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Lehigh County (Pa.) 2011 Financial Statements

Lehigh County (Pa.) 2011 Financial Statements

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Published by Scott Ott
Financial Statements and Independent Auditor's Report
Financial Statements and Independent Auditor's Report

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Published by: Scott Ott on Oct 18, 2012
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County of Lehigh, Pennsylvania December 31, 2011
 Financial Statements and Independent Auditors’ Report
 
County of LehighYear Ended December 31, 2011TABLE OF CONTENTS
PageIndependent Auditors’ Report on Basic Financial Statements
…………………………………..……………………..1
Management’s Discussion and Analysis
……………….…………………………………………………………………3
Basic Financial Statements
Government-wide Financial StatementsStatement of Net Assets………………………………………………………………………………………….…...11Statement of Activities……………………………………………………………………………………………..…12Fund Financial StatementsBalance Sheet – Governmental Funds………………….…………………………………………….……..…….…13Reconciliation of Balance Sheet of Governmental Funds to the Statement of Net Assets…………….……….…...14Statement of Revenues, Expenditures, and Changes in Fund Balances – Governmental Funds……………..……..15Reconciliation of the Statement of Revenues, Expenditures and Changes inFund Balances of Governmental Funds to the Statement of Activities………………………………………....16Statement of Net Assets (Deficit) – Proprietary Funds……………………..……………………………..………..17Statement of Revenues, Expenses and Changes in Fund Net Assets (Deficit) – Proprietary Funds…….……….....18Statement of Cash Flows – Proprietary Funds……………………………………………………………….……..19Statement of Fiduciary Net Assets – Fiduciary Funds……………………………………………………...…..…..20Statement of Changes in Fiduciary Net Assets……………………………………………………………….…….21
Notes to Financial Statements
1
 
Summary of Significant Accounting Policies………….……………………………………….….…...222
 
Deposit and Investment Risk….……………………………………….………………….……..…..….313
 
Long-term Obligations……………………………………………….…………………………..….….334
 
Interfund Transfers…………………...……………………………..……………………………….…355
 
Capital Assets……………………………………………………….………………...………….….…366
 
Employees’ Retirement Fund……………………………………..….……………………….…….….377
 
Postemployment Benefits Other Than Retirement Fund……………………………………………….398
 
Risk Management…………………………………………………….………………………….……..419
 
Restricted Assets……………………………………………………………………………………….4210
 
Fund Balance / Net Assets…………….…………..…………………...……………………………….4311
 
Construction Commitments…………………………………………………………………………….4412
 
Operating Lease…………………………………………………………………………………...……4413
 
Stabilization Fund………………………………………………………………………………………4414
 
Litigation…….…..……………………………………….…………………………………………….44
Required Supplemental Information
Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget (Cash Basis) and Actual –General Fund………………………………………………………………………….……………………..…...…….45Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget (Cash Basis) and Actual –Mental Health Fund……………..…………………………………………………………………………....………..47Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget (Cash Basis) and Actual –Health Choices Fund……………………………………………………………………………………..…………….49Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget (Cash Basis) and Actual –Area Agency on Aging Fund….…………………………………………………………………...….………...……..51
 
Zelenko
ke
AxelrodLLC
INDEPENDENTAUDITOR'SREPORTBoard
of
CommissionersCounty
of
LehighAllentown,Pennsylvania
We
have audited
the
accompanying
financialstatements
of
the
governmentalactivities,
the
business-typeactivities,
eachmajor fund, and the aggregate
remaining
fundinformation of
the
County
of
Lehigh
as of and for
theyear
endedDecember
31
,2011,
which
collectively comprise
theCounty's
basic
financial
statements
as
listedin the
tiable
of
contents.
Thesefinancial
statements
are
the responsibility
oftheCounty
of
Lehigh's management.Ourresponsibility
is
to expressopinions on these financialstatementsbased on our audit.Weconducted our
audit
inaccordancewith auditingstandardsgenerally
accepted
in
the
United States
of
America,
and
the
standards applicable
to
financial
audits
contained
in
Government
Auditing
Standards,issued
by
theComptroller
General of
the
United
States. Thosestandards
require
that
we
plan
and
performthe audit to
obtainreasonableassurance about
whether
the
financial
statements
are
free
of
material misstatement. An audit includesexamining,on
a
test
basis,
evidence
supporting theamounts and
disclosures
inthe
financial
statements.
An
audit
also
includes
assessing theaccountingprinciplesused
and
significantestimates made by
management, aswellasevaluating
the overallfinancial statement
presentation,
We
believe
that our audit
provides
a
reasonablebasisfor our opinions.
In our opinion,
the
financial statements referred
to
abovepresent
fairly, in all
material respects,
the
respective
financial
position
of thegovernmentalactivities,the
business-type
activities,each major fund,
and
the
aggregateremaining
fund
information
of
the
County
of
Lehigh,
as
of
December
31,2011,
and
the
respective changes
in
financialpositionand cash flows
thereof
fortheyearthen endedin conformity
with accounting
principles generallyacceDted
in
theUnited Statesof America.
As
described
in
Note
1to
the
financial statements,
in2011
the
County
of
Lehigh adopted
the
provisionsof
GovernmentalAccounting
Standard
Board's
StatementNo. 54,
"FundBalance
Repofting
and Govemmental
Fund
Type
Definition,"
and No.
59,
"Financial
lnstruments
Omnibus."ln accordance
with
Govemment
Auditing
Standards,
we
have
also
issued
our
report
dated
June
27
,2012,
on
our
considerationof
the
County
of
Lehigh's
internal
control
over
financial reporting
and
on our tests of
itscompliance
with certainprovisions
of
laws, regulations, contracts,andgrantagreementsandother
matters.
The
purpose
of
that report
is
to describe
the
scope of our testing
of
internal control
overfinancial reporting
and
compliance
and
the
results
of
that
testing,
andnot
to
provide
an
opinion
on
internal control
over
financial
reporting
or
on
compliance.
That
report
is an
integralpart
ofan
audit
performed
in
accordance
with
Govemment Auditing
Sfandardsand should be
considered
in
assessinq
the
resultsof ouraudit.
HatisbtryLehighValW Philailelphia
Pittsbtttgh
830
SirThorn^s
Court, Suite
100
1.701
West
HsmiLton
Street
2370 York
Rosd,
S'/ite
A
5
3800
McKnikht
E.
Dioe,
Suite
3805
Haftisburg,
PA
17109
Allento|tn,
P
A
1810L-1c4'3
Iamison
PA
78929Pittsbltrgh,
PA15237
717.561.9200
Fax
717.561.9202
6'10.87'1.5077
Fax
717.567.9202
215.918.2277
Far
215.918.2302
412.367.7102
Fot
412.367.7103

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