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Published on Thursday, April 11, 2019

City accomplishes goal of zero external audit findings

Accomplishment is testament to superior financial reporting

CONTACT: Ashley Alvarez, 210-207-2098
ashley.alvarez@sanantonio.gov 

 

SAN ANTONIO (April 11, 2019) – The City of San Antonio has received zero findings on its annual external audit, City Manager Erik Walsh announced today. Zero findings, with an unmodified opinion, means the City’s financial records are accurate and provide a true and fair view of the City’s financial standing.

 

“This was our ultimate goal,” City Manager Walsh said. “Over the last several years, we’ve focused on improvements to our financial reporting. Not only is this proof of the continued hard work of our Finance team, but it’s also a testament to our organizational philosophy to be good stewards of public funds—we are truly the best financially managed city in the country.”

 

The findings can be attributed to a reorganization of the Finance department, additional investment in training and enhanced financial reviews, with each year seeing a reduction in findings and the amount of time to issue those findings.

 

“This is a significant accomplishment given the size and complexity of our organization,” Chief Financial Officer Ben Gorzell said. “An audit with zero findings verifies our strong financial management and is the realization of the dedicated efforts of our Finance team.”

 

The City’s charter, in addition to state statute, requires an external audit be performed each fiscal year by an independent certified public accountant. Grant Thornton International issued the unmodified opinion for FY2018. The City’s financial reports are reviewed and evaluated by ratings agencies and play a factor in determining the City’s bond rating.

 

The Comprehensive Annual Financial Report can be found at www.sanantonio.gov/Finance/bfi/cafr.

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Author: Melanie Morales (GPA)

Categories: City News

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