City accomplishes goal of zero external audit findings for 5th year
Published on May 11, 2023
SAN ANTONIO (May 11, 2023) –The City of San Antonio has received zero findings on its annual external audit for the fifth year in a row, City Manager Erik Walsh announced at today’s City Council Meeting. Zero findings means that the City’s financial records are free from material misstatement and provide a true and fair view of the financial statements of the City. The City has invested in specific improvements over the years with the goal of excellence in our financial reporting. These include continuous staff training, ability to retain top financial talent, creation of shared service programs, sound systems, and processes, and enhanced financial reviews. Due to these investments, the City has consistently been able to produce high quality results in financial reporting and accounting.
“Five consecutive audits with zero findings are confirmation of the City of San Antonio’s stellar financial reporting performance. This year’s audit results show the city’s financial team continues to produce high-quality work and keep their eye on the ball.” said Mayor Ron Nirenberg
The City’s charter, in addition to state statute, requires an external audit be performed each fiscal year by an independent certified public accountant. FORVIS was engaged to conduct the independent Audit of the City’s financial records and accounts for Fiscal Year 2022. On Tuesday, May 9th, FORVIS briefed the City’s Audit and Accountability Committee, Chaired by Councilman John Courage and reported that they issued an unmodified opinion for Fiscal Year 2022 and did not identify any financial findings.
“As Chair of the Council’s Audit and Accountability Committee, I commend the City of San Antonio’s Budget and Finance department for their work to ensure the integrity of our financial systems. Five consecutive years with no internal control blemishes is a testament to our core values in action…” said District 9 Councilman John Courage. As stewards of public funds, the City of San Antonio holds itself to a higher standard. The external audit verifies what many of us know to be true, that we have some of the most dedicated, principled, and ethical public servants in the world.”
The City’s financial records and accounts are reported in the City’s Annual Comprehensive Financial Report (ACFR). The ACFR is an important tool in providing an accurate and transparent look into the financial health of the City. Rating Agencies, Investors and Grantor Agencies rely heavily on the report and the opinion of the External Auditors.
“This accomplishment speaks to the quality of financial standards of all our departments. I am thankful and proud of the outstanding work of our City employees, including Troy Elliott and the Finance Department team. Given the size and complexity of our city, this is a major accomplishment and I look forward to zero findings next year,” said City Manager Erik Walsh.
The Annual Comprehensive Financial Report & more information can be found on the City’s Transparency Website.