2008 CAFR Part 1 - Laserfiche WebLink

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{ increase recycling in the County, including green waste and scrap metal,landfill diversion increased from 22.7 percent to 29.2 percent. 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 will begin construction on a West Hawaii Civic Center,which is intended to improve access to government for the Kona residents. The Center is scheduled to be completed in December 2010. Additionally,the County is working on several major road projects to enhance traffic in West Hawaii. Planning—The Department will be conducting a public outreach program for the proposed Community Development Plan for the Ka`u district. 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. Activities of the general fund and special revenue funds are included in the annual appropriated operating budget. Project-length financial plans are adopted for the capital projects fund. Budgetary control is established at the department level. Formal budgetary integration is employed as a management control device for the general fund, special revenue funds, and the capital projects fund. Budgetary control for the debt service fund is achieved through general obligation bond indenture provisions. The basis of accounting used for the budgets of the general and special revenue funds differs from generally accepted accounting principles. Intergovernmental revenues are recognized when awarded by the granting agency, encumbrances and unexpended allotments are treated as expenditures for purposes of determining legal compliance with the annual budget,all leases are treated as operating leases,and accounts payable are not accrued. -4-