Independent auditor issues unmodified opinion on Richardson's 2023'24 financial report

The City of Richardson received an unmodified opinion on its 2023'24 Annual Comprehensive Financial Report (ACFR), Crowe audit partner Kevin Smith told the City Council during a briefing.

"We have been issued an unmodified opinion upon both of those," Smith said, referring to the city's financial statements and the federal awards audit. He told council auditors found no material weaknesses, significant deficiencies or other deficiencies warranting written comment on internal control.

Smith said the audit included the city's federal grant expenditures and covered a recent payroll conversion project. He described the report as the "best audit that the city of Richardson has had in several years," and credited internal control systems, policies and timely staff responses for enabling a smooth process.

Council members and Audit Committee liaison Joe Corcoran thanked finance staff and the controller's office for remedying prior findings and for delivering the report on schedule in February. Corcoran said earlier audit committee follow-up and extra committee attention helped move corrective actions forward.

City staff framed the briefing as a required step under the city charter, which demands an annual independent audit. No formal council action was required at the briefing; Smith asked and answered several questions from council before the meeting moved on to other agenda items.