The Henry County Board of Commissioners
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About the Popular Annual Financial Report
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General Henry County Government Information
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Outstanding Achievement in Financial Reporting
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Revenue and Expenditures
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Department Overviews
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Financial Snapshot
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Key Values and Financial Reporting
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Financial Management and Government Policies
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Glossary of Terms
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Photograph by Jon Minnihan Warren Holder Park
2013 POPULAR ANNUAL FINANCIAL REPORT FOR FISCAL YEAR ENDED JUNE 30, 2013
HENRY COUNTY LEADERSHIP
Board of Commissioners
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HENRY COUNTY • GEORGIA
Tommy N. Smith CHAIRMAN
Gary Barham DISTRICT III
William ‘Bo’ Moss DISTRICT I
Reid A. Bowman, Sr. DISTRICT IV
Brian Preston DISTRICT II
Bruce B. Holmes DISTRICT V
About the PAFR The Popular Annual Financial Report of Henry County is presented as a means of increasing public understanding and confidence in County government and its elected officials through easier, more user-friendly financial reporting. As you review our PAFR, we invite you to share any questions, concerns or recommendations you may have. We are pleased to present the Henry County Popular Annual Financial Report (PAFR) for the fiscal year ended June 30, 2013. As many governments and retail businesses do, Henry County runs its budget on a “fiscal year,” rather than a calendar year. This is so we can close the accounts during a slower time of the year than December, when property tax is being received and sales tax receipts are higher due to holiday shopping. The U. S. Government and State of Georgia run on a fiscal year of October 1 to September 30. Henry County chooses to run its fiscal year from July 1 to June 30, along with 264 other counties and municipalities in Georgia. This report deals with the fiscal year that ran from July 1, 2012 to June 30, 2013 and is known as FY 12-13. The purpose of this Popular Annual Financial Report is to summarize and simplify information contained in the Comprehensive Annual Financial Report (CAFR) of Henry County. The County’s financial statements are prepared in accordance with Generally Accepted Accounting Principles (GAAP) in the United States of America and are independently audited by Mauldin & Jenkins, CPA. The CAFR is available for review online at www.henrycounty-ga.org/Finance. Much of the information in the audited financial statements is necessarily technical and complex. As a
result, the full financial statements may not be particularly useful to the citizens of Henry County who wish to better understand County finances. Eight years ago, Henry County began issuing simplified financial reports, commonly referred to as Popular Annual Financial Reports (PAFR). These reports are intended to better inform the public about their government’s financial condition, without excessive detail or the use of technical accounting terms. This PAFR, which has been generated internally by the Henry County Financial Services Division and the Communications Department, summarizes and explains the information contained in the financial statements for FY 12-13, along with other information on the County’s finances, in easily understood terms. The PAFR is unaudited and does not conform to GAAP and governmental reporting standards. Inside this year’s PAFR, you will find accounting definitions that will help you understand the terms used in this PAFR, the awards we have won for previous PAFRs, general information about your County government, overviews from different government departments showing how some of your money was spent this fiscal year, financial government policies we follow, and finally, how well your County government did this year.
You may access this document, along with the Comprehensive Annual Financial Report, which contains a detailed financial breakdown, on the Henry County website at www.henrycounty-ga.org/Finance www.henrycounty-ga.org
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General Henry County Government Information
Your Government Henry County was formed in 1821 from Creek Indian lands. Georgia’s 50th county is located approximately 25 miles southeast of the city of Atlanta, and is considered part of the metropolitan Atlanta area. The County currently occupies 323 square miles of land and serves a population of more than 209,000. Four municipalities are located within Henry County: McDonough, which is the County seat, Stockbridge, Hampton and Locust Grove. The governing authority of Henry County is a Board of Commissioners consisting of five members elected by district and a Chairman elected at-large. The commissioners serve on a part-time basis and are elected to staggered terms of four years. The commissioners are responsible, among other things, for passing ordinances, adopting the budget, establishing tax rates, appointing committees and hiring both the County’s manager and attorney. The County Manager is responsible for the administration of all of the affairs of the County over which he or she has jurisdiction, including offering positions of classified employment, as well as appointing heads of various departments. Henry County provides a full range of services, including law enforcement; fire and rescue; corrections; the construction and maintenance of public buildings, parks, streets, highways, bridges, storm water drainage facilities, and other associated infrastructure; parks and recreational activities; 911 emergency communications; voter registration and elections; court systems; tax assessment and collections; building inspections; geographic information; planning and zoning; recycling; and general administrative and support activities. The County provides police protection to the unincorporated areas of the County and the city of Stockbridge. The County also provides fire protection and emergency medical services to all areas of the County except the city of McDonough, which has its own fire department.
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HENRY COUNTY • GEORGIA
ELECTED OFFICIALS Sheriff Tax Commissioner District Attorney Senior Superior Court Judge Superior Court Judge Superior Court Judge Clerk of Superior Court Senior State Court Judge State Court Judge State Court Judge State Court Judge Solicitor of State Court Magistrate Court Judge Probate Court Judge Coroner
APPOINTED OFFICIALS Interim County Manager County Clerk County Attorney Interim Community Development Director Public Works Director Financial Services Director
Keith McBrayer David Curry James Wright Arch McGarity Wade Crumbley Brian Amero Barbara Harrison Ben Studdard III James T. Chaffin III Ernest Blount Jason T. Harper Trea Pipkin Robert Godwin Kelley Powell Donald Cleveland
Michael Harris Shay Mathis LaTonya Wiley Cheri Hobson-Matthews Terry McMickle Fred Auletta
H e nr y C o u n ntttyy Boaarrd of Commissioners BOC BO C
Financial F inancial S Service erv ice Di rector Director
County Co unty Cl Clerk erk
Communications Communications Department Dep artment
County C ounty A Attorney ttorney
Risk Ri sk M Management anagement Safety Officer Safety O fficer
Executive Executive Secretary Secretary
IInterim nterim Count County y Manager Manager
Budget B udget
Executive E xecutive A Assistant ssistant
Airport A irport
Accounting A ccounting & Financial F ncial Reporting Fina Reporting
Accounts A ccounts Payable Payable
Public Works Public Wo orks Division Division Dir. Dir.
