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Palm Coast Tuesday, Jun. 30, 2020 1 week ago

Flagler County gets high marks for financial accounting

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'Sound financial responsibility is the most important responsibility of government,' said County Administrator Jerry Cameron
by: Guest Writer

The following press release was submitted by Flagler County government:

Representatives from Carr, Riggs, and Ingram presented audit findings on Flagler County’s Comprehensive Annual Financial Report for fiscal year ending Sept. 30, 2019 at a special meeting of the Board of County Commissioners on Monday, June 29.

“We’re excited to be here today to present the statements to you,” said Frank Mason, Engagement Partner from independent accounting firm, Carr, Riggs, and Ingram. “The audit opinions on the financial statements are of the highest quality.”

Mason remarked that not only was Flagler on-schedule in a year when many communities had not yet completed reports, but the county was ahead of where it was last year.

“Sound financial responsibility is the most important responsibility of government,” said County Administrator Jerry Cameron after the meeting. “I am very pleased with the outcome of the audit – both that it was completed on time, and that we are increasing our reserves.”

The audit included review of Flagler County’s major federal program “Disaster Grants, Public Assistance” and five state projects, with two recommendations provided: that Flagler County utilize a grant administrator to oversee the preparation of the schedule of expenditures of federal awards and state financial assistance, and that the County amend its documentation retention policy to maintain intake forms specific to its transportation services indefinitely or as long as participants continue to use the services.

No significant deficiencies were noted and it concluded that the County complied “in all material respects with the aforementioned requirements.”

“We’re extremely pleased,” said Tom Bexley, Flagler County Clerk of Courts and Comptroller, whose office is responsible for publishing the Comprehensive Annual Financial Report. “We’re in a much better place than we’ve been in the past three years. You, as a county, are in a better place financially, which is also a testament to hard work.”

The third-party audit is an annual requirement, codified by Florida Statutes. The standards require the auditor to report not only on the fair presentation of the county’s financial statements, but also on its internal controls and compliance with legal requirements with special emphasis on the administration of federal awards.

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