Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the External Audit topic
No spam. Unsubscribe anytime.
Fort Worth audit: external auditors report clean opinions and no major findings
Summary
External auditors from Forvis Mazars told the Audit & Finance Committee the city’s annual comprehensive financial report received unmodified (clean) opinions and that federal and state single-audit reports had no reportable findings; auditors noted only an immaterial prior-period disclosure adjustment.
Dan Baron of Forvis Mazars told the Audit & Finance Committee that the firm issued unmodified (clean) opinions on the city’s annual comprehensive financial report and the related federal and state single-audit reports, and that auditors identified no reportable findings or required audit adjustments.
Baron thanked city staff by name for timely cooperation and said auditors rely on component auditors for certain programs. He said the major federal programs audited this year included the highway planning and construction program, the Coronavirus State and Local Fiscal Recovery Funds program, and the Low-Income Home Energy Assistance Program; he reported no findings for those programs.
Baron also summarized accounting developments: the city adopted a new GASB pronouncement affecting compensated absences and made disclosure adjustments that the auditors judged immaterial. He said auditors found no management bias in estimates for pension liabilities, other post-employment benefits, self-insured liabilities, and compensated absences.
"We issued clean or unmodified opinions on those," Baron said, adding that there were "no proposed audit adjustments" and only a small immaterial past adjustment related to prior-year disclosures.
The committee received the report with thanks to Reggie, Kate and other city staff for their support; no formal action beyond receipt was recorded. The meeting moved on to internal audit and other agenda items.