Public Pu blic Safety Safety
Procurement P rocurement
Community Co mmunity Devel opment Development
Planning P lanning & Zoning Zoning
County C ounty DOT DOT ((DOT DOT Director) Director)
Police Police Dep artment Department
SPLOST SPL OST
Current C urrent P Planning lanning Payroll P ayroll
Senior S enior Services Services
Fire Fire Department Department
Emergency Emergency Management Management
Tax T ax Assessors Assessors ((Liaison) Liaison)
Transit T ransit Services Servi e ces
E-911 E -911 System System
Code Code Enforcement Enforcement
Animal A nimal Control C ontrol
Coroner Cor oner
Technology T echnology gy Services Services
SPLOST SPL OST Capital Projects Cap ital P rojects
Parks P arks & Recreation Recreat ion
Community Community Service S ervice
Development Dev elopment P Plan lan Review Rev iew
DOT/Roads DO T /Roads & Streets Streets
Transportation T ransportation Planning P lanning
DOT/ D OT / Public Public Works Wo orks Infrastructure Infrastructure
Building and Building IInspections nspections Library L ibrary Sys System tem ((Liaison) Liaison)
Human Hu man Reso Resources urces
Comp. C omp. Planning Planning
DOT/Traffic DO T /Trafffic Engineering Engineering
Emergency E mergency Co mm. Comm.
Tax Tax Commissioner Com missioner ((Liaison) Liaison)
DOT/Admin. D OT /Admin.
SPLOST SPL OST T ransportation Transportation
Fleet F leet Services Services
Other O ther A Agencies gencies s ((Liaison) Liaison)
Elections E lections & Registration Regi stration ((Liaison) Liaison)
GIS
DFACS DF ACS ((Liaison) Liaison)
Facilities F acilities Maintenance Maintenance
Dev elopment Development Authority Authority (Liaison) (Liaison)
Env ironmental Environmental Compliance Compliance
Health Heal th Depar Department tment ((Liaison) Liaison)
Stormwater Stormwater Management Management
Recycling Rec ycling
Business B usiness Li License cense ((Liaison) Liaison)
Approved A pproved Feb. Feb. 6, 6 2007 / Unofficially Unofficially Updated Updatted September September 1, 2013
www.henrycounty-ga.org
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Outstanding Achievement Henry County has won the Award for Outstanding Achievement in Financial Reporting in all years that we have submitted a Popular Annual Financial Report for judging, dating back to 2006.
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www.henrycounty-ga.org
“The Government Finance Officers Association of the United States and Canada (GFOA) has given an Award for Outstanding Achievement in Popular Annual Financial Reporting to Henry County Board of Commissioners, Georgia, for its Popular Annual Financial Report for the fiscal year ended June 30, 2012. The Award for Outstanding Achievement in Popular Annual Financial Reporting is a prestigious national award recognizing conformance with the highest standards for preparation of state and local government popular reports. This is the seventh year that Henry County has received this prestigious award.
In order to receive an Award for Outstanding Achievement in Popular Annual Financial Reporting, a government unit must publish a Popular Annual Financial Report, whose contents conform to program standards of creativity, presentation, understandability and reader appeal. An Award for Outstanding Achievement in Popular Annual Financial Reporting is valid for a period of one year only. We believe our current report continues to conform to the Popular Annual Financial Reporting requirements, and we are submitting it to GFOA.� 9
REVENUES & EXPENDITURES
Revenue Sources
TOTAL REVENUES • $123,411,726 Total General Fund revenues of the fiscal year, which ended June 30th, 2013 were $123,411,726. Revenues for the prior year were $111,884,074. This increase in revenues of $11,527,652 (10.3%) was mainly due to an increase in the millage rate. The BOC approved a millage rate increase in order to stabilize revenues after years of declining residential property values, which in turn, allowed the county to provide the same level of service to a continually growing population.
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Expenditures
TOTAL EXPENDITURES • $105,648,347 Total General Fund expenditures for the fiscal year, which ended June 30th, 2013 were $105,648,347. Expenditures for the prior year were $106,737,870. Although, at the beginning of the fiscal year, the BOC budgeted increases in various department expenditures, total expenditures actually decreased by $1,089,523 (1.02%). This was primarily related to a combined effort by all departments to tightly manage spending, not filling vacant positions, negotiating no increase in group insurance premiums, and by holding employee wages to a fifth year without an increase.
www.henrycounty-ga.org
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Department Overviews Atlanta South Regional Airport • 14 Animal Care & Control • 16 Code Enforcement • 17 Communications • 17 Fire Department • 18
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www.henrycounty-ga.org
Human Resources • 19 Neighborhood Stabilization Program • 19 Police Department • 20 Purchasing • 21 Transit • 21
2013 POPULAR ANNUAL FINANCIAL REPORT
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DEPARTMENT OVERVIEWS According to 2010 Census estimates, Henr y County is the 9th most populous county in Georgia. At 323 square miles, Henry ranks 93rd (out of 159) in the state in area and is the fifth largest in the 10-county region. As of 2013, the reported population was slightly over 209,000. Henry County's ever-changing demographics and growing population are ser ved by approximately 1,543 employees spanning a variety of divisions, departments and partnerships, a few of which are highlighted in the following pages.
ATLANTA SOUTH REGIONAL AIRPORT a number of diverse industries. What it takes to attract these key industries to a (Awaiting FAA approval of name change to community is a combination of an available, educated Henry County Airport) Economic Development, that is taking an active role in attracting industry and quality jobs to our community, is a critical function of local government. In a down economy, the importance of that role becomes all the more evident, as those communities that have fared the best throughout this recession are those with 14
HENRY COUNTY • GEORGIA
workforce, economic incentives, quality of life and infrastructure, which has traditionally meant roads and water. But in today’s “time-is-money world,” more and more corporations are looking to locate in communities with airfields nearby that will enable them to fly their executives directly into their communities on their
Recent construction at the Atlanta South Regional Airport (Awaiting FAA approval of name change to Henry County Airport) includes a 1,000 foot extension to the runway, widening of the entire length of the runway by 25 feet, and the installation of a new taxiway at the end of the new runway.
