San Mateo County's revenues, across government, increased by $22 million during the 2021-22 fiscal year, according to the Annual Comprehensive Financial Report, while expenses decreased by $192 million, primarily due to to a reduction in expenses related to COVID-19 for 156 million dollars.
The Annual Comprehensive Financial Report ?ACFR, for its acronym in English? includes audited financial statements of county operations for the past fiscal year, noting that county revenues increased 1 percent to $2.49 billion, while spending fell 9 percent to $1,000. 99 billion.
And it is that, the costs related to COVID-19 last year? Fiscal year 2020-21? They were higher than this year because they included, among other expenses, hotel/residential building acquisition costs, labor, and the Great Plates program that provided community meals to residents in need.
“It is important to us to provide taxpayers and residents with transparent and useful information about the County's financial activities. These two annual reports help us do that,” said comptroller Juan Raigoza.
The more than 200-page detailed ACFR, now available to the general public, includes, in addition to the audited financial statements, a letter summarizing the county's key financial policies, economic and financial outlook, and long-term financial planning. , among other required analyses, notes and statistical information.
The 16-page Financial Highlights report includes summary financial statements, multi-year trend charts, pie charts, glossaries of financial terms, and provides brief explanations of the county's financial activities.
Raigoza said residents can be sure that the County's annual financial reports are complete and meet financial reporting requirements, as they consistently earn a Certificate of Achievement for Excellence in Financial Reporting from the Los Angeles Government Finance Officers Association. United States and Canada ?GFOA?.
County ACFR, Financial Highlights (PAFR), Property Tax Highlights, and other reports are available at https://controller.smcgov.org/.
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