FY 2024 external audit returns clean opinion; city reports no internal control or single‑audit findings

Victoria Raider, assistant finance director, and Amanda Eaves, external audit partner from Forvis Mazars, presented the results of the City of San Antonio's FY 2024 external financial audit to the Audit Committee on May 13.

Eaves said the audit produced an "unmodified or clean opinion" on the city's financial statements and that there were no scope limitations or unresolved audit issues. Raider told the committee the city had "no internal control findings" for the seventh consecutive year and that the audit identified no single‑audit findings for the year.

Eaves said the auditors proposed several audit adjustments during the engagement; management recorded two of the proposed adjustments so they are reflected in the issued financial statements, and one proposed audit adjustment was not recorded after management's consideration. She said none of the proposed or recorded adjustments were material.

Raider said the external audit contract was awarded in June 2022 to Forvis Mazars for a three‑year term with possible extensions and that this FY 2024 engagement was the third year of that contract; the city intends to execute two separate one‑year extensions. The audit reports, including the annual comprehensive financial report and single‑audit reports for federal and state programs, are available on the city's transparency website, staff said.

Committee members praised the finance team and auditors for the results and asked questions about the audit process; auditors noted continuing changes in accounting standards (GASB statements) that will require future work by the finance team. The item was a briefing only and no committee vote was required.