Elkins Receives Clean Audit for Fiscal Year 2023

Elkins W. Va., March 8, 2024: City of Elkins received high marks on its latest annual audit, Elkins City Treasurer Tracy Judy reported to council last night. West Virginia cities must undergo yearly audits, per state law. This audit, which examined financial records from the fiscal year that ended June 30, 2023, was performed by accountants working for BHM CPA Group, an Ohio-based public accounting firm with offices in Huntington, West Virginia.

“I’m pleased to say that we have had another unmodified audit, which is good news for potential for loans, grants, etc.,” stated Judy.

The purpose of municipal audits is to verify the city’s financial position, as described on its annual financial statements, and to evaluate its compliance with state law and government accounting standards. To accomplish this, auditors review the city’s accounting procedures and examine financial records related to revenues and expenditures, grant administration, bank accounts, and more. Auditors also evaluate the city’s internal controls, or fraud-prevention safeguards.

“I wanted to underline that audits seem murky and mysterious to people,” City Clerk Sutton Stokes added at the council meeting. “It really matters that the city has now had an unbroken streak of unmodified opinions, meaning the good opinion, since 2013.”

Sometimes also referred to as an “unqualified” or “clean” opinion, an unmodified opinion is the best result an audit can return because it indicates that auditors have found no misrepresentations of fact or failures to follow appropriate accounting standards. As Stokes mentioned, Elkins has received unmodified opinions in each of its annual audits since the fiscal year ending in 2013.

“If you look at the letter in your packet, that wasn’t the case before that year. There were some other findings in previous years,” said Stokes, “so this is starting to just seem normal and expected, but it should not be taken for granted. It takes careful attention to detail every day, especially in Tracy’s department, and in other departments as well.”

For more about city audits, see: www.cityofelkinswv.com/departments/finance/audits/