Columbus –The Village of Antioch (Monroe County) saved 77 percent of its traditional audit costs in its first “basic audit,” a new procedure introduced last year by Auditor of State Dave Yost.

“Small governments with limited financial activity can sometimes benefit from streamlined audits,” Yost said. “Basic audits provide savings while still holding local governments accountable for taxpayer dollars.”

The village qualified for the basic audit based on having average annual disbursements of $100,000 or less and having no disqualifying audit concerns as defined by Auditor of State bulletins. The 2011-2012 audit released today cost only $557, compared to the prior audit cost of $2,476—a savings of 77 percent.

The option for a basic audit, an on-site limited review, was introduced by Auditor Yost in September 2012. The following public offices could be eligible: villages, townships, libraries, parks and recreation districts, water and sewer districts, county boards of health, conservancy districts, solid waste districts, regional planning commissions, fire and ambulance districts, cemeteries, agricultural societies and Family & Children First councils, and others case by case.

A full copy of this audit may be accessed online.