Finance – Garfield County

Watts named Garfield County finance director

Photos of new Garfield County Finance Director Jamaica Watts and new Contracts and Procurement Director Scott Henriksen.

Garfield County has elevated two of its own into important roles in both the finance and procurement departments. Jamaica Watts has taken the reins as the county’s new finance director and Scott Henriksen has been named the new procurement and contracts director. Formerly the county’s procurement and contracts director, Watts assumed the finance director role in an interim fashion in mid-April and has accepted the position full-time. Henriksen moved into the procurement director’s seat after three years as the county’s construction contracts administrator. Watts first served in local government for more than eight years at Eagle County, where she moved

View at financial details in table thru magnifying glass close-up

The Garfield County Finance Department has earned the Government Finance Officers Association’s (GFOA) Certificate of Achievement for Excellence in Financial Reporting (ACFR) for 2020. This marks the 13th straight year the finance department has been honored with the certificate by the GFOA for its annual comprehensive financial report. The award is presented to state and local governments that prepare financial documents at the highest quality, meeting all mandatory criteria. The county’s financial report was audited by McMahan and Associates, LLC, certified public accountants and consultants, out of Avon, to validate its accuracy. “This audit is to ensure that our finances

Garfield County has adopted its 2022 proposed budget, which features a balanced $94.6 million operating budget and $6.5 million in capital projects. The budget includes $7 million for discretionary grants. The county’s projected year-end fund balance is $81.9 million, a decrease from a projected $88.3 million at the end of 2021. The 2022 adopted proposed budget includes a balanced operating budget with revenues in excess of expenditures by $2.3 million and with a drawdown from capital and discretionary expenses of $8.7 million. “The estimated operating revenues exceed the proposed operating expenditures by $2.3 million,” said Lea Ann Zinnikas, interim Garfield

Garfield County has again earned a strong financial review from an independent auditor, which found that the county’s financial recording was conducted with the highest standards. McMahan and Associates, LLC, reported that Garfield County had no violations or conflicts associated in its 2020 comprehensive annual financial report (CAFR).

GARFIELD COUNTY, CO – Garfield County is expecting to receive $226,979 in National Forest Reserve payments for the year 2020. The funds, which are an increase of $2,717 from the prior year, are designed to benefit local public schools and public county roads that run through national forests, as well as emergency services, such as search and rescue, law enforcement and fire services. Also referred to as the Secure Rural Schools Act, the federal revenue sharing program is funded by leases and timber receipts from national forests located within the counties. Historically, Garfield County has opted to grant 100 percent

During a year filled with uncertainty, Garfield County was able to achieve a high percentage of important capital projects benefitting the entire community. Nearly 80 percent of the county’s 97 capital projects were completed in 2020, and six percent were near completion by year’s end. Just one percent of projects did not start, and 14 percent were in the beginning stages. Capital project goals included an expansion of the apron at the Garfield County Rifle Airport; realignment of the popular Red Hill Recreation Area near Carbondale; numerous improvements at the Garfield County Sheriff’s Office, replacement of the Garfield County Courthouse

The Government Finance Officers Association (GFOA) has again honored Garfield County in achieving the highest standards in accounting and financial reporting. The county’s comprehensive annual financial report for 2019 qualified for the GFOA’s Certificate of Achievement for Excellence in Financial Reporting. This marks the 12th straight year the county has earned such recognition. The certificate of achievement is awarded to a government, while the Award of Financial Reporting Achievement (AFRA) was presented to the Garfield County Finance Department. “The financial audit is a six- to nine-month process, which starts late November and ends in July with a presentation to the

Garfield County approves slimmed-down 2021 budget Fund balance projected at $81.8 million by the end of next year GARFIELD COUNTY, CO – Garfield County has approved a fiscally conservative $101.7 million budget for 2021, including a balanced operating budget ($87 million), $7.5 million for capital projects, and $7.2 million for discretionary expenditures. The Board of County Commissioners directed staff to cut expenses in 2021, contributing to a $5.6 million reduction in expenditures over the 2020 adopted budget. Estimated operating revenues outpace expenditures by $203,000, and the proposed capital and discretionary items are drawing down fund balances by $10.3 million, resulting

