Yes. Each year an independent audit is conducted on the books of Cobb County Government. The March 16, 2007 auditor’s report states in part, “In our opinion, the financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities, business-type activities, the aggregate discretely presented component units, each major fund and the aggregate remaining fund information of Cobb County, Georgia as of September 30, 2006, and the respective changes in financial position and the cash flows, where applicable, thereof and the respective budgetary comparison for the General Fund and he Major Special Revenue Fund for the year then ended, in conformity with accounting principles generally accepted in the United States of America.” The complete auditor’s opinion letter and other financial information are included in the Comprehensive Annual Financial Report (CAFR) on this Web site.

Cobb County has maintained its triple AAA rating for our General Obligation (G.O.) bonds since 1997. We are one of approximately 20 counties nationwide to achieve this status placing Cobb in the top 1% of counties nationwide. Additionally, in 2001 the Cobb County Water System became the first county in the U.S. to earn the triple AAA rating for an unenhanced water and sewer system. These outstanding ratings assure us that if and when we go to the bond market, we will get the lowest rate possible, which translates to millions of dollars in interest cost savings.

The adopted General Fund operating budget for fiscal year 2007 is $326,493,647.

Invoices processed in Accounts Payable by Noon on Tuesday of each week are paid on Friday of the same week.

Georgia law requires that the total amount of any county’s general obligation debt shall never exceed 10% of the total assessed value of all taxable property in the county. Cobb County is currently utilizing only 1.01% of its debt limit. The County chooses to pay cash for a substantial amount of capital improvements rather than issue general obligation bonds.

Yes, there are some demographic statistics on the Economic Development Department Web site at economic.cobbcountyga.gov

The total general fund expenditures for fiscal year 2006 were $310,459,244.

A complete copy of the CAFR is online: 2006 CAFR 9mb

October 1 – September 30

The Board of Commissioners reduced the millage rate (the measure used to assess property taxes) for 10 consecutive years from 1993 to 2002. The overall millage rate remained the same from 2002 to 2005 at 9.72 mills. The Board of Commissioners reduced the millage rate in 2006. The General Fund was reduced by .03 mills to 6.82 mills; the Fire Fund was reduced by .09 mills to 2.56 mills; and the rate for the Debt Service Fund remained at .22 mills for a total of 9.60 mills.

Some miscellaneous statistics about the level of services Cobb County provides can be found on page 131 of the Comprehensive Annual Financial Report 2006 CAFR 9mb

The Cobb County Finance Department is located at 100 Cherokee Street, Suite 400, Marietta, GA 30090. (Building A) County facilities map

The County’s primary source of revenue is property taxes. Other significant sources are licenses and permits, intergovernmental revenue, charges for services, and fines and forfeitures.

The ten largest commercial taxpayers are: the Home Depot, Inc.; BellSouth Telecommunications; Post Properties, Inc.; Wildwood Associates; Georgia Power Company; Cobb EMC; Lockheed Martin Aeronautical Systems; Inland Southeast Properties; 3200 Windy Hill Road Investments and Cousins Properties.

All vendors must fill out a Vendor Master Form and submit it to the Accounts Payable Division of the Finance Department. This form must be on file in Accounts Payable before payment can be authorized.

You may download forms and learn more about how to do business with Cobb County at: purchasing.cobbcountyga.gov

Check the Human Resources (HR) Web site to find out if any openings currently exist. If there are, fill out an application form that can also be found at the HR Web site. Make sure it is received by the HR Department by the date indicated on the job posting.

You may download an application, learn more about benefits and the hiring process and check current openings at: hr.cobbcountyga.gov

You can get information from the Economic Development Web site at: economic.cobbcountyga.gov

Additional budget information is available on the Budget Web site at: budget.cobbcountyga.gov

You can get information by accessing the Tax Assessors Web site at: www.cobbassessor.org

You can get information by accessing the Tax Commissioners Web site at: www.cobbtax.org

Our investment objectives are to (1) sufficiently diversify all funds so as to protect the principal from potential losses and (2) to obtain market rates of return while adhering to all state, federal and local laws and generally accepted accounting principles. Our four goals concerning investments are, in rank order, legality, safety, liquidity, and yield.

Cobb’s policy has been to maintain a 1/10th reserve (10%) for the General Fund.

The County’s outstanding long-term debt includes General Obligation bonds, Revenue bonds, capital lease payables, and notes payable.

Capital assets, which include property, plant, equipment, and infrastructure assets (e.g., roads, bridges, sidewalks, and similar items), are reported in the applicable governmental or business-type activities columns in the government-wide financial statements. The government defines capital assets as assets costing more than $5,000 and with an estimated useful life in excess of two years. Such assets are recorded at historical cost or estimated historical cost if purchased or constructed. Donated capital assets are recorded at estimated fair market value at the date of donation.

The costs of normal maintenance and repairs that do not add to the value of the asset or materially extend asset lives are not capitalized. Improvements are capitalized and depreciated over the remaining useful lives of the related fixed assets, as applicable. Interest incurred during the construction phase of capital assets of business-type activities is included as part of the capitalized value of the assets constructed.

Capital assets of the primary government, as well as the component units, are depreciated using the straight-line method over the estimated useful lives.

The CAFR must be submitted for review to the Government Finance Officers Association (GFOA) no later than six months after the government’s fiscal year end. Thus, it is usually available to the public each March.

It is an award presented by the Government Finance Officers Association of the United States and Canada to government entities whose Comprehensive Annual Financial Report (CAFR) achieve the highest standards in government accounting and financial reporting. Cobb County has received this award for 20 consecutive years.