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

Home Browse Search

11/09/98 hiON 16:1~ FAX 5032489085 PG&E LLP PD~ .a-NNUAL DISCLOSURE INFORMATION In conformunce with SEC Rule 1 Sc?-1 Z, as a~rtended (17 CFR Part Z40, ~ 240.1 Se2-1 ?) {the "Rule'), tlte Counry will provide annually the rype of information presented in the tnbles in this scclion to all NRMSIRs and SIDs, if any. (See rippendir C, "Continuing Disclosure Agreement " herein.) BASIS OF ACCOUNTING Modified accrua( accounting is utilized for the General, Special Revenue, Capital Project and Debt Service Funds. All other fi~nds utilize the accrual basis of accaunting. The County's accounting practices conform to generally sccept~d accounting principals (GAAP), and with the standards of financial reporting developed by the Govemmant Finance Officers Associ~tion of the United Staces and Canada and the Govemment Accounting Standards Board. For the years 1986 through 1998 Marion County was awarded tlie Certificate of Achievement for Excclienc~ in Financial Reponing by the Government Finance Officers Association of the United States and Canada. FISCAL YEAR July t through Junc 30. AUDITS In accordance with Oregon Munieipal Audit Law (ORS 297.405-555) an audit is conducted at the end of each fiscal year by independent certifed public accountants selected by approval of the Board Chair and the County Commissioners. This requirement has been complied wi[h and the fmancial statemenu have received an "unqualified opinion" from the at~ditors. Such an opinion indicaces there was no limitation on the scope of the auditor's examination and the financial statements were prepared in accordance with generally aeccpted accounting principles, The County audit for fiscal yzars 1994-95 through 1996-97 were performed by Kennrth Kuhns & Co., certified public accountants, Salem, Oregon. The auditors did not review this statement and offer no opinion regarding this Official Statement. Real Market valuation (1997-98) (1) Assessed Ysluation (1997-98) (1) Estimaced 1995 Population Debt Information (2) Net Direct Debc (Includes this issue) Net Overlappin~ Debt Flnancial Information $13,~93,496,53Q $10.630,(}94,769 iF a, 3, odo Ma~..on ~o -C~S-r~ ~-~ o~ (~~ (°$ l.( ~1~¢.~d w-p~y~ T~h~e z~ ~ f~ OOJ 21.