Garfield County honored for excellence in finance

GARFIELD COUNTY, CO – For the tenth-straight year, Garfield County has earned the prestigious Certificate of Achievement for Excellence in Financial Reporting (CAFR). The Government Finance Officers Association (GFOA) bestows this honor to governments that accomplish the highest standards in accounting and financial reporting. Garfield County was found to have met the GFOA’s standards, and “demonstrated a constructive spirit of full disclosure” in communicating its financial practices during a 2017 audit. “This award is established by the GFOA to encourage and assist local governments to go beyond the minimum requirements of generally accepted accounting principles, to prepare a comprehensive annual

County approves $102 million budget for 2019

PRESS RELEASE Nov. 20, 2018 Budget includes an increase of $1 million in revenues over 2018 GARFIELD COUNTY, CO – The Garfield County Board of County Commissioners has approved a fiscally conservative $102 million proposed budget for 2019 that includes a decrease in expenditures of $3 million from 2018. The budget features an increase in revenues of $1 million over 2018, mostly due to an increase in property tax collections. The 2019 budget’s expenditures come to just under $102 million, with $89.6 million in projected revenues. Proposed capital projects and discretionary items – primarily grants to local nonprofits – require

Finance Department earns ninth-straight budget presentation award

GARFIELD COUNTY, CO – The Garfield County Finance Department has once again shown its excellence in budgeting, earning the Government Finance Officers Association’s (GFOA) Distinguished Budget Presentation award for 2018. This marks the ninth-straight year the finance department has been honored in this capacity by the GFOA. The award is presented to state and local governments that prepare financial documents at the highest quality. To earn the honor, the county budget was rated proficient in four categories – as a policy document, financial plan, operations guide, and communications device – and meet 14 mandatory criteria within each. “This award is

Independent audit finds Garfield County ‘prudent’ with its finances

GARFIELD COUNTY, Colo. – Garfield County scored high marks from an independent auditing firm that was tasked with assessing the county’s financial statements, and noting any potential issues that could arise. Findings from the comprehensive annual financial report (CAFR), were presented to the Board of County Commissioners (BOCC) by Paul Backes, CPA, from McMahan and Associates, L.L.C. He said there were no difficulties found in the Garfield audit, and that his team had no disagreements with management over internal control. Backes said his firm audits numerous counties and municipalities from around Colorado, and takes a “balance sheet approach” to its

Garfield County Finance Department earns budgeting award

GARFIELD COUNTY, Colo. – The Garfield County Finance Department has again been honored for its excellence in governmental budgeting for its 2017 adopted budget. The Government Finance Officers Association (GFOA) bestowed the Distinguished Budget Presentation to the department for the eighth straight year. The GFOA rates governmental budgets on the ability to serve as a policy document, financial plan, operations guide, and communications device. Garfield County met those and 14 subsequent criteria, in receiving the award. The award “reflects the commitment of the governing body and staff to meeting the highest principles of governmental budgeting,” the GFOA noted. Todd Buikema,

Garfield County approves 2018 budget

GARFIELD COUNTY, Colo. – Garfield County has approved a fiscally conservative, balanced projected budget for 2018. The budget includes $83 million for operations and $14.1 million in capital projects. The $104.8 million projected budget also includes $8.6 million in discretionary expenditures, and projects the county’s 2018 year-end fund balances at roughly $102.7 million – a drawdown of $16.3 million from 2017. Revenues in 2017 were down $2.6 million from projections, mainly due to lower property tax collections. County offices and departments presented lean budgets to the Board of County Commissioners this fall, helping to achieve the balanced budget. The overall

