City Contracts Forensic Audit to Investigate Budget Shortfalls
Radford City Council contracted accounting firm Brown Edwards to conduct a forensic audit of city finances from June 2020 to June 2025, examining payroll, utilities, and tax revenue. Results expected by late August 2026.
On March 23, 2026, the Radford City Council approved a contract with accounting firm Brown, Edwards & Company, L.L.P. to conduct a forensic audit of the city's financial records spanning June 2020 through June 2025.
The audit will examine more than two dozen expenditure categories, including city payroll, electric and utility funds, and real estate tax revenue. The firm intends to finalize its work by the end of August 2026.
The audit follows the Virginia Auditor of Public Accounts designating Radford in "fiscal distress" — stemming from years of overestimated budgets, late school funding, and heavy reliance on enterprise fund transfers.
In parallel, the city has hired new financial leadership, including CFO Trish Cox and Assistant Finance Director Diane Newby. The city is also migrating financial operations to "Munis," an Enterprise Resource Planning (ERP) software system, and has reduced its outstanding balance to American Electric Power from six months to three months.