2005 CAFR Part 1 - Laserfiche WebLink

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speculative residential use;and,by creating an additional exemption of 20%of a property's assessed value for properties eligible for the home exemption. Additionally,major changes were made to the agricultural sections of the tax code to clarify definitions,include homesite valuation and modify the dedication program. For the Future Public Safety—Expansion and upgrade of Fire and Police facilities around the island are being planned and site selection is in process. Public Works —The County is working on developing a West Hawaii Civic Center. This facility will improve access to government for the Kona residents. Additionally,the County is working on several major road projects to enhance traffic in West Hawaii. Environmental Management—As the Hilo landfill approaches full capacity,the County will be looking at solid waste technology alternatives to divert waste from the Hilo landfill to enable the County to close that facility. It is anticipated that a request for proposals will be issued in the next year. The County is also working closely with the State Department of Health to extend the life of the Hilo landfill. Health,Education and Welfare—The Office of Aging is very excited about its plans to establish an Aging and Disability Resource Center,a one-stop shop for services for our seniors and disabled population. The federal government's Centers for Medicare and Medicaid Services and Administration on Aging have approved the County Office of Aging's grant application for the establishment of Aging and Disability Resource Centers in the State of Hawai'i. The one- stop shop on Hawai'i Island will provide a single,coordinated system of information and access for all persons seeking long-term support. The estimated opening date is in early 2007. Other Financial Information Internal Control The management of the County is responsible for establishing and maintaining an internal control structure designed to ensure that the assets of the County are protected from loss,theft or misuse and to ensure that adequate accounting data are compiled to allow for preparation of financial statements in conformity with generally accepted accounting principles. The internal control structure is designed to provide reasonable,but not absolute,assurance that these objectives are met. The concept of reasonable assurance recognizes that(1)the cost of a control should not exceed the benefits likely to be derived; and(2)the valuation of costs and benefits requires estimates and judgments by management. Budgetary Control The County maintains budgetary controls to ensure that legal provisions of the annual budget are complied with and that expenditures do not exceed budgeted amounts. -4-