Issuance of "unmodified" 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.
"Annual audits assure ARCHS' funders and program partners that our organization is responsibly and properly managing the resources entrusted to us," said ARCHS' Chief Executive Officer Wendell E. Kimbrough. "Our solid accounting controls ensure we are able to fund and enhance the delivery of more than 30 education and social service programs that annually improve the lives of more than 100,000 St. Louisans."
For the seventh consecutive year, ARCHS has also successfully completed a federal 2 CFR 200 audit (formerly called an A-133 audit) for its work with federal funding. A 2 CFR 200 audit is required for any organization that expends more than $750,000 in a year in funding from the federal government.
During FY 2016, ARCHS had a $19 million impact on the region. Within that number, $8 million were grants and other revenues, and $11 million were funds/resources secured by ARCHS' education and social service program partners.
The FY 2016 audit also highlighted that ARCHS’ “administrative overhead” costs are 17 percent, substantially below the national average of 25 percent as calculated by the national United Way and other groups. This means that ARCHS is able to directly allocate at least 83 cents out of every dollar it manages to provide vital education and social service programs. The remaining 17 cents provide necessary program support services that help manage and evaluate the programs to assure their long-term success.