Delaware Code Title 9 Sec. 1403 – Certification of annual financial report of Chief Financial Officer
(a) The County Auditor shall have a qualified accounting firm conduct an audit of the annual financial report of the Chief Financial Officer and append thereto a certificate which shall state whether, in the opinion of the accounting firm, the financial statements in the financial report:
(1) Contain a proper record of the County’s financial transactions for the year;
(2) Properly reflect the current assets, liabilities, and funded debt of the County as of the close of the fiscal year; and
(3) Comply with generally accepted principals of governmental accounting.
Terms Used In Delaware Code Title 9 Sec. 1403
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- State: means the State of Delaware; and when applied to different parts of the United States, it includes the District of Columbia and the several territories and possessions of the United States. See Delaware Code Title 1 Sec. 302
- Year: means a calendar year, and is equivalent to the words "year of our Lord. See Delaware Code Title 1 Sec. 302
(b) Should there be any qualifications or exceptions to any portion of the annual financial report of the Chief Financial Officer, they shall be stated by the accounting firm in an explicit manner in the certification appended to the audit conducted pursuant to subsection (a) of this section.
(c) A final draft of the report of qualifications or exceptions shall be provided to the Chief Financial Officer for review and comment regarding factual content before it is finalized and released. The Chief Financial Officer may respond in writing and specify agreement or disagreement with the findings and the reasons therefore. Written responses must be received within 30 days from the date of the final draft and shall be included in the final report. Alternatively, a revised final report may be issued incorporating suggested and accepted corrections. The absence of response within 30 days will be noted in the final report.
9 Del. C. 1953, § ?1323; 55 Del. Laws, c. 85, § ?2; 71 Del. Laws, c. 401, § ?59; 75 Del. Laws, c. 139, §§ ?1, 2;