HomeMy WebLinkAboutAgenda - 11-20-2012 - 4b
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ORANGE COUNTY
BOARD OF COMMISSIONERS
ACTION AGENDA ITEM ABSTRACT
Meeting Date:November 20, 2012
Action Agenda
Item No.4-b
SUBJECT:
Government Finance Officers’ Association (GFOA)Certificate of Achievement
Award
No
DEPARTMENT:PUBLIC HEARING: (Y/N)
Financeand Administrative
Services
ATTACHMENT(S):
INFORMATION CONTACT:
Attachment 1. GFOA Announcement
Letter to Orange CountyClarence Grier, 919-245-2453
Attachment 2. GFOA Press Release
Attachment 3. Paper Copy of GFOA
Plaque
PURPOSE:
To recognize the Financial Services staffof the Orange County Finance and
Administrative Services Department for earning the Government Finance Officers’ Association
(GFOA) Certificate of Achievement for the June 30, 2011 Comprehensive Annual Financial
Report(CAFR).
BACKGROUND:
GFOA is an internationally recognized organization thatoffers guidance and
support to local and state government budget and finance professionals throughout the United
States and Canada. The GFOA Certificate of Achievement is the highest form of recognition a
government can receive in the areas of governmental accountingand financial reporting. The
attainmentof the award represents a significant achievement by a government and its
management. In order to receive this award, the County must publish an easily readable and
efficiently organized CAFR. Additionally, the County’s CAFR must undergoa stringent program
of review to assessif the County has proficiently applied governmental accounting and financial
reporting for the fiscal year under review. The Report must satisfy both generally accepted
accounting principles and applicable legal requirements.
This year marks the thirtiethyear that Orange County has received the GFOA Certificate of
Achievement. A Certificate of Achievement is valid for a period of one year only. Eligibility
standards, reviews, and expectations for the award have become more complex, demanding
and stringent each year. County staffbelieves that theCAFR for the fiscal year ended June 30,
2012 will meet the Certificate of Achievement Program requirements and will be submitting it to
the GFOA.
FINANCIAL IMPACT:
There is not a financial impact of accepting this award.
RECOMMENDATION(S):
The Manager recommends that the Board recognize the Financial
Services Director and staff for receipt of the GFOA Certificate of Achievementand present the
GFOA plaque to them.
Attachment1
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Attachment2
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Attachment3
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