State: Martinsville financial records ‘poorly kept, ‘unauditable’

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COLUMBUS – Incomplete financial records prompted Auditor of State Dave Yost to place the Village of Martinsville in Clinton County on the “unauditable” list.

“Poorly kept records create a lack of accountability,” Yost stated in a press release early Monday afternoon. “The Village of Martinsville must bring its records back to an auditable condition to complete the audit.”

During the course of the regular financial audit of the Village of Martinsville for Jan. 1, 2015 through Dec. 31, 2016, the Auditor of State’s office determined that the condition of the village’s financial records was not adequate to complete the audit. In a letter to the village, the Auditor’s office provided a list of information required to complete the audit.

Within 90 days of the date of the letter, the village must revise its financial records and provide the necessary data. Failure to bring accounts, records, and reports to an auditable condition may result in legal action, including the possibility of the attorney general issuing a subpoena to village officials to explain the condition of records.

The attorney general may also file suit to compel the officials to prepare and/or produce the required information.

The Auditor’s Local Government Services Section (LGS) is available to village officials to assist in bringing records to an auditable condition. LGS provides a wide variety of services to local governments, including reconstructing financial records and aid in the reconciliation of books.

An entity is removed from the “unauditable” list once the audit is completed and released to the public.

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