Financial- Standard and Poor's (1-2 Files)

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5. Indebtedness Our review disclosed no conditions which we considered to be matters of noncompliance with th~ statutory and charter requirements ~elating to debt 6. Budget Our ~eview disdosed no c~nditions which we consideted to be n~a~s of noncx~mpliance with the statutory requirements relating to the preparation, adoption. and euecution ~of the annual budget for fiscal years 1992 and 1993. 7. Insurance and Fdelity Bonds Our review disclosed no conditions which we consid~ed to be matte~s of nonc~mpliance with the statutory requirements relaang to insurance and fidelity bo~dng. Since we are not experts in insurance matters, we are not able to comment on the adequ~y of fhe insurance policies covering County owned property at June 30, 1992. 8. Programs funded from Outside Sources and related finanaal re.nortiny reauirements In connection with our examination of the financial statements, w~e reviewed and tested the County's procedures and records relating to programs funded by other go~vemmental agenaes, induding financial reporting requirements thereof. Based on our testing, we are, in general, satisfied as to the propriety of accounting for programs funded from outside sourc~s and 1he reporting ihereof. Our comments resulting from our review and testing procedures are summariZed in separate reports on the examination of finanaat stat~n~ts and compliance witli Iaws and regulations in accadance with OMB Circular A-128 and the Single Audit Act of 1984. 9. Investrnents We have reviewed and tested the County's compliance with ORS 294.035 regarding the investrnent of surplus public funds. Our review disclosed no conditians which v~ considered to be matters of noncompliance. 10. Pubtic Contracts and Purchasina We have reviewed and tested the County's compliance with ORS 279 regarding public contracts and pu~chasing. Our review disclosed no conditions which we considered to be matters of noncompliance. - 119 -