Independent auditors have given ARCHS an "unmodified" or "clean" audit for the 16th consecutive fiscal year. ARCHS' FY 2017 (July 1, 2016 - June 30, 2017) financial audit was reviewed and approved by ARCHS' Board of Directors at the December 6, 2017 meeting.
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.
For the eighth 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 2017, ARCHS had a $21.6 million impact on the region,” said ARCHS’ Chief Executive Officer Wendell Kimbrough. “Within that number, $9.7 million were grants and other revenues, and $11.9 million were funds/resources secured by ARCHS' education and social service program partners.”
According to ARCHS’ Chief Financial Officer Sheryl Mitchell, “The FY 2017 audit also highlighted that ARCHS’ “administrative overhead” costs are only 15.5 percent, which is below the national average of 25 percent as calculated by the national United Way and other groups. This means that 84.5 cents out of every dollar ARCHS manages goes to the delivery of education and social service programs that annually serve more than 150,000 St. Louisans. The remaining 15.5 cents provide strategic grant support services that assist in the management and evaluation of these vital programs.”
For the eighth 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 2017, ARCHS had a $21.6 million impact on the region,” said ARCHS’ Chief Executive Officer Wendell Kimbrough. “Within that number, $9.7 million were grants and other revenues, and $11.9 million were funds/resources secured by ARCHS' education and social service program partners.”
According to ARCHS’ Chief Financial Officer Sheryl Mitchell, “The FY 2017 audit also highlighted that ARCHS’ “administrative overhead” costs are only 15.5 percent, which is below the national average of 25 percent as calculated by the national United Way and other groups. This means that 84.5 cents out of every dollar ARCHS manages goes to the delivery of education and social service programs that annually serve more than 150,000 St. Louisans. The remaining 15.5 cents provide strategic grant support services that assist in the management and evaluation of these vital programs.”
