Sussex County Finance Director Gina Jennings presented the county council with a comprehensive annual financial report for the 2014 fiscal year at this week’s council meeting.
The 100-page report was broken down into four sections — introductory, finance, statistical and single-audit supplement.
In the introduction, the County’s population is counted as 209,704, residing in 48 percent of the state’s total land area.
Jennings said the County’s revenues for the fiscal year were at approximately $63 million, with expenditures at approximately $59 million. The fiscal year ended with the County having $4 million in revenue over expenditures.
“We had a wonderful year where we budgeted very conservatively. … We saw our revenues 16.4 percent over last year, which is over $8 million dollars. The largest increase was in related transfer tax, which was $3.5 million. We had an increase in grants of $1.4 million,” said Jennings.
During the 2014 fiscal year, the County paid down some of its long-term expenses.
The report states, “Governmental activities increased net position by $12.7 million during fiscal year 2014. This represents 67.5 percent of the total increase in net position for the year. Governmental activities include the General fund and Capital Projects fund,” states the report, noting that general revenues totaled $37.2 million for governmental activities.
Jennings said the County received a clean opinion from independent auditor DBO, out of Wilmington, Del.
“This opinion states for itself that we present everything fairly in all material aspects to all funds in our financial statements,” said Jennings. “It was a very successful audit.”
The County has received the Certificate of Achievement for Excellence in Financial Reporting award from the Government Finance Officers Association of the United States & Canada for the past 12 years. Jennings said she is hopeful the County will receive it again for the 2014 report.
Council President Michael Vincent commended the finance department for their exemplary work.
To view the full report, visit www.sussexcountyde.gov/sites/default/files/packets/SCC.Public.Packet.012....