Meeting Complex Financial Reporting Challenges
When the Lorain County Auditor’s Office began working with Rea in 2018, they were seeking more than just technical expertise – they needed a true partner who could help streamline their financial reporting processes and provide guidance on complex accounting requirements.
As Chief Deputy of Finance Tim Cochey explains, his responsibilities include overseeing critical functions including Tax Settlement, Payroll, Bookkeeping, Licensing, and Weights & Measures Departments. The office faced specific challenges around Governmental Accounting Standards Board (GASB) 33 Receivable reporting and Schedule of Expenditures of Federal Awards (SEFA) preparation. These essential components of their Annual Comprehensive Financial Report (ACFR) required precise attention to detail and deep understanding of government accounting principles.
The Power of Personal Connection
“What sets Rea apart is their ability to make you feel valued and prioritized,” shares Cochey. “Even though our advisor Anita manages multiple audits, we always feel like we’re a priority to her. The level of attention and care we receive is exceptional.”
The relationship began when Rea merged with their local CPA firm, but what started as a circumstantial partnership has evolved into a trusted advisory relationship. “Looking back, had there been a choice to make, we would’ve been hard-pressed to find a firm that would’ve worked better for our needs than Rea,” Cochey reflects.
Delivering Long-Term Value
The Auditor’s Office continues to rely on Rea for ACFR preparation and SEFA preparation services. These crucial deliverables help support their role as Chief Fiscal Officer of the County, where they manage property tax calculations, weights and measures verification, and various licensing requirements that directly impact Lorain County residents and businesses.
“I couldn’t recommend Rea enough,” concludes Cochey. “If you want an attentive, knowledgeable partner in your financial preparation, you don’t need to look any further.”
For government organizations seeking a dedicated advisory partner who understands the unique challenges of public sector financial reporting, Rea offers the perfect blend of technical expertise and personalized attention. Their approach demonstrates how building strong relationships and maintaining clear communication leads to successful long-term partnerships in public sector financial management.
