Accounting

PURPOSE

The Accounting Division of the Baltimore County Office of Budget and Finance is responsible for the accounting and administration of all revenue sources and expenditures within Baltimore County. It is comprised of several areas of responsibility, including grants, capital projects, revenue collection, property tax system control as well as general accounting.

ANNUAL COMPREHENSIVE FINANCIAL REPORT

The office is also responsible for the compilation of the Annual Comprehensive Financial Report as well as the yearly Single Audit Report. The annual report is a detailed presentation of the County’s financial position as of its June 30 fiscal year end and the results of operations for that fiscal year. The Single Audit Report presents the expenditures of all the County’s federally funded programs in accordance with Office of Management and Budget (OMB) Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards ("Uniform Guidance"). The Uniform Guidance was implemented in December 2014 and is an authoritative set of rules and requirements for federal awards that synthesizes and supersedes guidance from earlier OMB circulars. This guidance applies to states, local governments and non-profit organizations expending federal awards in excess of $750,000.

The Baltimore County Charter requires that the accounting records be audited on a yearly basis by an independent auditor. The County has consistently conformed to the highest standards of governmental accounting for its Annual Report and has been awarded the Certificate of Achievement for Excellence by the Government Finance Officers Association (GFOA) for each year.

EXPENSE REPORT

The office has compiled Fiscal Year 2024 Expense Report. The listing summarizes expense disbursements to recipients that exceed $2,000 with a description of the expense incurred.

AWARDS

The County has been awarded the prestigious Certificate of Achievement for Excellence in Financial Reporting by the GFOA each year since 1979 for the annual report, and each year since 1994 for the Employees' Retirement System.