Dubuque County provides this management's discussion and analysis of its financial statements. This narrative overview and analysis of the financial activities is for the fiscal year ended June 30, 2023. We encourage readers to consider the information presented here in conjunction with the County's financial statements, which follow.

The assets and deferred outflows of the County exceeded the liabilities and deferred inflows at the close of the most recent fiscal year by $191,052,193 (net position).

The County's net position increased by $19,348,590.

As of the close of the fiscal year, the County's governmental funds reported combined ending fund balances of $55,012,254, an increase of $473,154 in comparison with the prior year.

At the end of the current fiscal year, unassigned fund balance for the general fund was $25,358,494 or 68.14% of total general fund expenditures.

Total long-term liabilities of the governmental activities decreased by $1,796,815 (6.02%) during the current fiscal year.

The annual report consists of a series of financial statements and other information, as follows:

Management’s Discussion and Analysis introduces the basic financial statements and provides an analytical overview of the County’s financial activities.

The Government-wide Financial Statements consist of a statement of net position and a statement of activities. These provide information about the activities of Dubuque County as a whole and present an overall view of the County's finances.

The Fund Financial Statements tell how governmental services were financed in the short term as well as what remains for future spending. Fund financial statements report Dubuque County's operations in more detail than the government-wide statements by providing information about the most significant funds. The remaining statements provide financial information about activities for which Dubuque County acts solely as an agent or custodian for the benefit of those outside of County government (Custodial Funds).

Notes to Financial Statements provide additional information essential to a full understanding of the data provided in the basic financial statements.

Required Supplementary Information further explains and supports the financial statements with a comparison of the County's budget for the year, the County's proportionate share of the net pension liability (asset) and related contributions, as well as presenting Schedule of Changes in County's Total OPEB Liability and Related Ratios and Notes.

Supplementary Information provides detailed information about the nonmajor governmental and the individual Custodial Funds. In addition, the Schedule of Expenditures of Federal Awards provides details of various federal programs benefiting the County.

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