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 or 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 om 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 ol 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 ogr am and Re por t on Inte r nal Contr ol 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 om 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 og r a ms  E nha nc e d She r iff’s Pa tr ol 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 ound no ma te r ia l we a kne sse s with the County’s a c c ounting pr oc 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 om the F Y 2017- 18 CAF R  L e tte r of T r ansmittal (page s 3- 9) inc lude s  a br ie f pr ofile 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 ovide 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 the 32 nd c onse c utive ye a r for E xc e lle nc e in F ina nc ia l Re por ting for  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 owing r a te for a ny County de bt  F ina nc e sta ff involve d in pr oduc tion of the CAF R a nd othe r F ina nc ia l Re por ts:  Rog e r Da we s, Contr olle 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!