County Earns Financial Reporting Award

For the 23th consecutive year, York County has earned an award recognizing the excellence of its financial reporting.

The York County Controller’s Office was recently notified that the county has been awarded the Certificate of Achievement for Excellence in Financial Reporting by the nonprofit Government Finance Officers Association of the United States and Canada (GFOA).

This award was presented to Controller Robb Green, on behalf of the county, for the quality of the county’s 2013 Comprehensive Annual Financial Report (CAFR).

“The receipt of this award for 23 consecutive years highlights our continuing commitment to excellence in accounting,” Green said. “Our goal is to ensure that York County residents, credit-rating agencies and investors get a thorough understanding of the county’s strong financial position.”

The comprehensive annual financial report outlines actual expenses and revenues in a given year, and provides an accounting of a government agency’s assets and liabilities. It provides information used by investment companies and rating agencies to determine the county’s financial integrity and set bond rates.

Based on the strength of the county’s financial position, Standard & Poor’s in 2010 upgraded the county’s credit rating to AA from AA-. The improvement reduces borrowing costs when the county issues bonds for capital improvements or other projects.

This certificate awarded by GFOA is the “highest form of recognition in governmental accounting and financial reporting, and its attainment represents a significant accomplishment by a government and its management,” according to the organization.

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