The City of Coppell is proud to announce that it once again received an unmodified opinion on its annual Independent Auditor’s Report, indicating the City’s financial statements for fiscal year 2021-2022 were fairly presented. The results of the audit were presented to the City Council at the February 28, 2023, meeting.
Weaver, a nationwide accounting and financial consulting firm, performed the audit, which began last summer and wrapped up in February 2023, and issued three different reports this year:
- An unmodified opinion was issued for the Independent Auditor’s Report on the financial statements. This is the highest level of assurance that the financial statements are fairly presented in all material respects in accordance with Generally Accepted Accounting Principles (GAAP).
- The second report issued was the Independent Auditor’s Report on Internal Control over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards. No material weaknesses or significant deficiencies were noted.
- An unmodified opinion was issued and there were no findings on the third report, the Independent Auditor’s Report on Compliance for Each Major Program and Report on Internal Control Over Compliance in Accordance with Uniform Guidance. This means the auditor feels that the City complied in all material respects in its handling of all Federal Financial Assistance Programs.
“Our staff is dedicated to making sure the annual audit process goes smoothly,” said Kim Tiehen, Director of Strategic Financial Engagement. “A ‘clean’ audit shows we’ve maintained our high standard of service and have upheld our promise to our community by handling taxpayer funds responsibly.”
According to Chapter 103 of the Texas Local Government Code, all municipal governments must conduct an independent audit on an annual basis. Weaver used a risk-based approach in which potential areas of risk that could lead to material misstatements of the financial statements are identified. The audit was tailored to specifically address areas of risk such as revenue recognition, capital projects, and expenditures of federal and state awards.
During the February 28 meeting, the City Council also accepted the Annual Comprehensive Financial Report (ACFR), which provides information about the City’s financial condition and performance along with the Independent Auditor’s Report.
To view the City’s ACFR or other financial documents, please visit coppelltx.gov/transparency.