Findings of a recent audit conducted by Crowe LLP were presented to the City Council this week, with both auditors and Council members giving high praise for the results. The City’s financial statements (known as the Annual Comprehensive Financial Report) were presented at Monday’s City Council meeting, noting that the report was “a testament to both the people and the systems of internal controls, policies and procedures that have been put in place historically.”
Issuing a “clean” unmodified opinion, the auditors found no instances of non-compliance with laws and regulations and no material weaknesses or significant deficiencies with the internal control structure related to financial statements and grant compliance. In addition, the information was consistent with all applicable accounting standards and requirements.
This annual audit process ensures that the financial statements of the City may be relied upon by the City Council, residents of Richardson, grantors and third-party investors.
In addition to the clean audit, the City has been recognized with the Certificate of Excellence in Financial Reporting by the Government Finance Officers Association. The City has received the award for more than 45 years.
The ACFR is available to view online at www.cor.net/ACFR. A printed copy for viewing is available at the Library and City Secretary’s office.
