Delaware County Controller Joanne Phillips issued the Delaware County 2018 Comprehensive Annual Financial Report (CAFR) on June 25, 2019.
The CAFR is a thorough and detailed presentation of the County’s financial condition and reports the County’s activities and fund balances for the year. The CAFR is a prepared to comply with accounting requirements prescribed by the Governmental Accounting Standards Board (GASB). Delaware County’s 2018 CAFR was prepared by the Controller's Office and audited by the independent certified public accounting firm Baker Tilly Virchow Krause, LLP, whose opinion accompanies the financial statements contained in the report.
In addition to the County’s financial statements and information about governmental activities of the County, the CAFR also provides statistics about the County’s organization, demographics, economic information, and historical data about the County’s financial position. Because of their operational and financial relationships to the County, the CAFR also includes condensed financial statements for the County’s Solid Waste Authority, Economic Oversight Board, Redevelopment Authority and Chester Waterfront Industrial Development Authority.
“I thank my staff., the Budget Department, and the hardworking individuals throughout County government that helped gather the necessary information and data to prepare the CAFR,” said Delaware County Controller Joanne Phillips. “The full report is available online, providing our residents with responsible and transparent financial reporting.” Beginning last year, the Controller has made CAFRs dating back to 2014 available on the County’s website.
The full 2018 CAFR can be found here: www.delcopa.gov/controller/pdf/2018CAFR.pdf
Earlier this year the Delaware County Controller’s Office was awarded a “Certificate of Achievement for Excellence in Financial Reporting” by the Government Finance Officers Association of the United States and Canada (GFOA) for its completion on the 2017 CAFR. The GFOA Certificate of Achievement is the highest form of recognition in the area of governmental accounting and finance reporting, and its attainment represents a significant accomplishment by a government and its management. The GFOA commended the Controller’s Office for having satisfied the high standards of the program and noted their hopes that Delaware County’s example will encourage others in their efforts to achieve and maintain an appropriate standard of excellence in financial reporting.
The CAFR is judged by an impartial panel to meet the high standards of the program, which include demonstrating a constructive “spirit of full disclosure” to clearly communicate its financial story and motivate potential users and user groups to read the CAFR. Delaware County earned the GFOA accolade in 1983, 1985 and from 1994-2017, marking 26 total awards.