FY 23 Approved Budget Book

TREASURY - BUREAU OF ACCOUNTING OBJECTIVE & PERFORMANCE MEASURES

Department Goal To provide technical accounting oversight and guidance to County agencies and external customers to ensure that generally accepted accounting principles, legal requirements, County policies and procedures are consistently applied in order to maintain the integrity of the County's accounting records and to fully meet all reporting requirements. Department Objective To prepare annual financial reports and schedules which include the Annual Comprehensive Financial Report (ACFR) and the Maryland Uniform Financial Report (UFR).

County Goal(s) Supported I. Fiscal Balance and Efficiency

Estimated 2023

Measure

Actual 2020 Actual 2021 Budget 2022

Input:

Dollars Allocated Number of Staff

$4,492,217 $4,401,945 $5,643,564 $6,325,719

43

43

43

43

Output: Number of reports issued by legislative mandate: ACFR - October 31st

1 1

1 1

1 1

1 1

UFR - November 1st

Outcome: Financial statements determined to conform to Generally Accepted Accounting Principles without qualification.

Yes

Yes

Yes

Yes

Explanation and Analysis of Performance Measures In order to fairly present the County's financial position and operating results in conformity with Generally Accepted Accounting Principals (GAAP), Governmental Accounting Standards Board (GASB), Governmental Finance Officers Association (GFOA), Financial Accounting Standards Board (FASB), County, State, and Federal guidelines. To complete one hundred percent of the above mentioned reports on time and in compliance with established guidelines. To achieve these measures we will: 1) set up meetings to discuss audit with auditors; 2) do Pro Forma of all the reports that are due; 3) do variance reports and explain all variances over a dollar threshold; 4) run final Accounts Payable; 5) do all final reconciliations and journal entries; 6) run final reports from the financial system; 7) prepare the ACFR and UFR; and 8) submit to auditors for review and opinion.

282