Fiscal Services
Popular Annual Financial Report
Mission Statement
To provide an efficient cost-effective financial management system that facilitates sound financial planning and reporting while safeguarding the County’s assets from loss; and to provide support services to other County departments.
Disclaimer for Electronic Financial Statements
The financial statements presented here are for convenience and information
purposes only, and while reasonable efforts have been made to ensure the
integrity of such information, they should not be relied on. A copy of
the printed financial statements provided on request.
Fiscal Services is responsible for all accounting,
budgeting, and payroll activities. The department
processes payroll for County employees, all
accounts payable, and some invoicing for accounts
receivable for County departments. Fiscal Services
is also responsible for preparing an annual financial
overview of the County, and for securing an annual
financial audit. The department’s budget division
manages the development and maintenance of the
County’s annual budget and Capital Improvement
Program. Fiscal Services also provides oversight to the
Central Services, Fleet Services, Risk Management,
and Purchasing offices.
In 2007, the Department received its 16th award in the
last 17 years from GFOA for Excellence in Reporting
for the County’s Comprehensive Annual Financial
Report for the year ending December 31, 2006.
The County also continued to receive the highest
possible bond ratings in 2007. The County’s bonds
are rated by financial service agencies to provide
a current grade of its creditworthiness, that is, its
expected ability to pay off the principal and interest
on the specific bonds issued. The major ratings
agencies, including Moody’s, and Standard &
Poor’s (S & P), base their ratings on a government’s
management, tax base, debt levels and structures,
and other financial factors. A high bond rating,
reflecting a low risk to investors, allows the County
to issue bonds at a lower interest rate, therefore, at a
lower long-term cost to the County.
In 2007, the County received, for the sixth consecutive
year, top bond ratings for its long-term debt of Aaa
from Moody’s, and AAA from S & P. Moody’s
and S & P have also given the County’s short-term
delinquent tax anticipation note (DTAN) bond issues
their top short-term bond ratings of MIG-1 and SP-1+,
respectively. The Fiscal Services Department will
work to maintain those ratings for the County in
2008.
Goals
- To coordinate the County’s annual audit processes and ensure that a comprehensive annual financial report (CAFR) is available for distribution within the State mandated time frame
- To provide accurate and timely vendor and reimbursement payments
- To prepare and maintain an operating and capital improvement budget that is responsive to the needs of the County
- To meet all payroll and related reporting deadlines accurately and timely
2008 Adopted Uses: $2,415,666
2008 Adopted Revenues: $1,093,747
Selected Performance Measures
Performance Measure |
2005 | 2006 | 2007 | 2008 Goal |
|---|---|---|---|---|
| Number of accounts payable (AP) invoices processed | 57,339 |
57,137 |
61,000 |
70,000 |
| Number of mileage/travel reimbursements processed | 4,373 |
4,497 |
4,384 |
4,400 |
| Number of non-payroll checks issued | 35,295 |
34,735 |
34,661 |
33,000 |
| CAFR distributed within 180 days of end of County’s fiscal year | yes |
yes |
yes |
yes |
| Budget amendments processed/ percent approved amendments processed within 2 business days | 844/99.05% |
682/99.3% |
661/99.1% |
680/99.0% |
| Budgets coordinated and maintained: General Fund/ Non-General Fund | 65/233 |
86/166 |
92/134 |
92/134 |
| Number of payroll checks generated/ percent issued without error | 53,463/ 99.9% |
53,317/ 99.9% |
52,890/ 99.9% |
55,500/ 99.9% |
| Employees using direct deposit/ percent of total using direct deposit | 1,678/ 79% |
1,688/85% |
1,707/86% |
1,800/85% |
Department History of Uses
| Uses | 2005 Actual |
2006 Actual |
2007 Adopted |
2008 Requested |
2008 Adopted |
Adopted % Change |
|---|---|---|---|---|---|---|
| Personnel | $ 1,812,449 | $ 1,904,533 | $ 2,054,651 | $ 2,099,180 | $ 2,099,180 | 2.17% |
| Commodities | 72,782 | 63,004 | 91,600 | 91,600 | 9 1,600 | 0.00% |
| Contractual Services | 182,152 | 193,926 | 201,802 | 218,102 | 218,102 | 8.07% |
| Capital Outlay | 12,139 | 19,000 | 5,740 | 6,784 | 6,784 | 18.19% |
| Other Charges | - |
- |
- |
- |
- |
NA |
| Total Uses | $ 2,079,522 | $ 2,180,463 | $ 2,353,800 | $ 2,415,666 | $ 2,415,666 | 2.63% |
| Personnel FTE | 26 |
26 |
26 |
26 |
26 |
Significant Budget Issues
There are no significant budget issues to report.
History of Uses (in millions)
