Audit FY2005 Summary Slides
12 pages
English

Audit FY2005 Summary Slides

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Description

Report ofIndependent Certified Public AccountantsonCounty of CumberlandFinancial StatementsFor Fiscal Year ended June 30, 2005Presented By:Michelle Loyd Thompson, Partner, Cherry, Bekaert & HollandAmy Cannon, Assistant County Manager / Finance DirectorAudit ResultsGenerally Accepted Auditing Standards -Basic Financial Statements: • Unqualified – “clean opinion”• Represents highest level of assuranceGovernment Auditing StandardsOMB Circular A-133 – State and Federal Financial Assistance:• Unqualified – “clean opinion”Other ResultsManagement Letter• New Auditing StandardStatement of Auditing Standards (SAS 61) Letter• RequiredGeneral Fund SummaryFinalBudget Actual VarianceTotal revenue $ 259,934,474 $ 269,929,533 $ 9,995,059Total expenditures 277,531,281 258,509,050 19,022,231Total other financing sources (uses) 17,596,807 (2,136,866) (19,733,673)$ - $ 9,283,617 $ 9,283,617Revenue and other financing sources over expenditures and other financing usesFund balances:Beginning of year, July 1, 2004 81,315,228End of year, June 30, 2005 $ 90,598,845Fund Balance – General FundTotalGeneral Mental Health Other General FundReserved for:Inventories $ 265,955 $ - $ - $ 265,955Register of Deeds 137,081 137,081Encumbrances 3,620,717 341,749 3,962,466State statute 2 2,065,483 2 ...

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Nombre de lectures 105
Langue English