private planes, avoiding the hassle of commercial airlines and busy airports. There is also an enormous opportunity for direct economic growth within the aerospace industry. The Georgia Department of Economic Development, the state’s marketing arm, is charged with recruiting new jobs and investment to Georgia, which is currently ranked 8th in U.S. aerospace industry employment. Since the average aerospace worker in Georgia earns over $61,300 annually, 43 percent higher than the average for the state, it isn’t surprising that aviation and aerospace projects are an important target industry segment for the state and county. “There are numerous benefits for communities that have up-to-date aviation facilities,” explained Bob White, Executive Director of the Henry County Development Authority. “Modern aircraft, including corporate jets, are very expensive to own, operate and maintain. Increased ad valorem taxes for aircraft housed within the county, together with fuel sales and other aviation investments, add to the local tax base, while airframe, mechanical system and avionics repair businesses provide highly-sought technical jobs that will stimulate the local economy further. The acquisition of Tara Field (name change after acquisition) will help to “level the playing field” with other communities that have already invested in enhanced aviation
infrastructure.” With its proximity to Atlanta Motor Speedway, its location in an Opportunity Zone that will provide job tax credits to businesses located within the Zone, and thousands of acres of vacant land surrounding it, the airport is projected to be a powerful catalyst for economic development. This includes the expansion and/or creation of quality jobs in airframe, mechanical system and avionics repair businesses adjacent to the airport, as well as other high-paying jobs. By positioning the airport to be both an economic driver and the preferred choice for aviation south of Atlanta, the County and its airport operations will benefit directly, through increased ad valorem taxes on aircraft housed at the airport, as well as fuel sales, hangar rents and other outside aviation investments that will add to the local tax base. This potential is precisely why Henry County made the acquisition of Tara Field one of its chief strategies in its 2009 Economic Development Plan. And it is also why Henry County acted in 2011, with budgets as tight as they were, to purchase the facility. But there is another major reason for making the acquisition at that time: the County was able to take advantage of an infusion of funding from the Federal Aviation Administration (FAA) and the Georgia Department of Transportation (GDOT) that amounts to www.henrycounty-ga.org
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DEPARTMENT OVERVIEWS approximately 95 percent of the total purchase amount, thereby putting minimum burden on local taxpayers in making this key investment to Henry County’s economic future. Thanks to the funding from the FAA and GDOT, Henry County government paid just $2.7 million toward the purchase price of $17.7 million. Recently completed construction at the airport includes a 1,000 foot extension to the runway, bringing the total length to 5,503 feet with a 490-foot displaced threshold; widening of the entire length of the runway by 25 feet for a total width of 100 feet; and construction of a new taxiway at the end of the new runway. Located at 527 Hampton Street in McDonough.
ANIMAL CARE & CONTROL The mission of Henry County Animal Care & Control is to enforce the state laws and county ordinances pertaining to animal control and management; educate the community in responsible pet ownership and wildlife care; and provide for the housing and care of stray, homeless animals impounded due to violations of the County’s animal control ordinance. In fiscal year 2012 - 2013, Animal Control Officers responded to a total of 6,177 complaints. They issued 1,243 warnings and 299 citations. The Animal Care and Control Shelter, located at 527 Hampton Street in McDonough, housed 4,574 animals during the fiscal year. Of those, 507 animals were reclaimed by their owners, 511 were adopted from the shelter, and 1,138 went to licensed rescue groups. The department also handles rabies control for Henry County. In Fiscal Year 2012-2013, the department submitted a total of 34 animals for rabies testing. Of these, 6 animals were found to be positive for the virus. To combat rabies, the department offers a low-cost rabies vaccine clinic twice a year. Approximately 200 Henry County companion animals were vaccinated against the rabies virus at each clinic. A low-cost spay/neuter clinic continues twice a month, at no cost to the County, to assist in lowering the number of unwanted puppies and kittens in the community. Approximately 60 pets are spayed or
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HENRY COUNTY • GEORGIA
neutered through the clinics each month. Animal Control has increased awareness of adoption and pet rescue opportunities through “Pet of the Week” features in local media and on various Internet-based adoption sites, such as Petfinder.com. Animal Control has developed a “Bite Prevention” education program for children in pre-k through elementary grades, and has established the “Friends of Henry County Animal Shelter Volunteer Program,” allowing adults 18 years of age and older the opportunity to assist in enriching the lives of companion animals housed at the shelter, and to assist with adoption and rescue efforts. The department has also established the “Kibble Cart,” a program which provides pet food to the pets of senior citizens who are serviced by the County’s Meals on Wheels Program. In an attempt to reunite as many lost pets as possible with their owners, the department offers low cost pet micro-chipping which provides permanent owner identification for pets. All pets that leave the shelter via adoption or transfer to rescue organizations are microchipped before leaving the shelter. Pet owners may come to the shelter at any time, during normal business hours, and have their personal pets microchipped.
CODE ENFORCEMENT The Code Enforcement Division is responsible for enforcing the Codes and Ordinances of the County. Code Enforcement is required to assist other Departments of the County in the prosecution of cases such as violations of the building codes, health ordinances and water ordinances, among others. Usually, the Code Enforcement Department will issue a warning notice to violators, giving the violator an opportunity to comply within a set time limit. A summons to Magistrate Court is normally the last resort. In FY 12-13, Code Enforcement Officers answered 7,653 complaints. They issued 1,833 warnings and 245 citations. Code Enforcement also escorted four houses being moved through the County.
COMMUNICATIONS The mission of the Henry County Communications Department is to promote and educate the public about County news, programs, services and events. To achieve these goals, the department continues to enhance and expand its communications tools. The department published nearly 200 press releases in 2013, compiled those into a newsletter that reached nearly 3,000 citizens weekly and continued using the social media site Twitter, to more efficiently communicate news to citizens. The County currently has more than 1,700 followers. The County’s website offers a plethora of pertinent and timely information and receives approximately 130,000 visitors per month. In 2013, Henry County was awarded a Sunny Award from the Sunshine Review in recognition of being one of the most transparent government websites in the country. As the public relations arm of the County, the department provides writing and graphic design services for all other departments, and assists in producing numerous color brochures and reports, including the award-winning 2012 Popular Annual
Kevin Williams, Communications Broadcast Producer, Meredith Butler, Communications Designer, Ed Gore, Communications Broadcast Specialist, and Melissa Robinson, Communications Director.
Financial Report and the award-winning Henry County Parks and Recreation Calendar. The Communications Department also operates Henry TV14, the County’s government access channel, and produces all of its programming internally. This year, the department once again added to its lineup of popular and informative programs with a cooking and gardening show called “Garden Delights,” produced in conjunction with the UGA Extension Office. Other programming includes the Commission meetings and a weekly news program called “Update.” Henry TV14’s lineup also consists of Zoning Advisory Board meetings, the talk show “Inside Out,” which goes in depth on issues and topics from the perspective of Commissioners and others in local government, and an exercise program for homebound seniors taught by Henry County Senior Services called “SilverTone.” In addition to airing on Charter Cable channel 14, Henry TV14 may now also be accessed through AT&T’s U-verse channel 99, expanding its reach to citizens throughout the County.
www.henrycounty-ga.org
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DEPARTMENT OVERVIEWS
Henry County Fire Department personnel deploy an aerial apparatus equipped with a platform, saving critical seconds to get a man to safety after being severely injured from striking a roof top power line.