Independent audit supports Garfield County financial report

GARFIELD COUNTY, CO – An independent audit of Garfield County’s Comprehensive Annual Financial Report (CAFR) found the accounting for 2016 to be in good order and conducted with the highest standards. Paul Backes, CPA, from McMahan and Associates, L.L.C. presented the findings of the CAFR audit to the Board of County Commissioners. He said the firm studies the CAFR, and offers opinions on the financial statements, and points out any issues they may come across. In spite of lower property tax revenues in 2016, Garfield County has retained its strong financial position. According to the CAFR, the county has $467.2

County approves 2017 balanced operating budget without reduction in services or staff

GARFIELD COUNTY, CO – The Garfield County Board of County Commissioners (BOCC) adopted the county’s 2017 budget Monday, Nov. 14. Revenues for 2017 are expected to be approximately $91 million, about $14 million less than 2016 revenues. The reduction is due primarily to a $17 million decline in collections of oil and gas property tax – a 35% decrease from that sector, due to declining natural gas production and soft market pricing. In total, the 2017 county budget appropriates $105,687,458 for expenditures. The budget will implement $86.5 million for operations, $11.7 million for capital, and $7.5 million for discretionary expenditures.

GARFIELD COUNTY, CO – Garfield County’s Finance Department was honored for the eighth straight year by the Government Finance Officers Association (GFOA). The certificate of achievement for excellence in financial reporting was received for the fiscal year that ended Dec. 31, 2015. “The Certificate of Achievement is the highest form of recognition in the area of governmental accounting and financial reporting, and its attainment represents a significant accomplishment by a government and its management,” the GFOA statement notes. “It takes a strong team effort to put together an annual report that meets the GFOA’s standards of excellence,” Interim Finance Director

Garfield County commissioners approve 2016 budget

GARFIELD COUNTY, CO – The Garfield County Board of County Commissioners (BOCC) adopted the 2016 budget on Monday, November 16, 2015. In total, $107,032,829 was appropriated for expenditure in 2016. Revenues for 2016 are projected to be approximately $105 million, similar levels to those of 2015. While property tax revenues are projected to increase by seven percent in 2016, this is offset by a decrease in intergovernmental grants related to capital expenditures. Operating revenues exceed operating expenditures by approximately $9.6 million. Excess operating revenues will be used to fund capital projects and provide discretionary funding in 2016. There will be

Increased property tax revenue boosts 2015 Garfield County budget

GARFIELD COUNTY, CO – Garfield County’s 2015 proposed budget reflects a 10 percent increase in property tax revenue, stemming from higher assessed valuations in Garfield County. The valuations increased mainly because of the increasing price of natural gas. Sales tax revenues are also expected to increase. This is a promising offset of the 2014 budget season, which had suffered a 26 percent decrease in revenue. The 2015 Garfield County proposed budget, which the Board of County Commissioners (BOCC) received Tuesday, October 1, is now available for public review. Public hearings are scheduled on it October 14 at 8 a.m., October

Commissioners adopt Garfield County’s 2014 budget

GARFIELD COUNTY, CO – Garfield County adopted its 2014 budget Monday, December 9, and appropriated $126,770,360 in expenditures. Estimated operating revenues exceeded proposed operating expenditures by approximately $7 million, resulting in a balanced budget. Commissioners approved the 2014 budget at a regular commission meeting hosted in the Silt Municipal Building, one of four meetings held in communities across the county each year. “The 2014 budget is a comprehensive review of revenue versus expenditures,” said John Martin, chair of Board of County Commissioners, “our emphasis is not on overspending. We have created a balanced budget that we can all live with.”

