10 Random Financial Facts About The County Fished From Rossi’s CAFR

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Beaver County Controller David Rossi has released this year’s Comprehensive Annual Financial Report (CAFR).

The 192 page document provides detailed information about the county’s finances and includes government-wide financial statements, along with supplemental information relevant to the overall economic condition of Beaver County. The CAFR is relied upon throughout the year by government officials, investors, and creditors to help make financial and operational decisions involving Beaver County.

Here are 10 random facts the Beaver Countian fished out of Controller Rossi’s CAFR:

– Friendship Ridge, the County’s long-term care facility, was sold to a private entity in 2014. A group of investors advanced $8 million in 2013 and paid close to an additional $25 million in March of this year to transfer the assets and operations of Friendship Ridge.

– The County’s Pension Fund saw a positive rate of return for the 5th consecutive year in 2013. The fund’s net worth increased by approximately $46.7 million, attributed primarily to a whopping 21.4% rate of return on investments last year.

– Beaver County’s overall long-term debt was reduced by $3.1 million last year. This marks the 4th consecutive year of long-term debt reductions without tax increases.

– Fees collected by the County related to natural gas and oil drilling operations continue to increase, revenues recorded in 2013 exceeded $770,000.

– Approximately 60% of the County’s revenues last year came from grants and contributions, 9% from fees and charges, and 31% from real estate taxes.

– The top 10 property tax payers in Beaver County for 2013 were: First Energy Corporation (Bruce Mansfield, BV2), Pr Beaver Valley LP (Beaver Valley Mall), Koppel Steel (Ambridge & Koppel), Horsehead Industries, DDR MDT (Lowes, Eat’N Park, Texas Roadhouse), United States Gypsum (Aliquippa), THF Monaca, LP (Walmart), Noval Chemicals Inc., The Buncher Compnay, and NGC Gypsum Plant (Shippingport).

– Beaver County collected 96.34% of the property taxes levied last year. Of the $47,503,161 owed to the county in property taxes in 2013, just $2,716,354 were listed as delinquent by year’s end.

– The County’s outstanding debt of $133,402,312 in 2013 equates to $784 in debt for every man, woman, and child living in the county. That’s down from $791 in 2012, $811 in 2011, $835 in 2010, and $847 in 2009.

– Total full-time equivalent county employees in 2013 stood at 755, that’s down from 874 employees 10 years ago.

– There were 24,586 traffic citations issued by officers in Beaver County in 2013. That’s down from 25,683 traffic citations written in 2012.

Complete copies of the County Controller’s CAFRs dating back to 2002 are available on the county’s website for review.

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Reader Comments:


Guest
Wait...What???
11 months 13 days ago

First, I find it funny you’ve received no replies to this. Secondly, I find it more funny that the county collected 770k from the gas companies. Yes of course that is a lot of money but common sense dictates that BC most likely isn’t getting it’s fair share.