MEDIA RELEASE

Loren Bymer, Director of Marketing and Communications

Release: IMMEDIATE Contact: Brian Rick, Public Information Specialist
Date: 4/02/2024 Phone: (910) 433-1710 (desk)

Fiscal Year 2023 Financial Statements

(FAYETTEVILLE, N.C.) - The State of North Carolina boasts some of the most robust financial
controls for local governments across the United States. From the adoption of annual budgets to
the filing of independently audited financial statements, these requirements are crafted to inspire
confidence and foster public trust.
While the City of Fayetteville has met all its statutory financial obligations, we find ourselves
delayed in filing our Fiscal Year 2023 annual financial statements. This delay primarily stems
from the implementation of a new enterprise software system. This implementation has
necessitated a manual and complex process to ensure the city's financial records are accurate
and comprehensive. These challenges have required more time than initially anticipated to
ensure that we meet the high standards for accuracy, transparency, and accountability that our
community rightfully expects.
"Fiscal accountability is the cornerstone of our city as shown by the 'clean' or unqualified audits
we've consistently received for the past decade," said Doug Hewett, Fayetteville City Manager.
"Now that our financial statements have been transmitted to the external auditors, P.B. Mares, I
am confident that our FY23 audit will once again show the financial strength of the City's
operations and be completed shortly."
In the face of these obstacles, we remain committed to upholding the highest standards of
financial integrity. You can find our historical audits on our City website.
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The City of Fayetteville is a dynamic, culturally rich community committed to high
performance, transparency and innovation. Directly adjacent to Fort Liberty, Fayetteville is
home to more than 208,000 residents. The mission of the City is to provide sustainable, high-
quality public services for our communities to thrive and businesses to grow. With creative
energy, vibrant history and compassionate people, Fayetteville always finds a way. That's why
we are America’s Can Do City. To learn more about the City of Fayetteville and City
departments or services, please visit fayettevillenc.gov or follow us
on Facebook, Instagram, Twitter or LinkedIn.