FIRE DEPARTMENT During fiscal year 2013, the Henry County Fire Department was very successful in responding to emergency calls for help and providing the citizens with a notable amount of property saved from fire. Henry County Fire Department saved over 13 million of the 18 million dollars’ worth of property threatened by fire. However, the Henry County Fire Department provides services well beyond just fighting fires. The department responded to a total of 22,478 emergency calls. The breakdown is as follows: 626 fire responses, 178 hazardous materials situations, 17,295 Rescue/Emergency Medical Calls, 2,933 other hazardous responses, 788 false alarms, 409 mutual aid responses and 249 other responses. Our ten Advanced Life Support transport ambulances transported 12,523 patients to area hospitals and made another 5,100 patient contacts offering assistance. The department’s Training Division coordinated approximately 235 training classes and our personnel logged 72,664 hours of training. The training division continued to provide firefighter training, technical rescue, hazardous materials, professional development, safety training, and the paramedic academy thereby offering continual high quality education opportunities for personnel. Two recruit classes, totaling 21 weeks of training, were conducted for 24 new firefighters this 18
HENRY COUNTY • GEORGIA
fiscal year. The department’s Prevention Division conducted 6,348 existing building inspections and 518 new construction inspections, reviewed 461 building plans, and attended 315 pre-construction meetings. The arson investigators investigated 122 fires. The smoke alarm program assisted 476 residents with an inspection, installation and/or donation of smoke alarms and/or batteries. Alarms were provided through the 10% return on the Georgia Firefighters Burn Foundation Annual Boot Drive and the batteries were provided by the “Change Your Clock, Change Your Battery” Battery Request Program. The child occupant safety program inspected and/or installed 64 car seats for parents and caregivers, conducted seven Child Occupant Safety Classes, and donated a total of 24 child safety seats provided by The Georgia Department of Public Health Child Occupant Safety Project Mini Grant. The prevention staff reached out to schools, daycares, senior centers and local organizations to provide fire safety education to children, seniors and all ages in between. The Fire Department’s Prevention Division’s purpose is to educate the public to “Prevent the Preventable” fire and on life safety incidents. The mission is accomplished through inspections, life safety code enforcement, fire safety education presentations and career days at daycares, schools, both public and private, senior centers and assisted living homes. The department also hosts tours of the Fire Safety Theater, located at Station 3 in Stockbridge, and organizes tours at the other fire stations. Fire and Life Safety Education was provided for over 37,000 citizens in FY 2013. In addition, over 648 safety messages were distributed through digital, print and social media. The Prevention Division was also fortunate to be a recipient of the Georgia Firefighter’s Burn Foundation 2013 Brant Chesney Memorial Grant funding for the second consecutive year. Grant funds were used to update the outdated technology of the education equipment in the Fire Safety Theater and the Mobile Fire Safety House. The department held its seventh Citizens Fire Academy Class, graduating a total of eight citizens from the ten-week program. The academy is designed to involve citizens in departmental activities by providing
them with information on the day-to-day operations of the fire department. Major events included: Hosting the 4th Annual Atlanta Live Ammonia Release Drill, the 2nd Annual Metro Atlanta Training Officers Workshop Seminar, the 3rd Annual Fire Explorer Expo, the 4th Annual Georgia Fire Investigator’s Association Spring Arson Seminar, the National Fallen Firefighters Foundations’ Leadership, Accountability, Culture & Knowledge (L.A.C.K.) Class and the Train the Trainer Program. In every project the department undertakes, the ultimate goal is to provide Henry County citizens the utmost professional and efficient fire protection and emergency services, while creating a safe work environment for all emergency personnel.
HUMAN RESOURCES The Human Resources Department has worked dilligently over the last year to provide outstanding service to our employees and respond to the needs of the citizens of Henry County. During the past fiscal year, Human Resources has processed 6,104 applications for employment and has hired 267 new employees, compared to 153 from the last fiscal year. These hires were all to fill vacanted positions. Internally, the department has handled 139,932 pieces of mail, 235 requests for records, 920 FMLA requests, 51,700 incoming calls and processed 1,390 personnel action forms (including new hires, resignations/retirements, terminations, transfers, promotions and suspensions).
NEIGHBORHOOD STABILIZATION PROGRAM Henry County is one of 23 Counties/Municipalities in Georgia to be awarded funding from the Georgia Department of Community Affairs (DCA) for its Neighborhood Stabilization Program (NSP). The program was created under the Housing and Economic Recovery Act of 2008, designed to assist states and certain local communities
experiencing particularly high foreclosure problems and risk of property abandonment. The NSP Direct Allocation pool has allocated more than $54 million for projects that meet a minimum $500,000 funding threshold. Henry County received more than $6 million in funding through the Neighborhood Stabilization Program 1 (NSP1) in March 2009 – nearly three times more than the average award amount. Through the Henry County NSP1 Program, we have purchased 192 homes within the approved census tracks, sold 145 homes, giving us an inventory of 47 homes. Henry County was then awarded $530,473 from the Department of Community Affairs and $1,250,000 from the Department of Housing and Urban Development (both NSP3), with the additional funds, Henry County purchased an additional 65 homes which 52 homes have been sold leaving 13 in inventory. The Neighborhood Stabilization Program has proven to be a success in Henry County, by enabling foreclosed homes to be put back into the hands of buyers. This program helps individuals and/or families to realize the dream of homeownership. The objective of the program is to purchase foreclosed residential property, rehabilitating the home and placing it back on the market. The program offers Down Payment Assistance up to $25,000.00, to qualified homebuyers within certain income restrictions. Requirements for the program include but not limited to eight-hour homebuyer education course and to qualify for a mortgage with a lender that complies with sound lending practices. When NSP1 began in 2009, Henry County had a foreclosure rate of 5.1% with over 2,500 homes in foreclosure. We had 18 months to draw down the initials funds, with four years to spend all of the program income generated from the program, which has been re-invested into the program to help more individuals/families. Henry County also met the 25% obligation in eight months which was well ahead of the scheduled date and 5 months ahead for the NSP 3 Program. Through this program, Henry County has been able to put homes back on the Tax Digest and alleviate the problems associated with foreclosed homes.
www.henrycounty-ga.org
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DEPARTMENT OVERVIEWS
The Henry County Police Department unveiled 12 new patrol cars in August on 2013. The 12 vehicles were purchased with confiscated funds from drug dealers and drug investigations.
