2.01

The Dallas County Auditor’s Office will continue to maintain records on a basis consistent with accepted principles and standards for local government accounting, as determined by GASB and

GFOA.

2.02

Regular monthly and annual financial reports are issued summarizing financial activity by fund and department and comparing existing resources and expenditures with budgeted amounts, as required by Articles 114.025, 111.091, and 111.092 of the Revised Statutes of Texas.

2.03

The Auditor’s Office provides monthly reports on the total cost of specific services by type of expenditure and by the fund, by Articles 114.025, 111.091, and 111.092 of the Revised Statutes of Texas.

2.04

A financial audit will continue to be performed annually by an independent public accounting firm. An official opinion and annual financial report will continue to be published and issued, as authorized by Article 115.045 of the Revised Statutes of Texas.

2.05

Dallas County prepares and maintains a five-year plan which: a) updates reserve and expenditure projections for the next five years, b) projects capital improvement requirements over the five years, including future operating costs associated with all projects, c) updates revenue projections for the next five-year period, d) provides a comparison of revenues and expenses for each year in the period, and e) lists the long-term strategies selected to identify future risks and opportunities

2.06

Dallas County will continue to identify areas for evaluation efforts by either staff, committees, or consultants to judge the effectiveness and efficiencies of County services.

2.07

Cost/benefit studies will be conducted on non-recurring expenditures and capital projects, where appropriate and applicable.

2.08

Full disclosure will continue to be provided in the annual financial and budget reports and bond representations, in accordance with Articles 115.045, 114.025, 111.091, and 111.092 of the Revised Statutes of Texas.