North Kentucky News

An independent team of auditors has lauded the City of Covington for its exemplary accounting practices and financial record-keeping, marking the first 'clean' audit since 1996. The auditors praised the city's efforts in rectifying longstanding issues that had previously marred audits.

"We issued an unmodified, clean opinion for both the financial statements and the major federal programs," stated Morgan Ryle, Assurance Manager at Barnes Dennig certified public accountants. "That’s the best you can get, so great work to the team for that.”

Mayor Joe Meyer commended Steve Webb and his Finance Department for their remarkable performance. “This is actually a very significant audit presentation in Covington’s recent history,” Mayor Meyer said. “No weaknesses, no deficiencies. In other words, for the first time in more than 20 years, our books were in professionally acceptable condition."

Webb noted that achieving a clean audit was a goal he had set upon joining the City in late August 2022. Last year's audit had revealed four significant deficiencies which have since been addressed by implementing further separation of duties among staff members, strengthening ARPA reporting processes, rectifying weaknesses in credit card purchases handling, and enhancing transaction handling.

The details of this audit are included in Covington’s Annual Comprehensive Financial Report for the Fiscal Year ending June 30, 2023.