WASHINGT ON COUNT YS COMPRE HE NSIVE ANNUAL F INANCIAL RE - - PowerPoint PPT Presentation

WASHINGT ON COUNT Y’S COMPRE HE NSIVE ANNUAL F INANCIAL RE PORT F Y 2017- 18

F

• r

Washington County Boar d of Commissione r s De par tme nt of Suppor t Se r vic e s F inanc e Division F e br uar y 5, 2019

Age nda

 Pr

e se ntation by the County’s E xte r nal Auditor s, T albot, Kor vola & War wic k, L L P (T KW) by Julie B. F ahe y, Par tne r

 Disc uss Highlights fr

• m the F

isc al Ye ar (F Y) 2017- 18 Compr e he nsive Annual F inanc ial Re por t (CAF R)

 CAF

R Ac hie ve me nt and Staff Re c ognition

Wa shing to n Co unty, Ore g o n

AUDI T RE SUL T S F OR T HE YE AR E NDE D JUNE 30, 2018

F E BRUARY 5, 2019

Audit Re sults and Re po rting



Inde pe nde nt Auditor’s Re port - Unmodifie d opinion

• F

ina nc ia l sta te me nts a re pre se nte d fa irly in a c c o rda nc e with U.S. GAAP

 Re port on Complianc e and Inte rnal Control ove r

F inanc ial Re porting Base d on an Audit of F inanc ial State me nts Pe rforme d in Ac c ordanc e with Ore gon State Re gulations

• No nc o mplia nc e no te d re la te d to de fic it fund

b a la nc e s/ ne t po sitio n a nd no tic e o f me e ting s

Sing le Audit Re po rts

 Re por

t on Inte r nal Contr

• l ove r

F inanc ial Re por ting and on Complianc e and Othe r Matte r s Base d on an Audit of F inanc ial State me nts Pe r for me d in Ac c or danc e with Gove r nme nt Auditing Standar ds – Unmodifie d opinion

• One sig nific a nt de fic ie nc y o ve r fina nc ia l re po rting

ide ntifie d

 Re por

t on Complianc e for E ac h Major F e de r al Pr

• gr

am and Re por t on Inte r nal Contr

• l ove r

Complianc e Re quir e d by the Unifor m Guidanc e

• No c o ntro l finding s
• No c o mplia nc e finding s

Re q uire d Co mmunic atio ns

 Me t with the Audit Co mmitte e in Ja nua ry 2019  No diffic ultie s e nc o unte re d during the a udit  No a udito r pro po se d a djusting jo urna l e ntrie s  Unc o rre c te d missta te me nts re la te d to Co mc a st

se ttle me nt, tra nsitio n lia b ility, a nd e xpe nse c uto ff

 No disa g re e me nts with ma na g e me nt  No t a wa re o f a ny c o nsulta tio ns with o the r a c c o unta nts  Re c e ntly issue d GASB sta nda rds

T hank Yo u

Co nta c t I nfo rma tio n: Julie F a he y, Audit Pa rtne r

T albot, Kor vola & War wic k, L L P jfahe y@tkw.c om

503.274.2849 4800 Me a do ws Rd. L a ke Oswe g o , OR 97035

Highlights fr

• m the F

Y 2017- 18 CAF R



F Y 2017/ 18 Re por ts inc lude d:



Wa shing ton County Compr e he nsive Annua l F ina nc ia l Re por t (CAF R)



F e de r a l Gr a nts Pr

• g r

a ms



E nha nc e d She r iff’s Pa tr

• l Distr

ic t



Nor th Be tha ny County Se r vic e Distr ic t for Roa ds



Se r vic e Distr ic t for L ig hting No. 1



Ur ba n Roa d Ma inte na nc e Distr ic t



Housing Author ity of Wa shing ton County



E xte r na l Auditor s (T KW)



Ga ve the County a n “Unmodifie d Opinion”



F

• und no ma te r

ia l we a kne sse s with the County’s a c c ounting pr

• c e sse s



CAF R c omplie s with Sta te L a w, a nd g e ne r a lly a c c e pte d a c c ounting pr inc iple s (GAAP)

Highlights fr

• m the F

Y 2017- 18 CAF R

 L

e tte r

• f T

r ansmittal (page s 3- 9) inc lude s

 a br

ie f pr

• file of the County,

 infor

mation asse ssing the County’s e c onomic c ondition,

 r

e le vant financ ial polic ie s,

 major

initiative s,

 and awar

ds and ac knowle dge me nts  Manage me nt’s Disc ussion and Analysis (page s 14- 25) pr

• vide s

 a fac tual and unde r

standable analysis of the County’s major financ ial ac tivitie s

CAF R Ac hie ve me nts and Staff Re c ognition



County r e c e ive d the Gove r nme nt F ina nc e Offic e r s Assoc ia tion (GF OA) Awa r d for E xc e lle nc e in F ina nc ia l Re por ting for the 32nd c onse c utive ye a r



County ha s r e c e ive d Aa a bond r a ting (the hig he st r a ting possible ) sinc e 2016, whic h e nsur e s the be st a va ila ble bor r

• wing r

a te for a ny County de bt



F ina nc e sta ff involve d in pr

• duc tion of the CAF

R a nd othe r F ina nc ia l Re por ts:



Rog e r Da we s, Contr

• lle r



Josh Sa la e ts, Chie f Ac c ounta nt



Justin Str a tton, Ac c ounta nt II



Da wn Smith, Ac c ounta nt II

T ha nk yo u!