2016 Audit of Washington County Presented: Bryan Grunewald, CPA - PowerPoint PPT Presentation

2016 Audit of Washington County Presented: Bryan Grunewald, CPA David Minch, CPA

Components of the Audit ▶ Audit of the Basic Financial Statements ▶ Report on Internal Accounting Controls ▶ Audit of Federal and State Financial Assistance Schedules ▶ Report on Compliance with Federal and State Assistance Requirements

Audit Results ▶ Unmodified Opinion on Basic Financial Statements ▶ No Material Weaknesses in Internal Accounting Control ▶ Federal and State Financial Assistance Schedules are properly presented ▶ No indication of noncompliance with Federal and State Financial Assistance

Certificate of Achievement for Excellence in Financial Reporting

Overview of Financial Condition County is maintaining strong fund balance reserves to provide financial stability for ▶ tax levy supported operations Self Insurance Funds ▶ – Workers Compensation increased net position by $498,371 to a balance of $2,156,550 – Health Ins. increased net position by $1,214,626 to a balance of $ 2,450,912 Enterprise Funds ▶ – Highway Department working capital increased by $297,837 to a balance of $900,123 – Samaritan Health Center working capital decreased by $696,443 to a balance of $825,454 – Fields working capital increased by $165,338 to a balance of $619,022 – Family Park Golf working capital decreased $778,930 to a balance of ($87,606) General obligation debt outstanding = $9.5 Million ▶ Remains at a low level compared to statutory limit and amount of property tax resources needed for repayment

Components of Fund Balance – General Fund 30,000,000 25,000,000 20,000,000 15,000,000 10,000,000 5,000,000 ‐ 2012 2013 2014 2015 2016 Unassigned 12,611,845 13,117,438 11,639,299 10,661,416 12,759,151 Assigned 2,423,614 2,385,270 2,247,820 2,042,458 1,442,892 Committed 4,815,901 7,117,910 6,812,168 4,633,152 2,208,294 Restricted 131,116 236,192 132,857 88,369 180,207 Nonspendable 3,737,026 2,775,362 2,385,943 1,917,867 2,392,308

Fund Balance vs Expenditures 70.0% 60.0% 50.0% Unassigned % of general fund exp. 40.0% Total fund balance % of general fund exp 30.0% Unassigned % to gov. funds 20.0% exp. 10.0% 0.0% 2012 2013 2014 2015 2016

Self Insurance Funds – Net Position (equity) 5,000,000 4,500,000 4,000,000 3,500,000 3,000,000 2,500,000 Workers compensation 2,000,000 1,500,000 Health insurance 1,000,000 500,000 ‐ 2012 2013 2014 2015 2016

Highway Operations – Working Capital (current assets – current liabilities) 1,000,000 800,000 600,000 400,000 200,000 0 ‐200,000 ‐400,000 ‐600,000 ‐800,000 ‐1,000,000 2012 2013 2014 2015 2016 Highway (464,968) (796,367) 396,637 602,284 900,123

Samaritan and Fields – Working Capital (current assets – current liabilities) 2,000,000 1,500,000 1,000,000 500,000 ‐ (500,000) 2012 2013 2014 2015 2016 Samaritan 409,709 1,016,671 1,736,951 1,521,897 825,454 Fields (180,216) (206,853) 222,328 453,684 619,022

Family Park Golf Course– Working Capital (current assets – current liabilities) 800,000 600,000 400,000 200,000 ‐ (200,000) (400,000) (600,000) 2012 2013 2014 2015 2016 Golf (447,986) (512,590) 287,815 691,324 (87,606)

Additional Comments and Observations Management letter comments and observations: Recent pronouncements from the Governmental Accounting Standards Board ▶ (GASB) – Statement No. 74 & 75, Accounting and Financial Reporting for Other Post- employment Benefits Uniform Grant Guidance Documentation ▶

THANK YOU! Bryan Grunewald, CPA David Minch, CPA