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.

Supreme Court Says DA’s Improper Argument, Withholdin?g of Evidence Violated Defendant’?s Constituti?onal Rights

The Tennessee Supreme Court has ordered a new trial for Noura Jackson, a Shelby County woman convicted of the second-degree murder of her mother, Jennifer Jackson, because the Court found there were constitutional errors made in the course of the proceedings. The Court explained that during the 2009 trial, the lead prosecutor impermissibly commented upon the defendant’s exercise ... (click for more)

Tennessee Unemployment Rate Increases In July

County unemployment rates for July 2014, released Friday, show the rate increased in 86 counties, decreased in five, and remained the same in four counties. Davidson County had the state’s lowest major metropolitan rate in July at 6.3 percent, up from 6.0 in June. Knox County was 6.6 percent in July, up from 6.3 in June. The Hamilton County July rate was 7.8 percent, up from ... (click for more)

Boy, 16, To Face Murder Charges In Criminal Court On Triple Lookout Valley Slayings

A Lookout Valley youth who was 15 at the time of his alleged involvement in a massacre in the valley will stand trial as an adult. Jacob Allison, who is now 16, was taken by the sheriff's office to the Hamilton County Jail after a transfer hearing in Juvenile Court on Friday morning. Juvenile Court Judge Rob Philyaw said under state law he has jurisdiction over rehabilitation ... (click for more)

Justin Wilkins Selected As Deputy Chief Of Staff For Mayor Berke

Native Chattanoogan Justin Wilkins will serve as Mayor Andy Berke's deputy chief of staff, it was announced Friday. Mr. Wilkins has spent the last several years serving as the Tennessee state director for multiple advocacy and electoral organizations, including Organizing for America and Organizing for Action. Prior to that, he worked as project manager at Profit Plans LLC ... (click for more)

Black Creek TIF Decision-Who Guards The Hen House? - And Response

Citizens of Chattanooga were invited to give public comment before their own Industrial Development Board Aug. 15. They arrived to find foxes guarding their hen house.  Many thought the meeting was their opportunity to seek redress in the ill-conceived Black Creek Tax Increment Financing plan. However, they learned it was a sham orchestrated by both the past and present ... (click for more)

Roy Exum: Let’s ‘Pay It Forward’

At 7 a.m. on Wednesday morning, this at a Starbucks coffee store located at 2186 Tyrone Blvd. in St. Petersburg, Fla.,  an unidentified woman who was first in line at the drive-through window, politely told the drive-through window clerk she would like to “pay it forward.” The clerk checked the next order – it was a caramel macchiato – and the first customer paid for both her ... (click for more)