Area Resources for Community and Human Services (ARCHS) has announced that for the past 12 fiscal years (2002-2013), its financial statements have earned unqualified or “clean,” audits from independent auditors. LRM is a subsidiaryof ARCHS.

ARCHS’ FY2013 (July 1, 2012-June 30, 2013) audit was reviewed and approved by ARCHS’ Board of Directors at their December 12, 2013 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 audit opinions go well beyond an approval of our accounting controls and principles. These audits assure our federal, state, private, and philanthropic funders that ARCHS is responsibly and properly managing, spending, and reporting the funds entrusted to us to serve the region’s most vulnerable residents,” says Wendell E. Kimbrough, ARCHS’ Chief Executive Officer.

Over the past four years, ARCHS has also successfully completed federal A-133 audits for its work with federal grants. 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.
Another example of ARCHS’ strong focus on its fiduciary responsibilities is the efforts being made by its subsidiary, Leveraged Resources Management, Inc.

For the past two years, LRM has undergone an intensive review that verifies its conformity with an important standard known as the Statement on Standards for Attestation Engagements (SSAE) No. 16.
Completing a sought after SSAE No. 16 review provides reasonable assurance that the financial data and information provided by LRM’s clients will be processed and reported in an accurate and secure manner.

By completing this industry standard audit, LRM’s clients are assured that LRM adheres to key industry best practices for policies, procedures, and operations, including the security of information and data. It is important for financial services providers to comply with SSAE standards due to the sensitive nature of the data that is being managed.

As in 2012, LRM’s 2013 SSAE No. 16 report was compiled by the accounting firm of Anders, CPAs + Advisors. The examination means that an independent service auditor has formally evaluated and issued an opinion on the description of selected LRM systems and the suitability of the design and operating effectiveness of applicable controls.

For FY2013 (July 1, 2012-June 30, 2013), ARCHS had a $17.6 million impact on the region. Within that number, $6.3 million were grants and other revenues, and $11.3 million were funds/resources secured by ARCHS' education and social service program partners.