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� <br /> 1 a. Presentation of Comprehensive Annual Financial Report FYE 6/30/2010 <br /> 2 The Board received the Comprehensive Annual Financial Report for the fiscal year <br /> 3 ended June 30, 2010. <br /> 4 <br /> 5 Spokesperson from Martin and Starnes made a PowerPoint presentation. She said <br /> 6 that there was cooperation from the staff with the audit. <br /> 7 <br /> 8 Orange County <br /> 9 2010 Audited Financial Statements <br /> 10 <br /> 11 Audit Highlights <br /> 12 - Unqualified opinion <br /> 13 - No findings or questioned costs <br /> 14 <br /> 15 Audit Process <br /> 16 - Planning and risk assessment <br /> 17 - Interim procedures <br /> 18 - Final procedures <br /> 19 - Year-round process <br /> 20 <br /> 21 Budget vs. Actual General Fund <br /> 22 <br /> Budget Actual Variance <br /> Revenues $177,578,024 $177,671,063 $93,039 <br /> Expenditures 174,825,408 167,852,563 6,972,845 <br /> Other financing (2,752,616) (8,537,393) (5,784,777) <br /> sources (uses) <br /> Change in fund - $1,281,107 $1,281,107 <br /> balance <br /> 23 <br /> 24 Tax Collection Percentages <br /> 25 2009 — 98.75% <br /> 26 2010 — 98.63% <br /> 27 <br /> 28 Fund Balance <br /> 29 Serves as a measure of the County's financial resources available. <br /> 30 - Assets — liabilities = fund balance <br /> 31 3 Classifications: <br /> 32 - Reserved <br /> 33 - Unreserved designated (Available) <br /> 34 - Unreserved undesignated (Available) <br /> 35 <br /> 36 Fund Balance (General Fund) <br /> Fiscal Yes 2009 Fiscal Year 2010 Change <br /> Reserved $9,195,023 9,942,748 747,725 <br /> Unreserved, 1,988,442 401,673 (1,586,769) <br /> designated <br /> Unreserved, 18,977,470 21,097,621 2,120,151 <br /> undesignated <br />