Financial Accounting and Reporting

Mission Statement:

To maintain accounts of the financial transactions of all departments and districts whose funds are kept in the County treasury in accordance with general law providing the appropriate level of internal control so as to safeguard the financial assets of the County and to prepare financial reports of these transactions in accordance with generally accepted accounting principles, assets within a framework of accountability, transparency and ethical conduct.

Summary:

The Financial Accounting and Reporting Division is responsible for insuring that creditors, investors, and taxpayers can rely on the County’s Comprehensive Annual Financial Report to portray the financial condition of the County in accordance with the highest standards of excellence; insuring that accounting records reflect the actual financial transactions, assets and liabilities of the County; insuring the citizens of San Diego County that public funds are adequately safeguarded and used for their intended purposes; and, insuring that all accounting transactions and related reports are in compliance with applicable laws.

Below is a list of the responsibilities that support our Mission Statement:

1. Establish and maintain internal controls over the financial transactions of the County by:
   1. Controlling and reviewing accounting data prior to input into the accounting system.
   2. Maintaining control over the Oracle General Ledger.
   3. Maintaining control over the establishment of funds, organizations and accounts.
   4. Maintaining control over the accounting for the County’s various debt financing.
2. Contribute to the ability to achieve a high credit rating on the County’s various debt issuances from Credit Agencies, e.g. Moody’s Investors Services and Standard and Poor’s by:
   1. Providing a significant contribution to the production the Comprehensive Annual Financial Report; reporting in accordance with generally accepted accounting principles as set forth by the Governmental Accounting Standards Board which earns the Government Finance Officers Association's (GFOA) Certificate of Achievement for Excellence in Financial Reporting.
   2. Producing financial statements that meet the requirements of the Transportation Development Act.
   3. Producing financial statements for the County’s various component units.
   4. Preparing and submitting County and Special Districts Financial Transactions Reports to the State Controller’s Office in a timely manner.
   5. Closing of the accounting records monthly and at fiscal year end on a timely basis.
   6. Insuring the equitable distribution of interest earned on treasury pooled investments to all participants through the interest apportionment process.

Services

• Financial Reports for External Agencies

Reports

• Annual Comprehensive Financial Report 
• Popular Annual Financial Report