News

County earns two national awards for financial management

The Government Finance Officers Association (GFOA) of the United States and Canada has awarded Cabarrus County the Certificate of Achievement for Excellence in Financial Reporting for the 33rd consecutive year and the Distinguished Budget Presentation Award for the 20th consecutive year.

The awards were recently presented to the Cabarrus County Finance Department.

Certificate of Achievement for Excellence in Financial Reporting

The Certificate of Achievement for Excellence in Financial Reporting award was in recognition of the County’s FY17 Comprehensive Annual Financial Report (CAFR)—a year-end evaluation of the budget that closed on June 30, 2017.

The certificate is the highest form of recognition in governmental accounting and financial reporting and is considered a significant accomplishment by the County and its management.

According to the GFOA, the County’s report demonstrated a constructive “spirit of full disclosure” to clearly communicate the financial story and motivate residents and other stakeholders to read the report.

Distinguished Budget Presentation Award

The Distinguished Budget Presentation Award was presented in recognition of the County’s FY18 budget, which ran from July 1, 2017 through June 30, 2018.

The award represents a significant achievement by Cabarrus County, reflecting the commitment of the Board of Commissioners and staff to meeting the highest principles of governmental budgeting.

To receive the budget award, Cabarrus had to satisfy nationally recognized guidelines for effective budget presentation. The guidelines assess how well the budget serves as a policy document, financial plan, operations guide and communications device.

The GFOA must rate the budget documents as “proficient” in all four categories and the 14 mandatory criteria within those categories to receive the Distinguished Budget Presentation Award.

The award is the only national awards program for governmental budgeting. There are more than 1,600 participants in the budget award program. Recipients have pioneered efforts to improve the quality of budgeting and provide an excellent example for other governments throughout North America.

The GFOA is a major professional association servicing the needs of more than 19,000 appointed and elected local, state and provincial government officials and other finance practitioners.

 

Related News