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County honored for excellence in finance and accounting

 

March 17, 2011



Snohomish County was recently recognized by the Government Finance Officers Association of the United States and Canada (GFOA) for its excellence in financial reporting and transparency.

“Sound fiscal management has put Snohomish County in a positive position that few governments in Washington state share,” said Snohomish County Executive Aaron Reardon. “This award from GFOA represents a significant accomplishment and recognition of our commitment to sound fiscal accountability.”

The GFOA awarded Snohomish County the Certificate of Achievement for Excellence, the highest form of recognition in the area of governmental accounting and financial reporting.

Reardon applauded the efforts of the County’s Finance department and their commitment to excellence. “During a financial crisis that has brought other governments to their knees, Snohomish County is in the black, fully transparent and meeting the highest levels of accounting standards,” Reardon said.

The GFOA established the Certificate of Achievement for Excellence in Financial Reporting Program (CAFR Program) in 1945 to encourage and assist state and local governments to go beyond the minimum requirements of generally accepted accounting principles. The GFOA promotes transparency and full disclosure, and recognizes governments that succeed in achieving that goal.

Reports submitted to the CAFR program are reviewed by selected members of the GFOA professional staff and the GFOA Special Review Committee, which comprises individuals with expertise in public-sector financial reporting and includes financial statement preparers, independent auditors, academics, and other finance professionals.

The GFOA is a professional nonprofit association serving approximately 17,500 government finance professionals.

 

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