Press Release from Ed Hatchett, Release Date: March 16, 2001 Audit online at: http://www.auditor.ky.gov/Public/Audit_Reports/Archive/2000OhioValleyEdCoopaudit.pdf |
Commonwealth of Kentucky |
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(Frankfort - March 16, 2001)
The Ohio Valley Educational Cooperative (OVEC) received a clean auditor's opinion for the fiscal year ending June 30, 2000.
Co-op owns over $ 1 million in fixed assets OVEC has 13 member school districts and an annual budget of $15.8 million. The CPA firm of Crowe, Chizek & Company, LLP, performed the audit for the State Auditor's office. OVEC owns land, building, and equipment with a value of approximately $1 million. It is one of only three co-ops owning real estate. OVEC 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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