County Earns Financial Reporting Award

For the 21th consecutive year, York County has earned an award recognizing the excellence of its financial reporting.

The York County Controller’s Office recently was notified 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 2011 Comprehensive Annual Financial Report (CAFR).

“That York County has received this award for 21 consecutive years underscores our continuing commitment to accurate, comprehensive and transparent accounting,” Green said. “Our goal is to ensure that the community, along with investors and credit-rating agencies, get a complete picture of the county’s 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 the area of governmental accounting and financial reporting, and its attainment represents a significant accomplishment by a government and its management,” according to the organization.

York County earned the award by meeting the high standards of the GFOA’s program, including demonstrating a “spirit of full disclosure” in communicating its financial story, according to GFOA.

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