Fiscal Services

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%

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

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

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)