POLICE DEPARTMENT The Henry County Police Department continues to provide citizens with the best possible law enforcement protection through the most up-to-date training available, information sharing, upgrading of systems and improving processes and/or equipment. In FY 12-13, the Police Department responded to 188,016 calls for service. They made 776 drug arrests and 674 driving under the influence (DUI) arrests. Henry County saw a decrease in stolen vehicles, burglary, rape, aggravated assault, arson and larceny (theft), as compared to FY 11-12. The Police Department is a participant with the Flint Circuit Drug Task Force, a cooperative task force involving multiple local agencies (Hampton, Locust Grove, McDonough, the District Attorney's Office, Henry County Sheriff's Office and the Solicitor’s Office) in a mutually beneficial effort in the fight against illegal narcotics. The Police Department continues its efforts to keep our roads safe by participating in the H.E.A.T. (Highway Enforcement of Aggressive Traffic) program, in conjunction with a MOTORS Unit and Traffic Accident 20
HENRY COUNTY • GEORGIA
Investigation Unit. As compared to FY 11-12, FY 12-13 saw nearly a 2 percent increase in accidents. The Police Department utilizes modern reporting methods for regulated businesses (pawn shops, metal recyclers, gold buyers), in conjunction with the cities of Hampton, Locust Grove, McDonough and Stockbridge, and other participating law enforcement agencies across Georgia and the United States. This system has assisted in the recovery of stolen property and in the apprehension of offenders. The Police Department has expanded into social media, elevating community relations and community participation to an entirely new level. The Police Department uses Facebook, Twitter and YouTube for sharing information that includes BOLOs (Be On the Look Out) and crime videos. At the time of this report, the Police Department was the fourth most "liked" local law enforcement agency in the state of Georgia on Facebook. Many cases have been resolved from tips received via Facebook and/or by way of provided anonymous tip portals. Additionally, the Police Department offers free beneficial online tools and services to the public.
MapNimbus provides a crime mapping tool that is particularly useful for neighborhood watch programs, or otherwise with keeping up with crime in a given area or neighborhood. It also provides the option of e-mail notifications as well as access to sex offender information, where they live and who they are. ReportIt provides the public with a secure online property inventory system. ReportIt can only be accessed by citizens using their own personal user account and password. In the event of theft, fire or disaster, information about valuables can be retrieved for insurance claims and law enforcement purposes. Serial numbers are particularly important for law enforcement. The Police Department also offers a convenient way to obtain a copy of accident reports via BuyCrash.com.
PURCHASING The Henry County Purchasing Department actively directs the County’s procurement operations and contract administration activities within the guidelines of state and local government ordinances. This department develops, coordinates, and evaluates procurement and contract administration practices, providing guidance and support to the Board of Commissioners and all departments under it, as well as elected officials and constitutional officers. Purchasing’s primary goal is to assure all departments receive the best quality products and services at the lowest cost, which in turn saves taxpayers’ dollars. Performing contract administration with excellent standards of ethical conduct and professionalism is also of upmost importance. In 2013, the Henry County Purchasing Department processed 4,631 purchase orders, 76 written bids, and 45 sealed bids, proposals or qualifications. All large purchases must go before the Board of Commissioners for approval before the order can be placed. Henry County can also take advantage of state and federal contract pricing on certain items, such as vehicles and janitorial supplies, which saves both time and expense of the bid process. Regardless of whether it’s through a bid or through a contract, Purchasing is always working to
assure that the County – and therefore the taxpayers – gets the best value for those items. In fact, it is estimated that the Purchasing Department has saved Henry County taxpayers nearly $5 million over the last five years alone through the bidding process. All bids are advertised in the Henry Daily Herald, the County's legal organ, GLGA, TeamGeorgia Marketplace and on-line.
TRANSIT The function of Henry County Transit is to provide safe, reliable, accessible, and affordable transportation to the citizens of Henry County. Henry County Transit provides curb-to-curb service based on a first-come-first-served reservation system MondayFriday, 6 a.m. to 6 p.m. Fares are $4 per person, per stop for citizens under age 60. For citizens over 60 years of age, the fare is $2 per person, per stop. In FY 2013, the Transit Department provided 96,679 trips for citizens attending medical, shopping, education and employment activities. Of those trips, 63,375 were provided for non-elderly citizens and 33,304 for elderly residents. The Transit Department was awarded $547,674 in American Recovery and Reinvestment Act funds from the Federal Transit Administration. Those funds were used for capital improvements which included a lube shop and additional buses for the department. An additional grant with the Federal Transit Administration was used to construct a new Transit facility. This facility houses the day-to-day operations of the department and provides a secure parking area for the buses. The new Transit facility cost approximately $1,200,000 to construct and it opened its doors as the new home of the department in January of 2013.
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FINANCIAL SNAPSHOT
Financial Snapshot Government-wide financial statements are designed to provide readers with a broad overview of Henry County’s finances, in a manner similar to a private sector business. There is one government-wide financial statement presented in this report, the Statement of Net Position (Table 1). This statement presents information on all of the County’s assets and liabilities, with the difference between the two reported as Net Position. The Statement of Activities (Table 2) provides information on the County’s revenues and expenditures and reports the difference between the two as the Change in Net Position. Over time, increases and decreases in Net Position may serve as a useful indicator of whether the financial position of the County is improving or deteriorating.
In the case of Henry County, assets exceeded liabilities by $664,035,317 at the close of the most recent fiscal year. By far, the largest portion of the County’s Net Position (86.9 percent) reflects its investment in capital (e.g. land, buildings, machinery and equipment, and roads) less any related debt used to acquire those assets that is still outstanding. The County uses these assets to provide services to citizens; consequently, these assets are not available for future spending. Although the County’s investment in its capital assets is reported net of related debt, it should be noted that the resources needed to repay this debt must be provided from other sources, since the capital assets themselves cannot be used to liquidate these liabilities.
TABLE 1 • Statement of Net Position as of June 30, 2013 Total Assets Total Liabilities Total Net Position
2013 $784,516,562 $120,481,245 $664,035,317
2012 $785,292,038 $131,052,215 $654,239,823
2011 $779,147,688 $153,611,077 $625,536,611
TABLE 2 • Statement of Activities for the Fiscal Year Ended June 30, 2013 2013 Total Revenues $174,662,760 Total Expenditures $153,103,981 Increase in Net Position $21,558,779 Net Position, Beginning of Year $642,476,538* Net Position, End of Year $664,035,317
2012 $182,792,093 $154,088,881 $28,703,212 $625,536,611 $654,239,823*
2011 $165,701,586 $158,087,272 $ 7,614,314 $617,922,297 $625,536,611
*$11,763,285 difference between 2012 ending and 2013 beginning net position to comply with GASB statement No. 61 as described in 2013 CAFR footnote 18. 22
HENRY COUNTY • GEORGIA
Where Your Property Tax Dollars Go
www.henrycounty-ga.org
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KEY VALUES & FINANCIAL REPORTING
General Fund The General Fund is the chief operating fund of Henry County. At the end of the current fiscal year, unassigned fund balance of the General Fund was $35,501,521 while total fund balance reached $43,503,132. As a measure of the General Fund’s liquidity, it may be useful to compare both unassigned fund balance and total fund balance to total fund expenditures. Unassigned fund balance represents 33.6% of total General Fund expenditures, while total fund balance represents 41.2% of that same amount. Henr y County’s reserved fund balance primarily represents reserved advances to the airport and capital projects. The balance of the County’s General Fund increased by $6,140,748 during the current fiscal year. This was due to both an increase in revenues and a decrease in expenditures over last fiscal year. General Fund revenues increased across the board by $11,527,652 for a total of $123,411,726. The principal component of this increase was in property taxes which resulted from an increase in the millage rate which was approved by the BOC. Although initially budgeted to be higher than the previous fiscal year, General Fund expenditures conversely decreased by $1,089,523 due to a combined effort by all departments to tighten spending on various fronts. The net of these two amounts was offset by a transfer out to the impact fee fund.
