A recent audit carried out by an independent team of auditors has provided the City of Covington with a clean bill of health for its accounting practices and financial record-keeping. This marks the first instance since 1996 that the city has received such high praise for its financial operations.
Morgan Ryle, Assurance Manager at Barnes Dennig certified public accountants, praised the city by stating, “We issued an unmodified, clean opinion for both the financial statements and the major federal programs. That’s the best you can get, so great work to the team for that.” This positive assessment highlights the significant improvements made by the city in addressing longstanding issues that have hampered previous audits.
Mayor Joe Meyer expressed his satisfaction with the Finance Department, led by Steve Webb, for their exceptional performance. He described the audit presentation as a “very significant” milestone in Covington’s history. The Mayor added, “No weaknesses, no deficiencies. In other words, for the first time in more than 20 years, our books were in professionally acceptable condition, and that is an accomplishment that the Finance Department should take great pride in.”
Steve Webb, who has been instrumental in driving these changes, emphasized that achieving a clean audit was a goal he had set upon joining the City in 2022. He highlighted the various measures taken to address previous deficiencies, including the separation of duties among staff, strengthening ARPA reporting processes, and enhancing the handling of credit card purchases. These efforts have resulted in a notable improvement in the quality of the City’s financial record-keeping.
The positive outcome of the audit reflects the dedication and hard work of Webb and his team. It is indeed a remarkable achievement, considering the challenges faced in previous years.
The audit findings are included in Covington’s Annual Comprehensive Financial Report for the Fiscal Year ending June 30, 2023. The extensive report provides an overview of the city’s financial performance and highlights the significant progress made in bolstering its financial procedures.
In conclusion, Covington’s successful audit outcome serves as a testament to the city’s commitment to upholding the highest standards of financial management. The proactive measures taken to address previous deficiencies have resulted in a remarkable achievement that sets a new benchmark for future audits. This accomplishment underscores the city’s dedication to transparent and responsible financial practices, which is essential for fostering public trust and confidence.