Yost: Lack of documentation cited in Cincinnati Charter School audit

Columbus – Expenses with no supporting documentation led to $875 in findings for recovery in the initial and final audit of the Leadership Academy of Mathematics and Science of Cincinnati (Hamilton County) released this week by Auditor of State Dave Yost.

“Every dollar spent needs a paper trail,” Auditor Yost said. “When the trail goes cold, the taxpayers are left searching for value.”

For the fiscal year ended June 30, 2012, auditors identified $875 in expenses that lacked original supporting documentation, such as an invoice. These expenses were attributed to cash withdrawals made on October 12 and December 6, 2011, for which no supporting documentation was provided by the school’s treasurer.

Without appropriate documentation, auditors could not determine if expenditures were for a proper public purpose. A finding for recovery in the amount of $875 was issued against Treasurer James A. Szabo.

In addition, auditors discovered that the school’s management company, Edison Learning, paid the Hope Foundation $10,000 on behalf of the school on August 30, 2011. The Hope Foundation was created by the school’s chairman, Andre Tucker. This matter will be referred to the Ohio Ethics Commission.