News Flash

City News

Posted on: March 21, 2023

Annual Comprehensive Financial Report

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The City of North Richland Hills Annual Comprehensive Financial Report (ACFR) and Single Audit for Fiscal Year 2022 were presented to the City Council for acceptance during their March 20 meeting. After roughly 700 hours of review, the independent audit firm of Whitley Penn LLP gave the City’s financial statements and internal controls an unmodified or “clean” opinion. An unmodified opinion provides the highest level of assurance that can be given on a set of financial statements. Both documents are now available online at www.nrhtx.com/acfr.

The ACFR provides an overview and analysis of the City’s financial statements for the previous fiscal year and demonstrates the City’s commitment to stewardship and accountability with public funds. The City’s ACFR provides a comprehensive look at the City’s financial condition, funds, compliance, and statistical information.

On March 22, 2023, the Government Finance Officers Association of the United States and Canada (GFOA) awarded a Certificate of Achievement for Excellence in Financial Reporting to the City of North Richland Hills for its Annual Comprehensive Financial Report for the Fiscal Year ended September 30, 2021. This was the 38th consecutive year that the city achieved this prestigious award. In order to be awarded a Certificate of Achievement, a government must publish an easily readable and efficiently organized annual comprehensive financial report. This report must satisfy both generally accepted accounting principles and applicable legal requirements.

A Certificate of Achievement is valid for a period of one year only. The city believes that its current Annual Comprehensive Financial Report continues to meet the Certificate of Achievement Program’s requirements and will submit it to GFOA to determine its eligibility for another certificate.

The Single Audit is required when the city receives $750,000 or more in federal assistance (grants) or $300,000 or more in state assistance. For FY 2022, the city exceeded both categories. The purpose of the Single Audit is to report on internal controls over compliance with regulations and standards as well as to report on the schedule of expenditures of federal and state awards.

These documents exhibit the City’s ongoing strong financial position and compliance with municipal, state, and national standards.

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