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Legislature Accepts 2016 Financial Report

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Legislature Accepts 2016 Financial Report

Tuesday, July 18, 2017

The Legislature, by unanimous vote, accepted the audited Tompkins County Financial Report for the 2016 fiscal year.  Finance Director Rick Snyder delivered a detailed report to the Legislature, noting that the County received an “unmodified opinion” on the basic financial statements and Schedule of Expenditures of Federal Awards for the year ended December 31, 2016,  and that the Report identified “no material instances of noncompliance and no material internal control weaknesses” at the financial statement level.  The County’s Undesignated Fund Balance increased by $5,630,000 during 2016. 

The 2016 Financial Report will be posted  on the County website at www.tompkinscountyny.gov/ctyadmin/Budget/Financialstatements.

Finance Director Snyder also reported on the latest 2017 County Sales Tax receipts, noting that the County portion of sales tax distributions for June was up by 8.46%, compared to June of last year, with second-quarter receipts up by 3.33%.  For the year to date, Sales Tax receipts are up 6.57%, compared to this time in 2016.