Independent auditors have given ARCHS an unqualified or “clean” audit for the 13th consecutive (2002-2014) fiscal year.
ARCHS’ FY2014 (July 1, 2013-June 30, 2014) financial audit was reviewed and approved by ARCHS’ Board of Directors at the December 11, 2014 meeting.
Issuance of an “unqualified opinion” means an auditor, upon review of an organization’s financial statements and accompanying notes, concluded that the financial statements and accompanying notes are presented fairly, conform to generally accepted accounting principles, and fairly represent the true financial picture of the organization.
"These audits provide transparency and assurance to ARCHS' funders that the organization is responsibly and properly managing the resources assigned to us,” said ARCHS’ Chief Executive Officer Wendell E. Kimbrough. “Our accounting controls ensure we are able to design, manage, and evaluate more than 15 education and social service programs that positively impact the lives of more than 90,000 of St. Louis' most vulnerable residents.
For the fifth consecutive year, ARCHS has also successfully completed a federal A-133 audit for its work with federal funding. An A-133 audit is required for any organization that expends more than $500,000 or more in a year in funding from the federal government.
During FY2014, ARCHS had a $15.5 million impact on the region. Within that number, $5.9 million were grants and other revenues, and $9.6 million were funds/resources secured by ARCHS' education and social service program partners.