Wednesday November 04, 2020

County earns national awards for financial management and reporting

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 35th consecutive year.

The award was presented to the Cabarrus County Finance Department.

The Certificate of Achievement for Excellence in Financial Reporting award was in recognition of the County’s FY19 Comprehensive Annual Financial Report (CAFR)—a year-end evaluation (or audit) of the budget that closed on June 30, 2019.

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 GFOA, the County’s report demonstrated a constructive “spirit of full disclosure” to clearly communicate the financial story and motivate potential users and user groups to read the document.

The County's CAFR presents the financial statements in three distinct sections:

  • An introductory section containing general information about the structure, services and environment of the County.
  • A financial section that includes basic financial statements found at the core of financial reporting, including government-wide financial statements, fund financial statements and notes for the statements. The financial section also includes information on individual funds.
  • A statistical section that provides trend data and non-financial data useful in interpreting the basic financial statements and important for evaluating economic condition.

Cabarrus County’s independent auditor Elliott Davis, PLLC presented an unmodified opinion of the 2019 CAFR for fiscal year 2019. The CAFR was approved by Cabarrus Board of Commissioners at its December 16 meeting.

Outstanding Achievement in Popular Annual Financial Reporting

Cabarrus also earned the GFOA Award for Outstanding Achievement in Popular Annual Financial Reporting for its Popular Annual Financial Report for the fiscal year ended June 30, 2019.

The award was presented to the Cabarrus County’s finance, and communications and outreach departments.

The Award for Outstanding Achievement in Popular Annual Financial Reporting is a prestigious national award that recognizes conformance with the highest standards for preparation of state and local government popular reports.

In order to receive an Award for Outstanding Achievement in Popular Annual Financial Reporting, a government unit must publish a Popular Annual Financial Report, whose contents conform to program standards of creativity, presentation, understandability and reader appeal.

For more information or to view the CAFR, visit www.cabarruscounty.us/resources/comprehensive-annual-financial-reports.

To view Cabarrus County’s PAFR, visit https://cabarruscounty.us/resources/popular-annual-financial-reports.  

About the GFOA

The GFOA is a major professional association servicing the needs of more than 20,000 appointed and elected local, state and provincial government officials and other finance practitioners.

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