, 2000, although the co-op was cited for failing to properly account for its fixed assets and for not adequately collateralizing its public deposits.
State Auditor Ed Hatchett said his office compiled the co-op’s financial statement so that the audit could be performed. NKCES has 16 member school districts and an annual budget of $2.8 million. The audit was performed by the CPA firm of Charles T. Mitchell Company, LLP, for the State Auditor’s office. NKCES is one of nine Kentucky school co-ops required to be audited under a bill passed during the 2000 General Assembly. The bill makes the State Auditor responsible for the audits and permits private CPAs to perform the fieldwork. |
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