GOVERNMENTAL FUND The focus of Henry County’s governmental funds is to provide information on near-term inflows, outflows and balances of spendable resources. Such information is useful in assessing the County’s financing requirements. In particular, unreserved fund balance may serve as a useful measure of a government’s net resources available for spending at the end of the fiscal year. At the end of the current fiscal year, the County’s governmental funds reported combined ending fund balances of $109,486,983, an increase of $8,705,916 (8.6%) over the prior year. This increase is primarily due to excess revenues over expenditures during the Fiscal Year resulting from an increase in property tax revenue, as well as, a slight decrease in overall expenditures. Approximately 32.4% of the ending fund balance ($35,458,260) constitutes unassigned fund balance, which is available for spending at the government’s discretion. An additional $3,563,909 is classified as nonspendable for prepaid expenses, $3,016,357 is classified as assigned for the fiscal year 2014 budget, and the 24
HENRY COUNTY • GEORGIA
remaining fund balance totaling $67,448,457 is classified as restricted to indicate that it is not available for new spending because it has already been committed for Capital Projects ($35,075,085), for citizen welfare ($1,177,312), for federal and state grants ($2,101,730), for law enforcement purposes ($4,851,228), for public safety purposes ($4,869,099), for Housing and Development ($497,567) and for debt service payments ($18,876,436).
CAPITAL ASSETS Henry County’s investment in capital assets for its governmental activities as of June 30, 2013, amounts to $658,254,131 (net of accumulated depreciation). This investment in capital assets includes land, buildings and system improvements, machinery and equipment, park facilities, roads, highways and bridges.
LONG-TERM DEBT At the end of the current fiscal year, Henry County had total bonded debt outstanding of $37,599,907 which is backed by the full faith and credit
of the government. The $37,599,907 (includes $714,907 unamoritized premium) general obligation bond issuances are the combination Series A bonds that were issued in October 2008 for $19,950,000, and the Series B bonds that were issued in March 2009 for $67,290,000. This bond issuance has allowed the County to construct capital buildings and improvements at today’s prices, saving taxpayer’s money, while also enabling citizens to begin enjoying facilities sooner and get traffic relief faster. Henry County’s Special Purpose Local Option Sales Tax (SPLOST) bonds will be paid back during fiscal years 2010, 2011, 2012, 2013 and 2014. Current year interest payments were made in July and January in the amount of $1,562,350 and a principal payment was made in July of $17,645,000. The bonds will be paid off with proceeds from the monthly collection of the 2008 SPLOST revenue. Henry County’s enterprise fund, which is reported under business-type activities, did not incur any debt and did not have debt in prior years. Henry County maintains an “Aa1” issuer rating from Moody’s and an “AA” rating from Standard and Poor’s for general obligation debt. This enables the County to borrow money at a much lower interest rate. State statutes limit the amount of general obligation debt a governmental entity may issue to 10% of its total assessed calculation. The current limitation for Henry County is $464,102,711, which is significantly more than Henry County’s outstanding general obligation debt.
DEBT SERVICE FUND The Debt Service Fund has a total fund balance of $18,876,436 all of which is reserved for payment of debt service. Interest revenue for the current year was $21,243. Total expenditures in the Debt Service Fund were $27,188,223, which included principle retirements of $23,870,927, and interest and fiscal charges of $3,317,296. The net increase in fund balance during the current year in the Debt Service Fund was $243,502. This increase was due to the County transferring funds from the SPLOST III Fund in preparation of making the necessary debt service payments for the bonds issued in 2009.
SPLOST The 2008 Special Purpose Local Option Sales Tax (SPLOST) accounts for the financial resources provided from the 2008 one percent Special Local Option Sales Tax. These resources must be used for various building projects and road improvements throughout the County. At the end of fiscal year 2013, the total fund balance was $30,281,909, a decrease of $157,263 from the prior year. The decrease in fund balance can be attributed to the fact that many of the program’s large projects are being or already have been completed. This trend will continue as the SPLOST III program approaches the latter stages of its six-year term.
ASSETS Governmental activities depreciable capital assets increased by $29,341,319 with transfers from construction in progress to depreciable capital assets accounting for $27,586,936. Depreciation expense of governmental capital assets amounted to $22,814,379. Major projects consisted of the following: • Acquisition of land for right of ways • Acquisition of land for parks • Upgrading of various County fleets • Addition of completed roads • Equipment for parks • Equipment for public safety and public works • Computer servers and equipment • Improvements to airport The largest portion of the increase came from the addition of infrastructure. This also explains the decrease in construction in progress as projects that were previously under construction were completed. Henry County’s SPLOST program is currently building capital and road projects that are at the peak of construction. We are also constructing additional roads, adding turn lanes, traffic signals and many other items that will help with the transportation needs throughout Henry County. Also business-type activities capital assets increased by $2,857,803 offset by depreciation expense of $76,509. The largest element of the capital asset additions was the enhancements and improvements at the airport. www.henrycounty-ga.org
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KEY VALUES & FINANCIAL REPORTING
26
BUDGETARY HIGHLIGHTS
ECONOMIC FACTORS & NEXT YEAR’S BUDGET
During the year, there was an increase of $6,954,042 in appropriations between the original and final amended budget and can be summarized in the paragraphs below. General government activities showed an increase of $560,529. This increase came primarily from the Technology Services Department and from the Tax Assessors Office. Technology Services ($371,631) required additional money for repairs and maintenance, as well as for the purchase of small equipment, and the Tax Assessors Office ($126,925) required additional funds in order to hire more personnel for the greater appraisal and appeal work required. There was also an increase in judicial functions, in the amount of $573,067. This was made up by the Clerk of Superior Court ($105,103), for additional personnel with higher work load, the Public Defender ($71,143), for additional personnel for higher case load, and State Court (197,265), for outside professional fees incurred by bigger cases. Housing and development increased by $115,806 primarily due to salaries and benefits that went up in Planning and Zoning services, as a result of an increase in building activity. Public safety functions saw an increase, totaling $2,585,902.This increase is comprised of various departments including the Police Department ($663,471), primarily for fuel, Support Services ($446,051), for small equipment, the Fire Department ($864,189), for salaries and benefits, and the Sheriff’s Department ($313,754), for automobile parts and fuel. There was an increase in public works services amounting to $979,697, this increase is due to the use of tires, batteries and parts by DOT ($687,080) and for the purchase of small equipment, fuel, and oil by the Maintenance Shop ($166,616). Health and welfare services also increased their budget a total of $1,080,852. This was largely due to the construction of the new transit building and its related equipment which was unbudgeted but is being paid for by grants. Lastly, Culture and recreation went up $1,058,189, due to the addition of unbudgeted programs along with an increase in tires, batteries, parts, and fuel.
