San Rafael, CA – For the fourth consecutive year, the Department of Finance has received the highest form of recognition in governmental accounting and financial reporting for its 2014 Comprehensive Annual Financial Report (CAFR).
The awarding organization, the Government Finance Officers Association (GFOA), is a nonprofit professional organization headquartered in Chicago and Washington, D.C. Their Certification of Achievement for Excellence recognizes financial reporting which embodies a “spirit of full disclosure”; which means it meets the organization’s highest standards in accuracy, clarity and transparency.
“Receiving the GFOA award over the last four years truly reflects the strong work ethic and high standards of the Department of Finance staff and management. I am truly fortunate to work with such a dedicated and motivated team,” said Roy Given, Director of Finance.
The Marin County Department of Finance first began preparing a Comprehensive Annual Financial Report in FY 2011. Prior to 2011, the department had issued a standard Annual Financial Report. Differences between the CAFR and the Annual Financial Report include the addition of a narrative and overview section to provide context, increased details on all financial accounting, and in-depth analysis to accompany financial statements.
Though the Department of Finance is responsible for compiling the CAFR, all financial statements are audited by Gallina LLP, a registered public accounting firm. The independent auditor’s report is included in the final published document.
The Certification of Achievement for Excellence is the highest honor the GFOA extends to municipal governments for their financial reports, and the County received the award for its 2011, 2012, 2013, and now 2014 CAFR.
The GFOA represents public finance officials in the U.S. and Canada, and boasts more than 18,000 members of federal, state/provincial, and local finance officials between the two countries.