Hubbard is one of three cities to qualify for a state auditor’s award
Hubbard is one of three cities that qualified for the Auditor of State Award with Distinction for returning a clean audit report.
Two cities, Sandusky and Stow and two counties, Greene and Stark, also qualified.
To meet the award standard, an entity must meet requirements including filing their fiscal reports in a timely manner and not finding significant deficiencies.
An independent auditor’s report on Hubbard’s finances in fiscal year 2017 shows that Hubbard is in good fiscal health.
The report, prepared by the Columbus-based auditor group Julian & Grube, Inc., was accepted by state Auditor Dave Yost’s office in lieu of the auditor’s state-mandated annual report.
In fiscal year 2017, Hubbard had $2,799,666 in its general fund. The general fund had a net increase of $98,991 or 7.97 percent in fiscal 2017. The street construction and maintenance fund had a net increase of $48,230 or 12.89 percent, the report said.
The revenues and expenses for governmental operations both increased but revenue still exceeded expenses, the report said.
“We are running very smoothly, and we hope it continues,” said city Auditor Michael Villano.