Cochise County June 30, 2004 Report Highlights-Single Audit

Office Of The Auditor General

Description

Cochise CountyREPORT County’s CondensedHIGHLIGHTSSINGLE AUDIT Financial InformationSubjectCochise County is The County’s government-wide Statement of Net Assets responsible for preparing financial statements are designed to June 30, 2004 financial statements,(In thousands) provide readers with a broadmaintaining strong internal overview of the County’s finances in acontrols, and Total demonstrating manner similar to private-sector Governmental accountability for its use of businesses. These statements report and public monies. As the Business-type the financial activities of the overallauditors, our job is to Activities government, except for fiduciarydetermine whether the Current and other assets $39,373 activities.County has met its Capital assets 56,748 responsibilities. Total assets 96,121 Current liabilities 7,677 The tables to the right present aNoncurrent liabilities 15,465 Our Conclusion summarized version of the County’s Total liabilities 23,142 government-wide Statement of NetThe information in the Net assets Assets and Statement of Activities Invested in capital assets, financial statements is fairlynet of related debt 47,104 stated in all material reported in the current year financialRestricted net assets 5,294 respects and the financial statements. Unrestricted net assets 20,581 statements can be reliedTotal net assets $72,979 upon. The CountyThe Statement of Net Assets maintained adequatepresents information on all ...

Informations

• Publié par: Adrie
• Nombre de lectures: 14
• Langue: English

Extrait

REPORT HIGHLIGHTS SINGLE AUDIT

County’s Condensed Financial Informatio

Subject Cochise County is The County’s governmentwide responsible for preparing financial statements are designed to financial statements, provide readers with a broad maintaining strong internal controls, and overview of the County’s finances in demonstrating manner similar to privatesector accountability for its use of businesses. These statements report public monies. As the the financial activities of the overall auditors, our job is to government, except for fiduciary determine whether the activities. County has met its responsibilities. The tables to the right present a Our Conclusion summarized version of the County’s governmentwide Statement of Net The information in the financial statements is fairly Assets and Statement of Activities stated in all material reported in the current year financial respects and the financial statements. statements can be relied upon. The County The Statement of Net Assets maintained adequate presents information on all county internal controls over financial reporting. Also, the assets and liabilities, with the County maintained difference between the two reported adequate internal controls as net assets. The Statement of over, and complied with, Activities presents information federal program showing how net assets changed requirements for the programs tested. However, during the most recent fiscal year. As for one federal program, shown in the tables, net assets our report recommends the increased by over $6 million. This County strengthen controls increase was primarily due to the over payroll expenditures. County’s increased investment in capital assets.

2004 Year Ended June 30, 2004

Cochise County

Statement of Net Assets June 30, 2004 (In thousands)  Total Governmental and Businesstype  Activities Current and other assets$39,373 Capital assets56,748 Total assets96,121 Current liabilities7,677 Noncurrent liabilities15,465 Total liabilities23,142 Net assets Invested in capital assets, net of related debt47,104 Restricted net assets5,294 Unrestricted net assets20,581 Total net assets$72,979

Statement of Activities Year Ended June 30, 2004 (In thousands)  Total Governmental and Businesstype  Activities Program revenues: Governmental activities$ 29,079 Businesstype activities33,238 General revenues: Governmental activities41,825 Businesstype activities511 Total revenues104,653 Expenses: Governmental activities65,500 Businesstype activities32,975 Total expenses98,475 Change in net assets6,178 Net assets—beginning, as restated66,801 Net assets—ending$ 72,979

The County Spent $10.9 Million in Federal Aw

The County spent $10.9 million of federal monies this past year for 50 programs. The Department of Justice and the Department of Housing and Urban Development were the two largest federal grantors with County program expenditures totaling $2.5 million and $2 million, respectively.

Expenditures from Department of Justice programs included approximately $1 million spent for the Public Safety Partnership and Community Policing Grants Program. This program helped the County pay for public safety communication equipment.

Expenditures from Department of Housing and Urban Development programs included approximately $1.7 million spent for the Section 8 Housing Choice Vouchers program. This program is administered by the Housing Authority of Cochise County and helps lowincome families obtain decent, safe, and sanitary rental housing.

Federal Expenditures by Awarding Agency Totaling $10.9 Million Fiscal Year 2004 (I nMillions) Health and Human Serv ices Other $1.1 Interior $2.8 $1.2

Justice $2.5

TheSingleAuditFactSheet

 No weaknesses in financial reporting internal controls.

 One weakness in federal compliance internal controls that resulted in immaterial noncompliance with federal compliance requirements.

 No program costs were questioned as a result of our audit.

Labor $1.3 Housing and Urban Dev elopment $2.0

TOOBTAIN MOREINFORMATION

A copy of the full report can be obtained by calling (602)5530333

or by visiting our Web site at: www.auditorgen.state.az.us

Contact person for this report: Rebecca Rosenberg

REPORT HIGHLIGHTS SINGLE AUDIT

Year Ended June 30, 2004

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