Oklahoma County Files Annual Financial Report Before Deadline

By
Joe Killer
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Oklahoma County files annual financial report ahead of schedule

Oklahoma County Clerk Maressa Treat has presented the fiscal year 2023 Annual Comprehensive Financial Report to Moody’s Investors Service, Inc., well before the extended deadline set by the agency.

AS YOU TUNE IN AT 4:00, WE’RE MONITORING AN INCREASE IN RAINFALL ALONG WITH A CHANCE OF SEVERE WEATHER INCLUDING SNOW. I’M ABIGAIL OGLE, AND I’M EVAN ONSTOT; NOT SO MUCH LOOKING FORWARD TO THAT LAST PART. LET’S JUMP INTO YOUR FIRST ALERT FORECAST. DAMON, THERE’S A LOT TO DISCUSS TODAY. YES, INDEED, QUITE A BIT TO COVER. WE’RE EXPECTING SOME SPRING WEATHER MIXED WITH WINTER CONDITIONS. CURRENTLY, THE RADAR SHOWS THAT STORMS HAVE MOVED INTO ARKANSAS, PRESENTING A SIGNIFICANT SEVERE WEATHER THREAT. HOWEVER, LET ME SHOW YOU THE LATEST WINTER WEATHER ALERTS. WHILE THE MAIN PART OF THE STATE IS CLEAR, WINTER WEATHER ADVISORIES AND WARNINGS HAVE BEEN ISSUED FOR PARTS OF THE FAR WESTERN OKLAHOMA PANHANDLE AND INTO THE TEXAS PANHANDLE. I JUST RECEIVED AN UPDATE FROM THE WEATHER SERVICE; IT SEEMS THIS WILL BE THE FOCUS OF MOST ALERTS. RIGHT NOW, WE’RE STUCK WITH CLOUDY AND COOL CONDITIONS, WITH TEMPERATURES IN THE LOWER TO MID-50S. IT’S A CHILLY DAY, WITH 50 IN EDMOND AND MIDWEST CITY AS WELL AS WESTERN OKLAHOMA. LET’S TRACK THE NEXT ROUND OF STORMS COMING OUR WAY. THERE’S A SLIGHT CHANCE OF ISOLATED QUARTER-SIZE HAIL EXTENDING FROM PAULS VALLEY TO HOLDENVILLE TONIGHT, WITH LARGER HAIL POSSIBLE IN SOUTHEASTERN OKLAHOMA. TONIGHT SHOULD BE WET WITH A FEW THUNDERSTORMS, BUT NOT MUCH OF A SEVERE WEATHER THREAT. RIGHT NOW AT 3 A.M., WE CAN EXPECT SIGNIFICANT RAIN IN WESTERN OKLAHOMA. RAIN WILL MOVE INTO THE OKC METRO COURTESY OF A FEW RUMBLES OF THUNDER — EXPECT HEAVY RAIN EARLY IN THE MORNING ACROSS EDMOND, NORMAN, PAULS VALLEY, AND ARDMORE. THIS WILL START THE DAY WITH GOOD SOAKING RAINFALL BEFORE SOME DRIER AIR MOVES IN THE AFTERNOON. CHECK OUT THE SNOW TO THE WEST; WE’LL KEEP TRACK OF HOW MUCH WILL FALL. I’LL PROVIDE A SNOW ACCUMULATION MAP SHORTLY. ABBY, BACK TO YOU.



Oklahoma County files annual financial report ahead of schedule

Oklahoma County Clerk Maressa Treat has presented the fiscal year 2023 Annual Comprehensive Financial Report to Moody’s Investors Service, Inc., well before the extended deadline set by the agency.


Oklahoma County Clerk Maressa Treat has submitted the fiscal year 2023 Annual Comprehensive Financial Report to Moody’s Investors Service, Inc. ahead of the extended deadline. Watch the video above for the latest headlines from KOCO 5. The report was sent on March 24, accompanied by the Independent Auditor’s Report signed by State Auditor Cyndi Byrd. Treat indicated that Moody’s evaluation of Oklahoma County’s rating following the report submission should be completed within a few weeks as per a news release. She anticipates that the county will maintain its Aa1 bond rating based on the fiscal year 2023 ACFR. “Transparency and the County’s finances are my office’s highest priority,” Treat stated. “We have been and will continue to proactively engage with the State Auditor’s office and Moody’s on future reports. Oklahoma County’s economy remains robust, and its underlying credit profile and economic conditions are steady. We have enjoyed a strong bond rating for many years and I expect this trend to persist.”

OKLAHOMA CITY —

Oklahoma County Clerk Maressa Treat has submitted the fiscal year 2023 Annual Comprehensive Financial Report to Moody’s Investors Service, Inc. ahead of the extended deadline.

Watch the video player above for additional headlines from KOCO 5.


The report was submitted on March 24, alongside the Independent Auditor’s Report signed by State Auditor Cyndi Byrd.

Treat mentioned that Moody’s review process for Oklahoma County’s rating after receiving these reports should conclude in a few weeks, according to a news release.

Considering the fiscal year 2023 ACFR, Treat expects the county to maintain its Aa1 bond rating.

“Ensuring transparency in county finances is our primary goal,” Treat noted. “We will continue to work closely with the State Auditor’s office and Moody’s in future reports. Oklahoma County’s economy is strong, and our credit profile and economic factors remain unchanged. The county has had an excellent bond rating for years, and I foresee this continuing.”

The financial data in the audited ACFR, along with additional economic parameters, is what Moody’s and other rating agencies utilize to assign bond ratings to entities like Oklahoma County, according to officials in a news release.

“Bond ratings enable potential investors to gauge the creditworthiness and risk linked to a bond issuer. Currently, Oklahoma County holds an Aa1 rating, which is regarded as the highest or best rating attainable for a political subdivision. A higher bond rating results in lower interest rates for the entity issuing bonds. Consequently, Oklahoma County’s Aa1 rating allows taxpayers to incur lower borrowing costs for projects like the planned new county detention center,” Oklahoma County officials indicated in the release.

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Treat expressed gratitude for those who contributed to delivering the necessary information to the rating company ahead of the deadline.

“State auditors and my finance team collaborated effectively to finalize the audited FY23 ACFR. I sincerely appreciate State Auditor and Inspector Cindy Byrd and her team for their expertise, support, and professionalism throughout this process. State Auditor Byrd prioritized Oklahoma County’s ACFR. I’m also thankful for my finance team and our external accounting firm, Crawford and Associates, for their diligent work. Additionally, I want to recognize my colleagues on the Budget Board for their prompt responses to the state auditors regarding additional information and meeting scheduling,” Treat concluded.

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