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Worthington City earns Auditor of State distinction; treasurer warns medical-claims costs rising
Summary
The Worthington City School District received the Auditor of State Award with Distinction. At the same meeting, Treasurer TJ Cusick said the district's self-insurance medical claims are about 8% over budget and could affect rates later this summer.
Worthington City School District received the Auditor of State Award with Distinction during its June 10 Board of Education meeting, and Treasurer TJ Cusick warned that higher-than-expected medical claims are straining the district's self-insurance fund.
Scott Brown, regional liaison for the Ohio Auditor of State, presented the award and said the honor places the district among roughly 4% of entities audited by the office. "The audit report does not contain any findings for recovery, material citations, material weaknesses, significant deficiencies, uniform guidance findings, or other questioned costs," Brown said, summarizing the criteria for distinction.
The award recognizes districts that file timely financial reports and complete a comprehensive annual financial report without the audit findings listed above, Brown said, and he singled out Worthington's fiscal staff for their work.
Treasurer TJ Cusick told the board the monthly financial report for May was posted online and that the district is "trending in line with projections for our general fund," but he cautioned that the self-insurance fund is running over budget. "We still experience, higher than expected medical claims and our self insurance fund. We're now sitting about 8% over budget," Cusick said, and he warned the trend "likely will impact us as we move to set rates later this summer in August." Cusick also said construction change orders were minor and the district remains "comfortably at a little under $7,000,000 in contingency."
Board members congratulated the fiscal team on the audit award and voiced appreciation for in-house accounting work. The board did not take additional formal action on the matters beyond accepting the presentation and receiving the monthly financial report.
What happens next: Cusick said the insurance rate-setting work will continue through the summer and that the board may see rate recommendations in August or later this summer.
Sources: Remarks by Scott Brown, regional liaison for the Ohio Auditor of State, and Treasurer TJ Cusick at the June 10, 2024 Worthington City Board of Education meeting.
