www.co.worcester.md.us

Annual Financial Report confirms Worcester County in solid financial standing

Worcester County Treasurer’s Office officials recently completed the County’s Comprehensive Annual Financial Report (CAFR) for fiscal year 2016. This format, which adheres to the guidelines recommended by the Government Finance Officers Association, provides full accountability to Worcester County citizens and others with an interest in government finances. The CAFR outlines County finances and reflects a long-established history of prudent fiscal management practices.  

Chris Hall of TGM Group, LLC, Certified Public Accountants met with the Commissioners on December 6, 2016 to review Worcester County Government’s annual financial report for the year ending June 30, 2016. He advised that the findings of TGM’s Independent Audit Report reveal that Worcester County’s financial statements are both complete and accurate due to the exercising of tight internal controls, assuring that this required information remains compliant with generally accepted accounting principles. 
            Worcester County Government remains compliant with the internal policy requiring that a reserve fund be maintained at a level equal to 10% of budgeted annual General Fund expenditures.
For more information about the CAFR, contact Finance Officer Phil Thompson or Assistant Finance Officer Jennifer Swanton at (410) 632-0686.