Tennessee Completes Annual Financial Report

Friday, December 13, 2013

The State of Tennessee has completed its annual financial report for fiscal year 2012-13. The Department of Finance and Administration’s Division of Accounts produces the Comprehensive Annual Financial Report, and has received national recognition for the report.  

“Closing the state’s financial year requires detailed analysis and disclosure in order to meet national standards,” F&A Commissioner Larry Martin said. “We strive for excellence in maintaining a system of general accounts embracing all the financial transactions of state government and providing a complete and responsible report on state finances.”

The report includes audited government-wide and fund financial statements and related notes, required supplementary information, and the underlying combining and individual fund financial statements and supporting schedules. It also features selected unaudited financial, economic and demographic data on a multi-year basis that is useful in evaluating the economic condition of the government. 

State statutes require an annual audit of all financial statements of the state. As part of the meeting of this requirement, auditors from the Comptroller of the Treasury examined the financial statements, and issued an unqualified opinion on the state’s basic financial statements. The independent auditor’s report is located at the front of the report.

Tennessee has been recognized by Government Finance Officers Association for excellence in financial reporting for a total of 33 years of financial reporting. The award is the highest form of recognition in governmental accounting and financial reporting, and represents a significant accomplishment by the state.  F&A will again seek the certification award from GFOA for the fiscal year 2012-13 report.

CAFR reports dating back to 1997 are available electronically on the state’s website at http://www.tn.gov/finance/act/cafr.shtml.

Patrick, Beard, Schulman And Jacoway, P.C. Attorneys Selected To 2016 Mid-South Super Lawyers List

Patrick, Beard, Schulman and Jacoway, P.C. announces that Richard A. Schulman, Michael A. Anderson, and Jeremy M. Cothern have been selected by their peers for inclusion in the Mid-South Super Lawyers for 2016. Each year, no more than five percent of the lawyers in the states of Arkansas, Mississippi, and Tennessee are selected by the research team at Super Lawyers to receive ... (click for more)

Hamilton County Emergency Communications District Implements Inform CAD, Mobile System

Hamilton County Emergency Communications District has gone live with Inform CAD and Mobile, a step in an upgrade of their emergency communications and response technology. Combining the new technologies in place at Hamilton County which include TriTech 911, which Hamilton County installed in 2014, Inform CAD, and Inform Mobile, provides the district with a modernized communications ... (click for more)

East Ridge Meth Dealer Gets 168 Months In Federal Prison

A man who agents said was dealing large quantities of meth from his East Ridge residence has been sentenced to serve 168 months in federal prison. Kenneth Lemons appeared before Judge Curtis Collier. Agents said they made several controlled drug buys from Lemons at his residence in 2015. On Oct. 27, 2015, he drove up to a residence where DEA agents were making a controlled ... (click for more)

Chattanooga Man With 5 Violent Felonies Gets 30 Years In Prison

A Chattanooga man with five violent felonies on his record has been sentenced to serve 30 years in prison. Demetrius Joiner, 30, was given a 20-year sentence by Judge Curtis Collier after he was ruled to be an Armed Career Criminal. Judge Collier said the term would be consecutive to several state sentences imposed earlier on Joiner, including 10 years for aggravated robbery. ... (click for more)

Signal Mountain Couldn't Manage Public Education

I have been reading the buzz about Signal Mountain and other small municipalities considering a move to form their own school district within their municipal boundaries.  It is quite the comedy hour considering the notion that small cities that for decades could not even manage small sewer systems or 911 districts, are somehow going to do a better job with public education ... (click for more)

Roy Exum: Among The Worst In U.S.

Bobby Bragan, who was the first manager of Major League Baseball’s Braves when they moved from Milwaukee to Atlanta, had a great view on statistics: “Say you were standing with one foot in the oven and one foot in an ice bucket. According to the percentage people, you should be perfectly comfortable.” I am about to make you uncomfortable with some lousy statistics. Earlier this ... (click for more)