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Chemung County News

Posted on: July 21, 2022

2021 Annual Comprehensive Financial Report for Chemung County

County Executive Seal

Jen Furman Letterhead

News Release
7/21/2022


For Immediate Release from Desk of Chemung County Treasurer Jennifer Furman-

I am pleased to announce today the recent issuance of Chemung County's 2021 Annual Comprehensive Financial Report (ACFR), including the audited financial statements of Chemung County for the year ended December 31, 2021, along with the issuance of several other required audit reports.

The 2021 audited financial statements indicate an unmodified (clean) audit opinion for Chemung County government, inclusive of all funds and component units. This is the best possible outcome for this audit. The 2021 ACFR and the Federal Single Audit reports are available at:

https://www.chemungcountyny.gov/179/Financial-Statements-Independent-Auditor

As authorized within the Chemung County Charter, the County Treasurer is the elected official of Chemung County responsible for accounting and auditing, and I am also the officer responsible to produce the financial statements and the ACFR. As such, I am once again honored and proud to report to the taxpayers and citizens of Chemung County that we will again submit County's ACFR to the Government Finance Officers Association (GFOA) for consideration of a Certificate of Achievement in Financial Reporting (COA). The GFOA's COA program is the highest form of recognition awarded to a government in terms of assurance that the users of the County's financial statements have the most comprehensive and transparent document available to assess the County's financial health, and of course that the County's financial statements are always prepared and audited in accordance with the applicable governmental accounting and auditing standards. Chemung County has received the prestigious COA award since 2013, and we are looking forward to the GFOA's review and consideration of the County's 2021 ACFR.

The financial results for Chemung County for 2021 have been reported on previously in separate releases, but the 2021 ACFR confirms and thoroughly enumerates a very positive overall financial position for Chemung County, as well as results of operations for 2021. Chemung County is well positioned with sufficient general fund balance to address future economic uncertainties as we head into the 2023 budget season. Chemung County weathered the storm of the COVID years well by maintaining quality programs and services, growing the general fund balance, and also cutting the general fund property tax rate at the same time. I am excited about these results for the taxpayers and citizens of Chemung County because ultimately this is their money and their money and their government working for them.

These results and reports would not be possible without the hard work and dedication of many people. For that, I would like to especially thank the entire staff of the Chemung County Treasurer's Office, the fiscal staff at the Chemung County Nursing Facility and the Elmira Coming Regional Airport, and many other fiscal staff throughout the County. Additionally, I would like to thank Chemung County Executive Christopher Moss, Deputy Executive David Sheen, and County Budget Director Steve Hoover for the support of the Treasurer's Office and for their focused management of Chemung County's budget and operations. Lastly, I am grateful to the dedicated County workforce for everything they do to continue to deliver quality programs and services to the people of Chemung County.

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