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Report of Independent Certified Public Accountants on County of Cumberland Financial Statements For Fiscal Year ended June 30, 2005
Presented By: Michelle Loyd Thompson, Partner, Cherry, Bekaert & Holland Amy Cannon, Assistant County Manager / Finance Director
Audit Results
Generally Accepted Auditing Standards   Basic Financial Statements: Unqualified – “clean opinion” Representshighestlevel of assurance Government Auditing Standards  OMB Circular A133 – State and Federal  Financial Assistance: Unqualified – “clean opinion”
Other Results
Management Letter  New Auditing Standard Statement of Auditing Standards (SAS 61)  Letter Required
Total revenue
Total expenditures
General Fund Summary
Total other financing sources (uses)
Revenue and other financing sources over expenditures and other financing uses
Fund balances: Beginning of year, July 1, 2004
End of year, June 30, 2005
Final Budget
$ 259,934,474
 277,531,281
 17,596,807
$ 
ctual
$ 269,929,533
 258,509,050
 (2,136,866)
$ 9,283,617
 81,315,228
$ 90,598,845
ariance
$ 9,995,059
 19,022,231
 (19,733,673)
$ 9,283,617
Fund Balance –
Reserved for: Inventories Register of Deeds Encumbrances State statute Designated for: Subsequent year's expenditures Technology Renovation & maintenance Courthouse/plaza repairs Health Department renovations School buses Undesignated
 Total fund balance
Undesignated fund balance as a percentage of FY2006 adopted budget
General
$ 265,955  137,081  3,620,717  22,065,483
 14,409,035  2,861,997  2,278,495  1,705,555  2,500,000  453,000  24,029,629
$ 74,326,947
9.41%
General Fund
Mental Health
$ 
 341,749  2,163,466
 3,093,416
 10,648,444
$ 16,247,075
29.13%
Other
$ 
 (1,854,475)
 1,879,298
$ 24,823
Total General Fund
$ 265,955  137,081  3,962,466  22,374,474
 17,502,451  2,861,997  2,278,495  1,705,555  2,500,000  453,000  36,557,371
$ 90,598,845
12.52%
11.30%
10.85%
12.0%
11.0%
10.0%
4.40%
6.95%
FY99
7.0%
FY95
FY96
FY97
FY98
FY94
6.0%
5.0%
4.0% FY93
8.0%
8.26% 7.60%
9.0%
8.93%
7.13%
General Fund Undesignated Fund Balance
7.61%
8.91%
FY02
FY03
FY00
FY01
9.42%
9.57%
10.86%
FY05
FY04
Assets Current and other Capital Total assets
Liabilities Longterm outstanding Other Total liabilities
Net assets: Invested in capital, net  of related debt Restricted Unrestricted Total net assets
Statement of Net Assets
Government Activities 2005 2004
$ 160,065,301  127,856,227  287,921,528
 196,242,069  23,368,650  219,610,719
 13,374,791  35,261,376  19,674,642 $ 68,310,809
$ 151,818,976  126,534,553  278,353,529
 198,326,022  18,467,586  216,793,608
 30,253,418  26,985,138  4,321,365 $ 61,559,921
Businesstype Activities 2005 2004
$ 34,084,365  77,691,114  111,775,479
 54,187,628  2,921,125  57,108,753
 29,393,382  1,432,349  23,840,995 $ 54,666,726
$ 28,247,309  69,662,512  97,909,821
 49,120,590  7,290,228  56,410,818
 20,708,795  1,489,089  19,301,119 $ 41,499,003
2005
Total
$ 194,149,666  205,547,341 $ 399,697,007
 250,429,697  26,289,775  276,719,472
 42,768,173  36,693,725  43,515,637 $ 122,977,535
2004
$ 180,066,285  196,197,065 $ 376,263,350
 247,446,612  25,757,814  273,204,426
 50,962,213  28,474,227  23,622,484 $ 103,058,924
Land Buildings and improvements Equipment, furniture and fixtures Vehicles and motorized equipment Construction in progress Total net assets
Capital Assets (net of depreciation)
Government Activities 2005 2004
$ 18,258,631  99,742,670  3,720,611  1,582,282  4,552,033 $127,856,227
$ 18,210,621  102,505,675  3,781,750  2,031,981  4,526 $126,534,553
Businesstype Activities 2005 2004
$ 6,224,324  52,655,299  3,363,453  457,639  14,990,399 $ 77,691,114
$ 6,224,324  54,443,160  3,359,057  586,417  5,049,554 $ 69,662,512
2005
Total
$ 24,482,955  152,397,969  7,084,064  2,039,921  19,542,432 $205,547,341
2004
$ 24,434,945  156,948,835  7,140,807  2,618,398  5,054,080 $196,197,065
General obligation bonds Revenue bonds Capital leases Other debt Total debt
Outstanding Debt
Government Activities 2005 2004
$ 114,140,000  70,635,000  4,537,080  2,999,271 $ 192,311,351
$ 115,895,000  74,570,000
 3,234,457 $ 193,699,457
Businesstype Activities 2005 2004
$   51,058,781
 1,250,000 $ 52,308,781
$   53,183,781
$ 53,183,781
2005
Total
$ 114,140,000  121,693,781  4,537,080  4,249,271 $ 244,620,132
2004
$ 115,895,000  127,753,781
 3,234,457 $ 246,883,238
30 28 26 24 22 20 18 16 14 12 10 8 6 4 2 0
General Fund Debt Service Requirements
 FY 2005 Actual
County Schools
FY 2006 Adopted
Detention Center
FY 2007 Proposed
DSS Building
FY 2008 Proposed
Coliseum
Other
FY 2009 Proposed
Libraries
FTCC
Governmental activities: General government Public safety Economic and physical development Human services Cultural and recreational Education Interest on longterm debt Total governmental activities Businesstype activities Crown Center Solid Waste NORCRESS Water & Sewer Kelly Hills Water & Sewer Total businesstype activities
Total primary government
Statement of Activities
Expenses
$ 20,761,217  41,207,126  12,357,831  107,506,798  13,865,651  83,763,840  9,190,661  288,653,124
 11,172,781  5,123,756
 16,296,537
$ 304,949,661
Program Revenues
$ 6,774,029  4,676,243  10,045,999  72,164,063  1,433,682
 95,094,016
 2,002,713  3,752,650  5,279,865  1,782,725  12,817,953
$ 107,911,969
General revenues:  Property taxes  Other taxes  Other revenue Transfers  Total revenues and transfers
 Change in net assets
Net assets  beginning Net assets  ending
Total Governmental
$ (13,987,188)  (36,530,883)  (2,311,832)  (35,342,735)  (12,431,969)  (83,763,840)  (9,190,661)  (193,559,108)
$ (193,559,108)
 138,418,541  58,376,570  13,437,473  (9,922,588)  200,309,996
 6,750,888
 61,559,921 $ 68,310,809
Total BusinessType
$ 
 (9,170,068)  (1,371,106)  5,279,865  1,782,725  (3,478,584)
$ (3,478,584)
 5,321,308  1,402,411  9,922,588  16,646,307
 13,167,723
 41,499,003 $ 54,666,726
Total
$ (13,987,188)  (36,530,883)  (2,311,832)  (35,342,735)  (12,431,969)  (83,763,840)  (9,190,661)  (193,559,108)
 (9,170,068)  (1,371,106)  5,279,865  1,782,725  (3,478,584)
$ (197,037,692)
 138,418,541  63,697,878  14,839,884
 216,956,303
 19,918,611
 103,058,924 $ 122,977,535
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