HomeMy WebLinkAboutAgenda - 10-09-2007-3aORANGE COUNTY
BOARD OF COMMISSIONERS
ACTION AGENDA ITEM ABSTRACT
Meeting Date: October 9, 2007
Action Agenda
Item No.~_
SUBJECT: Certificate of Achievement for Excellence in Financial Reporting
DEPARTMENT: Finance PUBLIC HEARING: (Y/N) No
ATTACHMENT(S): INFORMATION CONTACT:
Certificate Laura Blackmon, 919-245-2300
PURPOSE: To recognize the staff of the Orange County Finance Department for earning the
Government Finance Officers' Association (GFOA) Certificate of Achievement for Excellence in
Financial Reporting for the fiscal year ended June 30, 2006.
BACKGROUND: The GFOA is the recognized international organization providing guidance
and support to local and state government finance professionals throughout the United States
and Canada. The GFOA's Certificate of Achievement recognizes excellence in the preparation
and presentation of annual audits and financial reports. The purpose of the certificate of
achievement program is to encourage and assist governmental units to prepare financial reports
of the highest quality for the benefit of citizens and other parties with a vital interest in a unit's
finances. During the half century the program has operated, it has gained widespread
recognition as the premier indicator of excellence in governmental accounting and financial
reporting. Its attainment represents a significant achievement by a governmental entity and its
financial management team.
The Orange County Finance Department has been awarded the GFOA Certificate of
Achievement every year since 1982. To earn the certificate of achievement for excellence in
financial reporting, the County's financial statements had to substantially conform to the
program's demanding criteria, which go well beyond the minimum requirements of generally
accepted accounting principles. Each year, eligibility standards and expectations for the award
become more stringent. Finance Director Ken Chavious and his staff are commended for their
ability to consistently maintain the high standards embodied in the attainment of this annual
award.
FINANCIAL IMPACT: None
RECOMMENDATION(S): The Manager recommends that the Board recognize the Finance
Director and his staff for their attainment of the GFOA Certificate of Achievement, and present
to them the plaque provided by the GFOA.
O
Certificate of
.A.chievement
for Excellence
in Financial
Reporting
Presented to
Orange County
North Carolina
For its Comprehensive Annual
Financial Report
for the Fiscal Year Ended
June 30, 2006
A Certificate of Achievement for Excellence in Financial
Reporting is presented by the Govemment Finance Officers
Association of the United States and Canada to
government units and public employee retirement
systems whose comprehensive annual financial
reports (CAFRs) achieve the highest
standazds in government accounting
and financial reporting.
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