HomeMy WebLinkAboutMINUTES - 01251994 - 2.1 a' L
TO: BOARD OF SUPERVISORS5 �
Contra
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FROM: Kenneth J. Corcoran, Auditor-Controller Costa
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County
DATE: January 25• 1994 <� in
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SUBJECT: Comprehensive Annual Financial Report for year ended
June 30, 1993
SPECIFIC REQUEST(S)OR RECOMMENDATION(S)&BACKGROUND AND JUSTIFICATION
RECOMMENDATION:
Receive this report, the Comprehensive Annual Financial Report
(CAFR) for the year ended June 30 , 1993 .
FINANCIAL IMPLICATIONS:
Receipt of this report has no direct financial implications.
However, publishing audited financial statements which satisfy both
generally accepted accounting principles and applicable legal
requirements has proved beneficial in obtaining the highest ratings
by Standard and Poor' s Corporation and Moody' s Investor Services on
our various debt issues.
BACKGROUND:
Section 25253 of the Government Code of the State of California
requires: "Annually the board shall cause to be prepared and
published a statistical report showing in compendious form all the
financial transactions of. the county for the last fiscal year. . . " .
For over 50 years the policy of the County has been to require an
annual audit of the financial statements of the county by indepen-
dent certified public accountants. 12 years ago, our office decided
to publish our annual reports in compliance with the Government
Accounting Standards Board which allows us to apply for the Govern-
ment Finance Officers Association' s Certificate of Achievement for
Excellence in Financial Reporting. Contra Costa County received
this award for 11 consecutive years. The fiscal year 92-93 report
has been submitted for review and we expect the Certificate will
again be issued.
CONTINUED ON ATTACHMENT: YES SIGNATURE:
RECOMMENDATION OF COUNTY ADMINISTRATOR RECOMMENDATION OF BOARD COMMITTEE
APPROVE OTHER
SIGNATURE(S):
ACTION OF BOARD ON - anuary 25 , 1994 APPROVED AS RECOMMENDED OTHER
VOTE OF SUPERVISORS
I HEREBY CERTIFY THAT THIS IS A TRUE
XX UNANIMOUS(ABSENT AND CORRECT COPY OF AN ACTION TAKEN
AYES: NOES: AND ENTERED ON THE MINUTES OF THE BOARD
ABSENT: ABSTAIN: OF SUPERVISORS ON THE DATE SHOWN.
CC: CAOATTESTED January 25, 1994
Auditor-Controller PHIL BATCHELOR,CLERK OF THE BOARD OF
SUPERVISORS AND COUNTY ADMINISTRATOR
BY DEPUTY
M382 (10/88) ��