HomeMy WebLinkAbout2020-COH - Local Governent Financial Test WorksheetCOUNTY OF HAWAII
STATE OF HAWAII
LOCAL GOVERNMENT FINANCIAL TEST WORKSHEET
INDEPENDENT ACCOUNTANT'S REPORT
ON APPLYING AGREED-UPON PROCEDURES
Fiscal Year Ended June 30, 2020
N&KCPAs, Inc.
ACCOUNTANTS, CONSULTANTS
999 BISHOP STREET, SUITE 2200, HONOLULU, HAWAII 96813
T (808) 524-2255 F (808) 523-2090 nkcpa.com
N&K CPAs, Inc.
ACCOUNTANTS, CONSULTANTS
999 BISHOP STREET, SUITE 2200
HONOLULU, HAWAII 96813
T (808) 524-2255 F (808) 523-2090
INDEPENDENT ACCOUNTANT'S REPORT
ON APPLYING AGREED-UPON PROCEDURES
To the Director of Finance
County of Hawaii, State of Hawaii
We have performed the procedures enumerated below on the accompanying Local
Government Financial Test Worksheet (Worksheet) prepared in accordance with the
Federal Register (40 CFR Part 258), Criteria For Municipal Solid Waste Landfills of the
County of Hawai'i, State of Hawai'i (County) for the fiscal year ended June 30, 2020.
The County's management is responsible for the Worksheet.
The County has agreed to and acknowledged that the procedures performed are
appropriate to meet the intended purpose to verify that the computations on the Local
Government Financial Test Worksheet were arithmetically correct. This report may not
be suitable for any other purpose. The procedures performed may not address all the
items of interest to a user of this report and may not meet the needs of all users of this
report and, as such, users are responsible for determining whether the procedures
performed are appropriate for their purposes.
The procedures and associated findings are as follows using the definitions in
Attachment 2:
1. With respect to the computation of the excess of revenues over
expenditures/expenses, we recomputed the amount for the fiscal year ended
June 30, 2020 by deducting total expenditures/expenses, as adjusted, from total
revenues. We compared the amounts, which comprise the total revenues and
total expenditures/expenses, as adjusted, with the related amounts in the
County's Comprehensive Annual Financial Report (CAFR) for the fiscal year
ended June 30, 2020 and we found such amounts to be in agreement with the
amounts presented in the County's CAFR.
2. We verified that the computations on the Local Government Financial Test
Worksheet were arithmetically correct.
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N&K CPAs, Inc.
ACCOUNTANTS, CONSULTANTS
3. We audited the County's CAM as of and for the fiscal year ended June 30, 2020
to determine whether the County's basic financial statements were prepared in
accordance with accounting principles generally accepted in the United States of
America and have issued our report thereon dated December 30, 2020. Our
independent auditor's report states that, in our opinion, the County's basic
financial statements present fairly, in all material respects, the respective
financial position of the governmental activities, the business -type activities, the
discretely presented component unit, each major fund, and the aggregate
remaining fund information of the County as of June 30, 2020, and the respective
changes in the financial position and, where applicable, cash flows thereof and
the budgetary comparison for the general fund for the fiscal year then ended in
conformity with accounting principles generally accepted in the United States of
America. We have not performed any additional auditing procedures since the
date of the aforementioned auditor's report.
We were engaged by the County to perform this agreed-upon procedures engagement
and conducted our engagement in accordance with attestation standards established by
the American Institute of Certified Public Accountants. We were not engaged to and did
not perform an examination or review engagement, the objective of which would be the
expression of an opinion or conclusion, respectively, on the Local Government Financial
Test Worksheet. Accordingly, we do not express such an opinion or conclusion. Had we
performed additional procedures, other matters might have come to our attention that
would have been reported to you.
We are required to be independent of the County and to meet our other ethical
responsibilities, in accordance with the relevant ethical requirements related to our
agreed-upon procedures engagement.
This report is intended solely for the information and use of management of the County
and the U.S. Environmental Protection Agency, and is not intended to be and should not
be used by anyone other than those specified parties.
N&K CPAs, Inc.
Honolulu, Hawaii
October 20, 2021
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County of Hawaii
State of Hawaii
LOCAL GOVERNMENT FINANCIAL TEST WORKSHEET
Fiscal Year Ended June 30, 2020
Attachment 1
(in thousands)
Computation of excess of revenues over expenditures/expenses
Revenues:
Gross revenues
Governmental funds: $ 578,282
Proprietary funds: $751
Component unit: $49,053
Non-operating revenues - interest and other
Proprietary funds: $5
Component unit: $4,678
Total revenues: $632,769
Expenditures/expenses
Governmental funds: $585,853
Proprietary funds: $645
Component unit: $60,325
Less:
Debt service (governmental funds): $(47,811)
Debt service (proprietary funds): $(25)
Debt service (component unit): $(1,559)
Capital outlays (governmental funds): $(79,536)
Total expenditures/expenses, as adjusted: $517,892
Excess of revenues over expenditures/expenses: $114,877
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County of Hawaii
State of Hawaii
LOCAL GOVERNMENT FINANCIAL TEST WORKSHEET - DEFINITIONS
Fiscal Year Ended June 30, 2020
Attachment 2
The following terms used in the accompanying Local Government Financial Test
Worksheet are defined in the Federal Register (40 CFR Part 258.74), Criteria For
Municipal Solid Waste Landfills - Financial Assurance Criteria - Allowable Mechanisms,
as follows:
A) Total revenues include revenues from all taxes and fees, but does not include
the proceeds from borrowings or asset sales, excluding revenue from funds
managed by the local government on behalf of a specific third party.
B) Total expenditures/expenses include all expenditures, excluding capital outlays
and debt repayment.
C) Debt service is the amount of principal and interest due on loans in a given time
period, typically the current year.
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