Comprehensive annual financial report / Santa Cruz County

              The County spent $31.8 million for
operations, debt service, and capital
projects in fiscal year 2002. The
majority of the expenditures, over 58
percent, are from the General Fund. A
brief description of the types of
expenditures for each of the County’s
funds follows.
General Fund expenditures cover a wide
variety of services in addition to general
government activities. Those additional
services include public safety; health,
welfare, and sanitation; education and
economic opportunity; recreation; and
capital outlay.
2002
Year Ended June 30, 2002
Santa Cruz County
Subject
Santa Cruz County
issues a Comprehensive
Annual Financial Report.
The County is
responsible for preparing
financial statements,
maintaining strong
internal controls, and
demonstrating
accountability for its use
of public monies. As the
auditors, our job is to
determine whether the
County has met its
responsibilities.
Our Conclusion
The information in the
County’s financial
statements is reliable.
Because our audit
followed governmental
auditing standards, we
will also report, at a later
date, any internal control
weaknesses we noted
during our audit.
REPORT
HIGHLIGHTS
FINANCIAL STATEMENT AUDIT
County Expenditures
Represent a Variety of Services
Santa Cruz County
Expenditures by Fund Type
Year Ended June 30, 2002
(In Millions)
Debt
Service
$0.6
Capital
Projects $0.5
Special
Revenue
$12.2
General
$18.5
Special Revenue Funds expenditures,
representing 38 percent, result from
statutory, grantor, or local policy
requirements. The largest programs
are for road maintenance, flood control,
criminal justice, workforce investment
act, public health services, and public
safety programs.
Debt Service Fund expenditures,
representing nearly 2 percent, are the
principal and interest payments
associated with the County’s
outstanding general obligation bonds.
Capital Projects Funds expenditures,
representing 1.5 percent, result primarily
from construction projects for the
County’s airport industrial park. The
remaining expenditures are for
community development projects.
Intergovernmental and Tax
Revenues Increased During
Fiscal Year 2002
The County Received Its
Twelfth Consecutive Award
for Reporting Excellence
During fiscal year 2002, the County
received the Government Finance
Officers Association Certificate of
Achievement for Excellence in
Financial Reporting for its fiscal year
2001 Comprehensive Annual Financial
Report.
A copy of the full report
can be obtained by calling
the County at
(520) 375-7800
or by visiting
our Web site at:
www.auditorgen.state.az.us
Contact person for
this report:
Phil Shultz
TO OBTAIN
MORE INFORMATION
REPORT
HIGHLIGHTS
FINANCIAL STATEMENT AUDIT
Year Ended June 30, 2002
page2
$15.7
$18.8
$9.0
$10.1
$3.6 $3.4
$0
$5
$10
$15
$20
Intergovernmental Taxes Other
Santa Cruz County
Revenues by Source
Years Ended June 30, 2001 and 2002
(In Millions)
2001 2002
Intergovernmental and tax revenues
represent almost 90 percent of total
revenues in fiscal year 2002.
Intergovernmental revenues consist
primarily of federal and state grants,
highway user revenues, and sales
taxes. Intergovernmental revenues
increased 19 percent due to
additional federal funding to
complete continuing repairs for a
Governor declared disaster and for
the Workforce Investment Act grant.
Tax revenues consist primarily of real
and personal property taxes, auto lieu
taxes, and excise taxes. Tax revenue
increased 12 percent due to a higher tax
rate for the Flood Control District in the
Special Revenue Funds and a higher
assessed property valuation countywide.
This marks the twelfth consecutive year
the County has received this award.
The County plans to submit this year’s
report to the certificate program.