Alerts
By: Sutton StokesFebruary 19, 2021

Elkins Receives Clean Bill of Financial Health on 2020 Audit

City Has Received “Unmodified” Audit Opinions Every Year Since 2012

Elkins W. Va., February 19, 2021: At last night’s council meeting, Elkins Treasurer Tracy Judy reported that the city received a clean bill of financial health on its annual audit. State law requires West Virginia cities to undergo yearly audits. This audit, which examined financial records from the fiscal year that ended June 30, 2020, was performed by accountants working for BHM CPA Group, an Ohio-based public accounting firm with offices in Huntington, West Virginia.

The purpose of a municipal audit is to verify the city’s financial position as described on its annual financial statements. Auditors determine the accuracy of these statements by reviewing the city’s accounting procedures and examining financial records related to revenues and expenditures, grant administration, bank accounts, and more. Auditors also evaluate the city’s fraud-prevention safeguards and compliance with state law and government accounting standards.

Judy reported that auditors gave the city high marks.

“We received our ninth unmodified opinion in a row,” she said. “That means the auditors didn’t find any discrepancies or areas of concern.”

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 Judy mentioned, Elkins has received unmodified opinions in each of its annual audits since the fiscal year ending in 2012.

The audit process begins each summer with a letter from the state auditor authorizing the procurement of an audit and providing a list of approved accounting firms. The city’s Audit Committee then solicits and evaluates proposals from at least three firms on this list. The evaluation process uses a score sheet published by the state auditor to assign points to the firms that submit proposals. Per the state auditor, the firm with the highest score must then be selected to perform the city’s audit.

Next, the selected firm receives the city’s financial statements, which are published each fall. The firm examines these statements carefully and uses them to devise an audit plan, including questions to be answered and tests to be performed.

Some of these questions are answered through correspondence and phone calls. Then, usually in January, the firm sends a team of accountants to visit city hall. Over the course of about a week, these accountants request records and interview staff members. One of this team’s tasks is the random sampling of transactions from the year under review, to ensure that the proper authorization, execution, and accounting records can be produced on demand.

Several weeks after this on-site visit concludes, the firm transmits the results of the audit to council.

“Receiving an unmodified opinion confirms that our daily procedures are correct, which is important for both councilors and the public to know,” says Judy. “I’m proud of the hard, careful work my team puts into safeguarding public funds.”

##

(Photo credit: www.401kcalculator.org)

Treasurer's Office, Utility Billing

Utilities Shutoff Date: November 9

The next shutoff date for overdue utility accounts is Tuesday, November 9.   To avoid shutoff, please bring your account up to date before Tuesday. You may pay your bill online, via U.S. mail, by dropping payment in the secure payment box […]

Read More
Treasurer's Office

In memoriam: Doris Williams, long-serving city revenue clerk

The City of Elkins is mourning the passing of Doris Williams, a long-serving city employee who died this week. Ms. Williams was a revenue clerk in the City Treasurer’s Department for more than 20 years. She was hired in 1993 and retired […]

Read More
Announcements, Sewer Department, Treasurer's Office, Utility Billing, Water Department

Elkins Resuming Utilities Shutoffs August 5

Shutoffs Had Been Suspended Since March Elkins, W. Va., July 29, 2020: City of Elkins water and sewer utilities will recommence shutting off service for unpaid bills starting Wednesday, August 5, officials announced today. The city suspended shutoffs in March on the […]

Read More
Business Licensing, Treasurer's Office

Business License Renewals Due June 30

Business license renewals are due to the Treasurer’s Department by June 30. If you have not yet received a license renewal form in the mail, or if you are applying for your first license, you must first submit a copy of your […]

Read More
Subscribe To Our Newsletter

Subscribe To Our Newsletter

Stay up to date with the latest news and alerts by signing up for our newsletter!

You have Successfully Subscribed!