Garfield County offers its 2014 Proposed Budget for public review

GARFIELD COUNTY, CO – Close scrutiny of expenditures and the setting of reasonable fiscal goals are necessary elements of the 2014 Garfield County Proposed Budget, which the Board of County Commissioners (BOCC) received Tuesday, October 15, for its consideration. The new budget reflects a stern 26 percent decrease in property tax revenue, stemming from lower assessed valuations in Garfield County. An 18 percent increase of sales tax collections, however, and other tax revenue will soften the blow somewhat, resulting in an expected $11 million drop in revenues for 2014. The good news is property tax revenue is forecasted to rebound

Garfield County adopts 2013 budget

GARFIELD COUNTY, CO – Garfield County adopted its budget and appropriated $116,693,384 for the 2013 fiscal year Monday, December 10. The county’s fund balance will direct discretionary expenditures for specific infrastructure improvements to local municipalities, but it will still retain a projected balance at the end of 2013 in excess of $100 million. “The 2013 operating and capital budgets are balanced,” Commissioner Tom Jankovsky said. “I’m pleased with the work our staff has done, and the detailed analysis that went into this.” Projected revenues for 2013 are expected to decrease by $8.5 million (7%), in large part due to the

Resolution

RESOLUTION NO. 12 RESOLUTION EXERCISING PURCHASE OPTION UNDER CAPITAL PROJECTS LEASE PURCHASE AGREEMENT WITH NOTICE AND INSTRUCTION TO TRUSTEE AUTHORIZING REDEMPTION OF CERTIFICATE OF PARTICIPATION, SERIES 2001, AND NOTICE TO GARFIELD COUNTY FINANCE AUTHORITY WHEREAS, the Board of County Commissioners of Garfield County, State of Colorado BOCC” is a legal and political subdivision of the State of Colorado for which the BOCC, pursuant to C. R. S., Â§ 30- 11- 103 ( 2011), is authorized to act; and WHEREAS, the BOCC is authorized pursuant to C. R. S., Â§ 30- 11- 101(1)(d)(2011) to make all contracts and do all other

The Garfield County Finance Department presented a proposed 2012 budget to the Garfield County Board of County Commission on September 29. The budget forecasts revenues of approximately $113 million and expenditures of $120 million. The strategy for the 2012 proposed Garfield County budget focuses on retaining current staffing levels after significant reductions occurred in 2010 and 2011, and keeping operating expenses at a flat rate. The strategy also features few infrastructure projects, capital equipment acquisitions, limited road projects and no major capital projects that don’t have pass-through monies. As a result, county administrators expect to maintain a $100 million fund

Work session on energy tax refunds June 14

In Noble Energy v. Colorado Department of Revenue, 232 P. 3d 293 (Colo. App., 2010), the Colorado Court of Appeals ruled in favor of Noble Energy for a refund of sales taxes that was incorrectly charged to oil and gas companies by fracturing companies during the taxable period of April 2002 through July 2005. The Colorado Department of Revenue is currently in the process of auditing the claims for refund made by Noble Energy and other energy companies. Upon completion of each audit, the state will refund sales tax due the companies, and then will withhold that amount from future

The Garfield County Finance Department has received national recognition for the third year in a row for its Comprehensive Annual Financial Report (CAFR). Certificates of Achievement for Excellence in Financial Reporting are presented by the Government Finance Officers Association (GFOA) of the United States and Canada to government units and public employee retirement systems whose comprehensive annual financial reports achieve the highest standards in government accounting and financial reporting. This prestigious award requires that organizations supplement their financial reports with data and research to provide a wider scope of information contained in an annual financial report. In 2011, of the

As assessed valuations are bringing 2011’s diminishing tax revenue stream into sharp focus, Garfield County will see a drop in combined oil and gas production and property tax revenue averaging about 35%. While Garfield County revenues will take a serious hit to the bottom line, prior planning and foresight have helped the county prepare for this day. Financial stability was the first priority Ed Green was tasked with when he stepped into the role of county manager a dozen years ago. The BOCC 12 years ago foresaw a need to build fund balance, and so Green put his mind to

Watts named Garfield County finance director

Finance earns honor for excellence in reporting

Garfield County adopts proposed 2022 budget

Garfield County earns clean audit review

Garfield County to receive $227,000 in National Forest Reserve payments

Garfield County achieves success with capital projects

Garfield County honored by GFOA

Garfield County approves slimmed-down 2021 budget