HomeMy WebLinkAboutAgenda - 11-02-2005-7bORANGE COUNTY
BOARD OF COMMISSIONERS
ACTION AGENDA ITEM ABSTRACT
Meeting Date: November 2, 2005
Action Agenda
Item No. 7 b
SUBJECT: Certificate of Achievement for Excellence in Financial Reporting
DEPARTMENT: County Manager
PUBLIC HEARING: (Y/N) No
ATTACHMENT(S):
Certificate
INFORMATION CONTACT:
Rod Visser, 245-2308
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, 2004,
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, the 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.
Out of all units of government in North Carolina, less than 300 received the certificate of
achievement far the fiscal year ended June 30, 2003. 49 of the 100 North Carolina counties
received the award last year. 2004 figures for North Carolina local governments are incomplete
at this time.
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.
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Certificate of
Achievement
for Excellence
in Financial
Reporting
Presented to
Orange County,
North Carolina
For its Comprehensive Annual
Financial Report
for the Fiscal Yeaz Ended
.Tune 30, 2004
A Certificate of Achievement for Excellence in Financial
Reporting is presented by the Government Finance Off cers
Association of the United States and Canada to
govemment units and public employee retirement
systems whose comprehensive annual financial
reports (CAFRs) achieve the highest
standards in government accounting
and fmancial reporting.
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