Weatherford Democrat

Front Page

June 27, 2013

County receives clean financial audit

Auditors note one finding; commend county for increasing reserve fund

By JUDY SHERIDAN

Parker County received a clean opinion Wednesday from auditing firm Snow Garrett & Williams.

Kathy Williams, a partner with the firm, presented the annual financial report for the year ending Sept. 30, 2012, to the court.

“In our opinion financial statements are presented fairly in all material respects,” she said. “As of Sept. 30, 2012, the year ended in conformity with generally accepted accounting principles. That is that clean opinion you want to see on the county’s financial statements.”

The auditor did note a finding. A liability account in one of the agency funds had not been reconciled and was significantly overstated.

It was described in the audit as a significant deficiency on a Schedule for Findings and Questioned Costs.

“There’s an agency fund where state fees are collected, and that goes into a liability account to be paid back to the state,” Williams explained.

“But the liability account was not reduced when that liability was paid, and instead it was expensed in the general fund, so we had a significant journal entry that actually increased fund balance in your general fund and adjusted that liability to what it should have been.”

Williams said the firm was recommending the county reconcile agency fund liability accounts annually and set up different accounts.

“The plus side of this is that we actually have $400,000 that we didn’t think we had,” Riley said. “This is one of those good things.”

“It was expended out of the general fund, and it shouldn’t have been,” Williams responded, “so actually it’s picked up as if it were revenue in the general fund.”

Williams pointed out several things to the court.

She showed that total capital assets at the end of 2012 had decreased almost $2.4 million, from $75.9 million to $73.5 million.

“You had your $16 million in capital asset additions for the 2012 fiscal year, but then you also delegated over $15 million of infrastructure and land to local governmental entities, so that’s the main thing.”

Text Only
Front Page
  • students.jpg Is opting out an option?

    One local parent has taken it upon herself to make her voice heard. Michelle Osterkamp, who has two children attending Mary Martin Elementary, began to research the opt-out method after talking with some of her teacher friends.

    April 20, 2014 1 Photo

  • Taste of Parker County logo.jpg Canyon West to host Taste of Parker County

    Prepare your taste buds, because the sixth annual Taste of Parker County is just a few short weeks away, and this year’s event has moved to a larger location to accommodate even more great eats and treats.

    April 19, 2014 2 Photos

  • 0420 one USAF riders IMG_7940.jpg Riding high

    Members of the United States Air Force Cycling Team, preparing to participate in the 12th annual Ride for Heroes in Aledo Saturday, met Friday with their supporters — members of the Bush Legacy Republican Women of Weatherford — for a pre-ride photo shoot at the historic courthouse followed by pre-ride carbo loading at Milano’s in Willow Park.

    April 19, 2014 2 Photos

  • Aledo City Council Place 2 Candidates.jpg Q&A: Aledo City Council Place 2 candidates

    With some contested races in area school board and city council races on the May 10 ballots, the WD will provide a closer look at some of those through a question-and-answer feature with the candidates. Early voting begins April 28. Today we look at the candidates running for Place 2 on Aledo City Council.

    April 18, 2014 1 Photo

  • USAF photo.jpg Heroes riding for heroes

    The 12th annual Ride for Heroes bike ride this Saturday in Aledo will include some VIPs: members of the United States Air Force Cycling Team.

    April 18, 2014 1 Photo

  • Little league makes pitch to city for lower user fees

    Weatherford Little League officials have asked the city to lower user fees to the league.

    April 17, 2014

  • 0418 one oregel, oscar.jpeg Trunk full of cash leads to trip to jail

    After a traffic stop late Monday night in Parker County, the Texas Department of Public Safety seized more than $54,000 from a man who, DPS says, admitted to trafficking in narcotics for people he met in Mexico.

    April 17, 2014 1 Photo

  • cigarette butts.jpg No butts about it, smoking ban nears

    Weatherford eating establishments have just over a week to get their no smoking signs in place and prepare for the no smoking ordinance enacted by the city council in February to go into effect.

    April 17, 2014 1 Photo

  • Proposed change in city charter goes before W’ford voters next month

    Weatherford residents will have the chance to vote on a pair of charter amendments on Election Day May 10.

    April 16, 2014

  • IMG_7134.JPG Despite cold, peach crops looking rosy

    Parker County peach growers won’t know for sure for a few more days, but as of Wednesday, one day after April temperatures plummeted into the low 30s, they’re predicting a good, even rosy, peach harvest for this year’s Parker County Peach Festival.

    April 16, 2014 1 Photo

Must Read
Top News
House Ads
AP Video
Raw: More Than 100,000 Gather for Easter Sunday Raw: Greeks Celebrate Easter With "Rocket War" Police Question Captain, Crew on Ferry Disaster Raw: Orthodox Christians Observe Easter Rite Ceremony Marks 19th Anniversary of OKC Bombing Raw: Four French Journalists Freed From Syria Raw: Massive 7.2 Earthquake Rocks Mexico Captain of Sunken SKorean Ferry Arrested Raw: Fire Destroys 3 N.J. Beachfront Homes Raw: Pope Presides Over Good Friday Mass Raw: Space X Launches to Space Station Superheroes Descend on Capitol Mall Man Charged in Kansas City Highway Shootings Obama Awards Navy Football Trophy Anti-semitic Leaflets Posted in Eastern Ukraine Raw: Magnitude-7.2 Earthquake Shakes Mexico City Ceremony at MIT Remembers One of Boston's Finest Raw: Students Hurt in Colo. School Bus Crash Deadly Avalanche Sweeps Slopes of Mount Everest
Hyperlocal Search
Premier Guide
Find a business

Walking Fingers
Maps, Menus, Store hours, Coupons, and more...
Premier Guide
Stocks