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 Martin County Finance Department

 
Finance Department
Martin County Governmental Center
305 East Main Street
PO Box 668
Williamston, NC 27892
Phone: 252-789-4330
Fax: 252-789-4339
Hours: 8:00AM to 5:00PM Monday - Friday
The Finance Department provides accounting and financial management systems in accordance with North Carolina General Statutes. This department manages cash and investments, fixed assets, debt, grants, payroll and timekeeping, procurement of goods and services for all County agencies, and the Risk Management safety functions. Finance prepares the Comprehensive Annual Financial Report.
Comprehensive Annual Financial Report (CAFR)

City, county and state governments are required by law to produce basic financial statements. The Comprehensive Annual Financial Report is an audited public document that provides financial information but unlike basic financial statements goes on to provide more detailed economic, demographic, and statistical information. Governments are encouraged to create a Comprehensive Annual Financial Report but because of their complexity are not required by law or statue. Martin County creates a Comprehensive Annual Financial Report annually, which is available from the Finance office as well as on this web site.

A Comprehensive Annual Financial Report includes combined statements of revenues, expenditures, and changes in financial position somewhat similar to the financial statements of a business. In addition, it provides supporting schedules necessary to demonstrate compliance with finance-related legal and contractual provisions and most include an introductory document called a Letter of Transmittal that is free format and allows a government to highlight it's bright spots or down play the negative ones. The Comprehensive Annual Financial Report enables taxpayers to assess proper use of public funds and is used extensively by bond rating agencies, underwriters, and bondholders to assess the investment risk of a government.

To encourage governments to create Comprehensive Annual Financial Reports that are easily readable and efficiently organized, the Government Finance Officers Association of the United States and Canada (GFOA) ask that governments submit their Comprehensive Annual Financial Report for inspection to the GFOA. If the content and format meet the high standard of quality set out by the GFOA, it will award a Certificate of Achievement for Excellence in Financial Reporting to that government. Martin County was awarded this Certificate of Achievement for its Comprehensive Annual Financial Report for the fiscal year ended June 30, 2003.

This was the 13th consecutive year in which Martin County has received this recognition.