Audit Report: DeKalb Financial Outlook Improves

DECATUR, Ga. – For the first time in six years, DeKalb County's Comprehensive Annual Financial Report (CAFR) was delivered on time and without material weaknesses. Additionally, the county also eliminated five areas of deficiency from findings documented in the fiscal year 2016 audit.

"This report confirms that DeKalb County has strengthened accountability, enhanced transparency and restored fiscal integrity to our government," said DeKalb County CEO Michael Thurmond. "All issues from previous audits have been resolved and we implemented new procedures to protect our financial wellbeing.”

DeKalb County resolved two significant fiscal year 2016 financial weaknesses, the reconciliation of a $1.6 million cash variance along with the completion of all the county’s bank reconciliations and settling more than 600 outstanding employee travel advances.

“Dianne McNabb, interim chief financial officer, and her team did an outstanding job by preparing and submitting the 2017 financial report in a timely and accurate manner,” said CEO Thurmond.

DeKalb County’s 2017 fiscal year ended on Dec. 31, 2017, with nearly two months of operating revenue in its tax fund balance. The county’s tax fund balance, or rainy day fund, increased by 52 percent or $27.8 million, from $53.2 million in 2016 to $81.1 million in 2017. The increase in the rainy day fund has significantly reduced the county’s need to secure temporary loans by 36 percent, from $70 million in 2016 to an estimated $45 million in 2017.

“It’s great to hear […] improvements are going on in the county,” said Gena Major, chairperson of the DeKalb County Audit Oversight Committee. Major also noted that fiscal year 2017 was a pivotal year because a new CEO and the Office of Independent Internal Audit were in place and contributed to the county being able to submit the report on time.

The 2017 CAFR was presented at the June 29 Audit and Oversight Committee meeting by independent public accounting firm Mauldin & Jenkins. For a complete copy of the financial report, visit www.dekalbcountyga.gov/finance/financial-reports. 

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