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Posted on: June 29, 2018

COUNTY RECEIVES “HIGHEST LEVEL” IN OUTSIDE AUDIT

Image of Commissioners Court Seal

   Parker County Commissioners Court received the highest opinion an outside auditing agency can give, otherwise known as a “clean audit”, at their Friday, June 29, 2018 special meeting.

   Jackie Gonzalez with the firm Weaver and Tidwell, presented the court with their findings expressing appreciation to County Auditor Mike Rhoten and his staff for their help in conducting the audit.

   “We are presenting an unmodified opinion which is the highest level of assurance that we as an accounting firm can give you,” Gonzalez said.

   Rhoten expressed his satisfaction with the review.

   “This audit exemplifies the AA+ bond rating that Fitch has given Parker County,” Rhoten said. “There is no other governmental entity in Parker County that has an AA+ rating and that includes your schools, the cities, the college and the hospital. Even the City of Fort Worth does not have an AA+.”

   Savings created by the AA+ bond rating has saved the county $600,000 over the term of the bond, according to Rhoten.

   “In the private sector profitability is the bottom line and in the governmental sector accountability is the bottom line,” Rhoten said.

   County Judge Mark Riley thanked Rhoten and his staff for their work and said the county’s balanced budgets and transparency has contributed greatly to the excellent audit reports and bond rating.

   “When I took office in 1999, the county had an A- bond rating,” Riley said. “For it to be AA+ for the last few years shows that every year has been an improvement. We appreciate the work that you and all your staff do to make it better for the taxpayers on the accountability side.”

   The county ended the fiscal year with a surplus in revenues of $2.8 million over what was budgeted. Expenditures, according to the audit, was $2 million less than what was budgeted.   

In other Commissioners Court action:

  • Commissioners heard budget presentations from all local libraries, Freedom House, Meals on Wheels, Abandoned Cemetery Association, Child Welfare Board, Pecan Valley and Sanctified Hope. Funding decisions regarding these agencies will be made later in the County’s budget process.
  • Authorized an agreement with the Texas Highway Commission for Parker County to receive an early pay-off, estimated to be in the amount of over $5 million, for the pass-through financing agreement that the County had with the Texas Highway Commission regarding the construction of the interchange at Ric Williamson Memorial Highway and I-20.                                                                                                                                                                                                ###

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