Henry County is strategically located along I-75 with a total of seven interchanges within its borders. With a low cost of living, temperate climate and easy access to Atlanta, Henry County provides all the conveniences of a large city, in a small town atmosphere. State and national economic indicators place Henry County in an enviable position as one of the nation’s fastest-growing communities, and in fact, between 2000 and 2006, Henry County was ranked the 2nd fastest-growing county in Georgia, and the 8th fastest-growing county in the nation. Henry County added 66,693 residents during that period. As of July 1, 2013, the county had an estimated population of over 209,000. This continued growth has fueled expansions in the economic sector. Henry County has a rich variety of retail establishments ranging from large stores in outlying shopping centers to small “Mom and Pop” shops that serve the downtown areas. In fact, the Tanger Factory Outlet shopping complex in Locust Grove draws more than two million shoppers annually. The unemployment rate for Henry County on June 30, 2013 was 8.0 %, which is 1.5 % lower than the rate one year ago. The unemployment rate for the State of Georgia at June 30, 2013 was 8.5 %. After years of being higher than the state in the unemployment rate, this year the County has achieved a lesser rate. This decrease in unemployment is a good indicator that the local economy is improving. In addition to the permanent residents and businesses of Henry County, the County hosts major sporting events each year, aiding in the export of our tax burden through our Local and Special Local Option Sales Taxes. One such major event is The National Association of Stock Car Racing (NASCAR) event held each year at the Atlanta Motor Speedway in Hampton. Atlanta Motor Speedway accounts for more than half of metro Atlanta’s total revenue derived from sports and brought in approximately $2.275 billion of the metro area’s $4.5 billion income from sports from years 20002006. On race day, Atlanta Motor Speedway holds in excess of 125,000 fans, making it one of the ten largest cities in Georgia for the day. In Fiscal Year 2001, monthly Local Option Sales Tax collections grew at a rate of 10.92% over 2000. In
HENRY COUNTY • GEORGIA
fiscal year 2002, LOST collections grew by 9.12 % over 2001 collections. In Fiscal Year 2003 monthly collections increased by 7.47 % over 2002. In Fiscal Year 2004 monthly collections increased by 11.42 % over 2003. In Fiscal Year 2005 monthly collections increased by 9.52 % over 2004. In Fiscal Year 2006 monthly collections increased by 14.00 % over 2005. In Fiscal Year 2007 monthly collections increased by 6.11 % over 2006. In fiscal year 2008 monthly collections decreased by 3.29 % from 2007. In fiscal year 2009 monthly collections decreased by 15.3 % from 2008. In fiscal year 2010 monthly collections increased by 6.52 %over 2009. In Fiscal Year 2011 monthly collections decreased by 1.0 % over 2010. In Fiscal Year 2012, monthly collections increased by 7.4 % over 2011. In Fiscal Year 2013, monthly collections increased by 4.45% over 2012. It is anticipated that in FY14’ we will see another increase over 2013 to continue the upward trend in collections. Based on the 2010 census, Henry County has become an Entitlement County. Henry County is currently applying for the yearly allocation of money given to Entitlement Counties. In the past we had to compete against other non-entitlement groups for grants up to $500,000. Now we are no longer required to compete, but we will have to follow rigorous guidelines to make sure we are considered for the yearly allocations. Henry County is currently in its second program year as a participating jurisdiction receiving Community Development Block Grant (CDBG) Program funds. In FY12’, the County received $850,267 and in FY13’ another $971,360. The primary objective of CDBG is to assist the County’s and its municipalities’ low to moderate income persons and households with their housing and community development needs. By the close of the 2012 program year, services and housing assistance had been provided to over 1,870 persons. This grant allows the County to benefit these households without the use of General Funds. Another program that has greatly benefited the citizens of Henry County is the Neighborhood Stabilization Program (NSP). Henry County NSP has been a leader in the NSP program with the Department of Community Affairs for the last two years. Henry County met, within the first three months the program, their goal to use 25% of grant funds within the first 18
months of the program, for the area’s 30 - 50 % median income residents. In three years the NSP program has purchased and sold 197 homes, and with another 16 under contract. This benefits not only the new homeowners who may not have been able to enjoy home ownership, but to the surrounding communities that will find enhanced values from the improvements made to these properties. This will stop falling home values in these areas and continue to enhance property values for years to come. We have had four audits and inspections and have not received any findings with DCA/HUD. Since we have only drawn down less that half of our grant funds and can continue to use those returning funds from sales, sufficient funding remains to continue this worthwhile community program for years to come. The 2008 SPLOST program, also known as SPLOST III, which started on April 1, 2009, is now estimated to collect a total of $173,500,000. This is down from the previous estimate of $180,000,000. This a reduction from the $240,000,000 which was estimated at the beginning of the SPLOST III program. Henry County has used this money to build capital projects including a new fire station, a domestic violence shelter, a new library, and various park projects. The SPLOST III program has also constructed many new roads, intersections, and bridges. Among the most notable of these transportation projects include Eagles Landing Parkway, Rock Quarry Road Bridge, and Fairview Road. After several years of stagnant growth, the health of Henry County’s economy is beginning to improve. The reduction in the unemployment rate along with an increase in the amount of permits and inspections, for both commercial and residential properties, not only shows that the overall economy is improving but more specifically that the construction industry in Henry County is rebounding. Concurrently, the County is hopeful that this trend will continue as many noteworthy commercial projects are slated for construction in the coming fiscal years. During 2013 and going forward, Henry County will continue to do its part in facilitating this growth through the efficient use of grant and tax revenue to construct capital and road projects that will aid in the attraction of new businesses, as well as, increase the quality of life for the County as a whole. www.henrycounty-ga.org
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KEY VALUES & FINANCIAL REPORTING
Financial Reporting The key values of the County’s financial management include fiscal integrity, prudence, planning, accountability, honesty and openness. Specifically, it is the County’s intent to maximize the level of public goods and services while minimizing the level of debt. If effectively used, the County’s budget serves as the primary tool in allocating financial resources to programs and services. Specifically, the budget can serve as a policy making tool, a management tool, a financial tool, and a communication tool. For accountability purposes, the County operates in a “fish bowl.” That is, decisions are made in an open public forum ensuring the County is accountable to its citizens while pursuing goals of efficiency and effectiveness. Henry County’s financial statements have been audited by Mauldin & Jenkins, Certified Public Accountants, LLC. The audit was conducted in accordance with auditing standards generally accepted in the United States of America and Government Auditing Standards issued by the Comptroller General of the United States. Those standards require that the audit be planned and performed to obtain reasonable
assurance about whether the financial statements are free of material misstatement, whether caused by error, fraudulent financial reporting or misappropriation of assets. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. Accordingly, the audit was designed to obtain reasonable, rather than absolute, assurance about the financial statements. This financial report is designed to provide a general overview of Henry County’s finances. Information in this report is taken from the 2012-2013 Comprehensive Annual Financial Report, which is available for public review on the Finance Department page of the Henry County Board of Commissioners’ website at www.henrycounty-ga.org.
