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General Accounting


Ohio Law requires that the Fiscal Office submit an audited annual financial report to the State of Ohio every year. Additionally, our office produces an Annual Comprehensive Financial Report (ACFR). This report is submitted to the Government Finance Officers Association of the United States and Canada (GFOA). Cuyahoga County has been awarded the Certificate of Achievement for Excellence in Financial Reporting 24 times. This report is also available to the public.

The General Accounting Department is responsible for:

  • certifying, accounting for and payment of funds
  • issuing IRS form 1099 to applicable vendors and transmitting the 1099 file to the IRS
  • issuing "B" notices to applicable 1099 reportable vendors
  • issuing all payroll checks and direct deposits on a biweekly basis
  • issuing federal form W-2 to all employees and the W-2 tapes to Social Security and state and cities
  • Public Employee Retirement System (PERS) employee and employer contributions, federal and state withholding deposit, city withholding reconciliation and federal form 941 reconciliation to the IRS
  • the Fiscal Officer’s signature on the Public Defender Report; Ohio Department of Human Services Reports: Child Support Enforcement, Children Services and Human Services Public Assistance; Emergency Management Report; Juvenile Court and Board of Mental Retardation Reports; the Single Audit to the State Auditor; Single Audit to the Federal Department of Health and Human Services; and the District Board of Health and Soil and Water Conservation Board cash basis reports

 

General Accounting FAQ

When is your annual report available?
When are payments processed?
When are checks mailed?
What is an Annual Comprehensive Financial Report (ACFR)?
Why does the Accounting Department produce an ACFR?
What is the Certificate of Achievement for Excellence in Financial Reporting Award?
Why is the Accounting Department responsible for payment of all funds?
What is a "B" Notice and why does the Accounting Department issue them?
What is an IRS form 1099 and why does the Accounting Department issue them?
What is federal form 941 and why is it the Accounting Department’s responsibility?
Why is the Accounting Department responsible for the preparation of other agency’s reports and why do these reports need the Fiscal Officer’s signature?

 

Annual Certified Interest Rates

By October 15 of each year, the Ohio Tax Commissioner certifies the interest rates that will apply to overdue taxes during the next calendar year. For most taxes, the interest rate is calculated by adding three percentage points to the federal short-term rate (rounded to the nearest percentage point) that was in effect during July of the current year.

Based on this formula, the Tax Commissioner has certified that the annual interest rate that will apply to most overdue taxes during 2014 will be 12 percent.

View the Ohio Revised Code guidelines for charging interest on section ( B ), paragraph ( 2 ), lines (a) and (b).

A table of interest rates that apply to previous years may be found on the Ohio Department of Taxation website.

 

Financial Audit Reports