Comprehensive Annual Financial Report Fiscal Year 2009
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Baltimore County CAFR
We are pleased to present the Comprehensive Annual Financial Report (CAFR) for Baltimore County, Maryland for the fiscal year ending June 30, 2009. The CAFR is a thorough, detailed presentation of the County's financial position and results of operations for the fiscal year.
- Introductory Section—This section contains the Letter of Transmittal, Organization Chart, List of Principal Officials and the Government Finance Officers Association of the United States and Canada (GFOA) Certificate of Achievement.
- Financial Section
- Management's Discussion and Analysis (MD and A)—The MD and A provides an objective analysis of the County's financial activities based on currently known facts, decisions or conditions.
- Basic Financial Statements—This section contains the Government-wide Financial Statements, which combine all the County's governmental and business-type activities as well as discretely presented component units; the Fund Financial Statements, which show the financial position and operating results by fund; and the Notes to the Basic Financial Statements, which are an integral part of the financial statements.
- Combining Financial Statements—This section provides detailed information regarding the financial position and results of operations for the Non-major Governmental Funds, the Internal Service Funds and the Fiduciary Funds. In addition, this section also includes the General Fund Schedule of Appropriations and Expenditures—Budgetary Basis.
- Statistical Section—Included in the Statistical Section are financial presentations that provide detailed data on the physical, economic, social and political characteristics of the County.
We are pleased to present the CAFR for the Employees' Retirement System of Baltimore County, Maryland (the "System") for the fiscal year ending June 30, 2009. The CAFR is a thorough, detailed presentation of the System's financial position as of June 30, 2009, and the changes in its plan net assets for the years then ended.
- Introductory Section—This section contains the GFOA Certificate of Achievement, the Letter of Transmittal, the Board of Trustees, List of Consultants, Professional Services and Investment Managers, and the Organizational Chart.
- Financial Section
- Independent Auditors' Report—This report provides an opinion on the basic financial statements.
- Management's Discussion and Analysis—This section provides an overview of the financial activities for the fiscal years ended June 30, 2009 and 2008.
- Basic Financial Statements—This section contains the Statements of Plan Net Assets, the Statements of Changes in Plan Net Assets and the Notes to the Financial Statements.
- Required Supplementary Information and Supporting Schedules—This section contains the Schedule of Funding Progress and the Schedule of Employers' contributions.
- Investment Section—This section contains a report on investment activity, investment policies, investment results and various investment schedules.
- Actuarial Section—This section contains an independent Actuary's Certification Letter and the results of the annual actuarial valuation.
- Statistical Section—This section contains significant data pertaining to the System's membership and other historical data over the last ten fiscal years.