Title
PRESENTATION OF THE GOVERNMENT FINANCE OFFICERS ASSOCIATION (GFOA) CERTIFICATE OF ACHIEVEMENT FOR EXCELLENCE IN FINANCIAL REPORTING TO SEDGWICK COUNTY FOR THE 2012 COMPREHENSIVE ANNUAL FINANCIAL REPORT (CAFR).
Presented by: Chris Chronis, Chief Financial Officer.
RECOMMENDED ACTION: Receive and file.
Body
The 2012 Comprehensive Annual Financial Report was prepared by Finance staff and audited by the County's external auditor, Allen Gibbs & Houlik. It was submitted to the Government Finance Officers Association for consideration, and after peer review and comparison of the county's financial report to established criteria GFOA has awarded the Certificate of Excellence in Financial Reporting to Sedgwick County.
Certificates of Excellence are awarded to governments that satisfy the highest standards for preparation of governmental financial reports. In order to be awarded a Certificate of Achievement, a government must publish an easily readable and efficiently organized comprehensive annual financial report, the contents of which satisfy generally accepted accounting principles, applicable legal requirements, and established program standards of excellence.
Approximately 10% of eligible governments earn the award. This the 32nd consecutive year Sedgwick County has earned it, indicating a long history of consistent excellence in financial reporting by this government. This track record means citizens , taxpayers, and investors can rely on information derived from county financial reports with full confidence that it accurately states the county's fiscal performance.
The County's success in earning the Certificate for the 2012 report is a direct result of the efforts of Sara Jantz, Accounting Director, and the staff of the Accounting Department.
Alternatives: None
Financial Considerations: Receipt of the Certificate is a factor considered by rating analysts and investors, and has contributed to the County's bond rating of AAA by S&P, AAA f...
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