Cleveland County Finance & Purchasing Department

Frequently Asked Questions

Select among the following questions:
What is the fiscal year?
Is the County audited?
What is the policy regarding investments?
What is the policy regarding debt?
What is the bond rating?

What is the fiscal year?

The County's fiscal year is July 1st to June 30th. Cleveland County, like many other governmental entities, operates on an annual financial (or fiscal) year which is distinct from the calendar year. For example, fiscal year 2010 began on July 1, 2009 and ended on June 30, 2010. By law, the State of North Carolina and all North Carolina counties and municipalities operate with such fiscal years.

Is the County audited?

Cleveland County is audited by an independent external auditing firm each year. The County is required by North Carolina General Statutes to have an audit of the general financial statements performed by an independent Certified Public Accountant (CPA). The CPA issues an opinion that is published with the County's annual audited financial statements. As overseer, the State Treasurer receives a copy of the County's annual audited financial statements. The annual audited financial statements are available for public review online and at the County Manager's offices.

What is the policy regarding investments?

North Carolina General Statutes specifies certain types of investments in which the County may invest. These laws and regulations, which provide investment policy for most North Carolina local governments, are available on the state government website. A synopsis of these rules are available at our Investment Types page.

What is the policy regarding debt?

North Carolina General Statutes specifies how debt must be approved, sold, and repaid. These laws and regulations, which provide debt policy for most North Carolina local governments, are available on the state government website.

What is the bond rating?

Of the three national investor services, both Standard & Poor's and Moody's Investors Service have designated an A+ rating or higher on Cleveland County's general obligation bonds. Fitch has not rated the County's bonds. If you are interested in purchasing bonds issued by the County, please contact a stock broker or a securities trader.

Please feel free to contact us if you have any comments, concerns, issues, questions, suggestions, or thoughts regarding any of the services listed above.

Telephone: (704) 484-4807

Homepage Annual Audit Annual Budget Investments List of Service Fees (XLS)	Policies Public Auction Risk Management Bidders Vendors	Unit-Collaboration Unit-Operations Unit-Payments Contact Us FAQ

http://www.ccncgov.com/FinanceD/faq.html
last updated February 6, 2012