City Receives Positive 2022 Financial Audit Report
CORPUS CHRISTI, TX – At today's regularly scheduled City Council meeting, Mayor Paulette Guajardo and Council received an update from Chief Financial Officer, Constance Sanchez about the City receiving a clean audit opinion on finances for the Fiscal Year 2022 Annual Comprehensive Financial Report.
The Corpus Christi City Council Audit Committee received the audit report from Weaver and Tidwell, L.L.P., the City’s external auditor at its meeting earlier today. The external auditors issued an unmodified opinion on the City’s financial reporting, the highest audit opinion that can be issued.
The financial position for the Fiscal Year 2022 Annual Comprehensive Financial Report ended on September 30, 2022, and remained strong. Governmental activities including the General Fund, Debt Service Fund and Special Revenue Funds increased their net position by $112.3 million. The business activities, including the Enterprise Funds, increased their net position by $53.6 million.
The audit process, performed in accordance with auditing standards include:
- Generally Accepted Auditing Standards
- Generally Accepted Government Auditing Standards
- Single Audit - Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards
- Texas Uniform Grant Management Standards
- Compliance - Laws, Regulations, and Grant Agreements
“The City’s Finance team has worked diligently to maintain solid internal control and monitoring procedures, staff works closely with the external auditors to ensure taxpayer dollars are properly accounted for,” Heather Hurlbert, the City’s Director of Finance and Procurement said. “We want to assure taxpayers the City’s financial policies and reporting are reviewed internally by staff and externally by the City’s independent auditor.”
The 2022 Annual Comprehensive Financial Report remains available online at www.cctexas.com/financial-transparency.
For more information, media representatives can contact Public Information Manager Robert Gonzales 361-826-3233 or by email at robertg8@cctexas.com.