Sarasota News Leader
December 28, 2012
Page 83
COUNTY ISSUES COMPREHENSIVE ANNUAL FINANCIAL REPORT
Karen E. Rushing, clerk of the 12th Judicial
Circuit Court and county comptroller, has
published the Sarasota County Comprehensive Annual Financial Report (CAFR) for the
fiscal year that ended Sept. 30. The report may
be found online at the clerk���s website, www.
SarasotaClerk.com, keyword search ���CAFR,���
the county has announced.
several of its outstanding debt issues at lower
interest rates, resulting in net present value
savings of $6,115,837,��� the release points out.
The bonds refunded were the Sales Tax Revenue Bonds, Capital Improvement Refunding
Revenue Bonds and Utility System Revenue
Bonds, the release says.
The county���s investment portfolio has earned
The report can be downloaded in PDF format an average return of 2.63 percent over the past
three fiscal years, the release adds. The investor read online in eBook reader format.
ment policy was established by ordinance in
���The report provides a detailed analysis of the 1989; it stresses the safety of capital as the top
county���s financial condition at the time,��� said priority, the release says.
Sarasota County Director of Finance Peter
Ramsden in a news release. ���What the report The Government Finance Officers Association
shows is that Sarasota County government is of the United States and Canada awarded a
Certificate of Achievement for Excellence in
on solid financial ground with a good credit
Financial Reporting to Sarasota County for its
rating, while continuing to recover from the
Comprehensive Annual Financial Report for
recession.���
Fiscal Year 2011, the 28th consecutive year
the county received this
Chapter 218.32 of the
award, the release points
Florida Statutes stipuout.
lates that each local government entity that is reTo be awarded that certifquired to provide for an
icate, a government unit
audit in accordance with
must publish an easily
Chapter 218.39 must subreadable and efficiently
mit an annual financial
organized Comprehenreport with the audit resive Annual Financial
port no later than nine
Report whose contents
months after the end of
conform to program stanthe fiscal year, the news
dards, the news release
release notes.
notes.
���In keeping with Sarasota County���s established
debt policy, the county
took advantage of favorable conditions in the
debt market by refunding
Karen Rushing/Contributed
���Such reports must satisfy both generally accepted accounting principles
and applicable legal requirements,��� the release
adds.
