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Harford County earns clean audit, ends FY 2020 with $27M surplus
Listen to this articleHarford County government ended Fiscal Year 2020 with a clean opinion from external auditors and a $27.2 million surplus that will help offset lost revenue and added expenses from the COVID-19 pandemic.
Technically known as the Unassigned General Fund Balance, the $27.2 million surplus for the year ended on June 30, 2020 is an increase of $7 million over the prior fiscal year.
Harford County also earned a clean opinion from external auditors for its FY 2020 comprehensive annual financial report, or CAFR. A clean audit means that the financial statements are accurate and were presented in accordance with generally accepted accounting principles and the requirements of the Government Standards Accounting Board.
Required by state and local laws, the CAFR is an overall assessment of the county’s fiscal performance, including revenues, expenses, debt, investment performance and pensions. Harford County’s audit was performed by Clifton Larsen Allen and the FY 2020 CAFR is published on the county website at https://www.harfordcountymd.gov/DocumentCenter/View/16366/June-30-2020-CAFR-PDF.
