News Releases

Commissioners Approve County Financial Report Audit

Dec 19, 2017

FAYETTEVILLEThe Cumberland County Board of Commissioners unanimously accepted the audited Comprehensive Annual Financial Report (CAFR) for Fiscal Year 2017 at their regular meeting Monday. The CAFR received an unmodified “clean opinion,” which means it represents the highest level of assurance.

 

Cumberland County Finance Director Vicki Evans and April Adams, the Engagement Partner with the independent certified public accounting firm Cherry Bekaert LLP, presented the audit to the commissioners. The County received four unmodified, or “clean opinions,” from the independent auditor, which represent the highest level of assurance. The general fund’s revenue and other financing sources in fiscal year 2017 exceeded expenditures by $9.59 million, resulting in a net gain for the County. The general fund increased by $5.7 million and the school fund increased by $3.9 million. The ending fund balance was $123,724,329.

 

“A tremendous amount of staff time goes into providing information for the audit and completing the Comprehensive Annual Financial Report each fiscal year,” Evans said. “I would encourage citizens to look at the report if they are interested in learning more about the County and its finances.”

 

The audit report is divided into five sections – Introductory, Financial, Statistical, Compliance and Continuing Disclosure Information. The audit can be viewed online at co.cumberland.nc.us/finance

 

The Cumberland County Finance Department has received the Certificate of Achievement for Excellence in Financial Reporting for CAFR for 27 consecutive years through fiscal year 2016.