You may access this document, along with the Comprehensive Annual Financial Report, which contains a detailed financial breakdown, on the Henry County website at www.henrycounty-ga.org/Finance
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HENRY COUNTY • GEORGIA
How Henry County’s Fund Balance Has Changed: FY 2001-2013
www.henrycounty-ga.org
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GOVERNMENT POLICIES
Financial Management Henry County has a responsibility to carefully account for public funds, to manage County finances wisely, and to plan for the provision of public services. CASH MANAGEMENT Cash management is complex because, unlike private businesses, Henry County has a broader range of responsibilities. The County is expected to address the community’s social issues, protect the citizens’ interests, provide public safety, and enforce laws and regulations. Henry County has contracted with SunTrust Bank to provide banking services and with Regions Bank to provide investment services. All operating funds of the County are carried in interest-bearing checking accounts, which bear interest at a special rate for nonprofit and government entities. The County does not currently incur financial fees or charges for banking services. In relation to our prudent financial management, Henry County maintains an Aa1 credit rating from Moody’s Investor Services and an “AA” rating from Standard and Poors. This rating produces significant interest savings and is solid evidence of our financial strength and stability.
The Board of Commissioners is required to hold public hearings on the proposed budget and to adopt a final budget by no later than May 31, 30 days prior to, Henry County’s fiscal year end. The appropriated budget is prepared by fund and department. The County Manager may make transfers of appropriations within a department. However, transfers of appropriations between departments and the appropriation of additional funds require the special approval of the Board of Commissioners.
COUNTY FUNDS
This report includes all funds of the County, as well as those component units that have been determined to meet the criteria for inclusion in the County’s reporting entity. Henry County Water Authority, the Henry County Health Department and the Henry County Library System are all legally separate entities that are component units of the county due to the significance of their operational or financial relationships with the BUDGET PROCESS The annual budget serves as the foundation for county. Financial information for these component units Henry County’s financial planning and control. All is reported separately from the financial information departments and agencies of Henry County are required presented for the primary government itself. Financial to submit requests for appropriation to the County information on these three entities can be found in the Manager in March each year. The County Manager uses Notes to the Financial Statement in the 2013 Henry these requests as the starting point for developing a County Comprehensive Annual Financial Report at proposed budget. The County Manager then presents www.henrycounty-ga.org/Finance. this proposed budget to the Board of Commissioners for review during the month of April.
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HENRY COUNTY • GEORGIA
Glossary of Terms Appropriations: An authorization granted by the Board of Commissioners to spend revenue for purposes specified in the appropriation act. Assets: Items of ownership. Assets can include cash, stock, land, buildings, machinery, furniture, and other equipment. There are several categories of Assets: • Capital Assets: Assets of a long-term character (beyond the current year) that are intended to continue to be held or used, such as land, buildings, vehicles, machinery, furniture and other equipment. • Net Position: The difference between (a) assets and deferred outflows of resouces and (b) liabilities and deferred inflows of resources. • Restricted Assets: Assets that may not be used for normal operating purposes because of the requirements of regulatory authorities, provisions in bond contracts, or other legal agreements, but do not have to be accounted for in a separate fund. • Unrestricted Assets: Funds established to account for assets or resources that may be utilized at the discretion of the Board of Commissioners.
General Fund: A fund used to account for the ordinary operations of the County government that are financed from taxes and other general revenue. Liabilities: Future spending of revenue as a result of past transactions and other past events. Liabilities are reported on a balance sheet and are divided into two categories: • Current Liabilities: These liabilities are reasonably expected to be liquidated within a year. They usually include payables such as wages, accounts, taxes, and accounts payable, unearned revenue when adjusting entries, portions of long-term bonds to be paid this year, short-term obligations, and others. • Long-term Liabilities: These liabilities are reasonably expected not to be liquidated within a year. They usually include long-term bonds, notes payable, long-term leases, pension obligations, and long-term product warranties. In these liabilities, the County has to pay after a fixed period of time, usually longer than a year.
Bonds: A certificate of debt issued by the County Revenue: Financial resources other than from interfund government guaranteeing payment of the original transfers and debt issue proceeds. Henry County investment plus interest by a specified future date. receives Revenue through property taxes, sales and other taxes, licenses and permits, grants, fines and Budget: A plan of financial operation using an estimate forfeitures, charges for service, administration fees, of proposed expenditures for a given period of time (a investment income and miscellaneous sources. fiscal year) and an estimate of proposed revenue to finance the expenditures. Unassigned Fund Balance: The residual classification for the government’s general fund and includes all Expenditures: Government purchases which can be spendable amounts not contained in other financed by revenue and/or government borrowing, ie. classifications. In other funds, unassigned fund balance bonds, tax anticipation notes, etc. is used only to report a deficit balance. Fund Balance: The portion of fund revenue over expenditures available for use. www.henrycounty-ga.org
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Henry County Board of Commissioners 140 Henry Parkway • McDonough, GA 30253 (770) 288-6000 • www.henrycounty-ga.org Design by Henry County Communications