County Financial Report’s “Clean”
External auditors gave Comal County’s annual financial report an unqualified, or “clean” opinion, meaning it is free of material misstatements.
The report was presented Thursday to the Comal County Commissioners Court.
“It’s the highest level of assurance we can give on the county’s financial statements,” said Michael Lopez, partner of the San Antonio auditing firm ABIP P.C.
Texas Local Government Code requires counties to produce a set of audited financial reports each year.
The Comal County Auditor’s Office prepares the annual report, which is then reviewed by an external accounting firm. ABIP examined the report for the 2017 calendar year and found the statements are presented fairly, in accordance with generally accepted accounting principles.
“Financial transparency is an important part of what we do,” County Auditor Jessie Rahe said. “We work hard every year to make sure Comal County has an open budgetary process that results in a strong financial position.”
In 2017, Comal County’s general fund received $56.66 million in revenue while spending $53.42 million. The $3.24 million surplus raised the county’s fund balance to $25.52 million, or nearly six months’ reserves. Last August, commissioners approved a $52.23 million general fund budget as part of an overall $93.38 million 2018 budget. The 2019 budget-approval process is underway.
The 2017 Comprehensive Annual Financial Report will be available at the county’s financial transparency webpage: co.comal.tx.us/Transparency_Financial.htm.