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8 <br /> • Significant Issues Discussed with Management <br /> o There were no significant issues discurssed with management related to <br /> business conditions, plans, or strategies that may have affected the risk of <br /> material misstatement of the financial statements. <br /> • Information in Documents Containing Audited Financial Statements <br /> o Our responsibility for other information in documents containing the County's <br /> comprehensive annual financial report and our report thereon does not extend <br /> beyond the information identified in our report. If the County intends to publish <br /> or otherwise reproduce the financial statements and mae reference to our firm, <br /> we must be provided with printers' proof for our review and approval before <br /> printing. The County must also provide us with a copy of the financial <br /> reproduced for material for our approval before it is distributed. <br /> • Auditor Independence <br /> o In accordance with AICPA professional standards, M&J is independent with <br /> regard to the County and its financial reporting process <br /> o There were no fees paid to M&J for management advisory services during the <br /> fiscal year 2016 that may affect our independence as auditors. <br /> General Fund Fund Balance Ratio to Expenditures (graph) <br /> Trend Analysis of Property and Sales Tax Revenue per capita (graph) <br /> Assessed Values vs Tax Rates (graph) <br /> General Fund Budget to Actual Results —Fiscal Year 2016 (graph) <br /> • General Fund revenues were 1.2% more than the amended budgeted amount. The <br /> actual revenue was over budget due to increased actual sales tax collections from the <br /> State. <br /> • Expenditures for many functional areas were less than budget as the County generated <br /> savings of$10.1 million (4.9%) from the operating budget. Several departments came <br /> in under budget due to personnel vacancies and efforts to spend conservatively. <br /> • Budgeted use of fund balance was not needed to the extent anticipated, as actual use <br /> of reserves was only 4.5% of the final budgeted use. <br /> • General Fund significant transfers were $5,167,984 to School Capital Improvement <br /> Fund; $703,227 to County Capital Improvement Fund; and $1,718,018 to Solid Waste <br /> Landfill Fund. <br /> Enterprise Results (graph) <br /> James Bence, Mauldin and Jenkins Audit Services Partner, reviewed the following <br /> portion of the PowerPoint presentation: <br /> Comments, Recommendations, and Other Issues <br /> Material Weaknesses Reported <br /> 2016-001 Expenditure and Expense Recognition <br />