Community Corner

Washington County Earns 27th Straight Certificate of Achievement in Financial Reporting

From Washington County:

The Washington County Board of Commissioners was presented Sept. 17 with the county’s 27th consecutive Certificate of Achievement for Excellence in Financial Reporting from the Government Financial Officers Association for the county’s 2011 Comprehensive Annual Financial Report.

The award is intended to recognize and encourage excellence in financial reporting by state and local governments. The county's consistent participation in the program demonstrates its commitment to quality financial management practices and open and clear communication with its residents. The award has a direct impact when rating agencies assess the county's financial practices during the bond issuance process.

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Nationally, 16.4 percent counties receive this achievement in financial reporting, and 14.9 percent of Minnesota’s counties receive the award.

The board also reviewed the results of the 2012 annual financial audit. The county’s total fund balance increased during the past year, and the county has approximately 5.6 months of expenditures in its fund balance. The report also noted the county’s long-term obligations, namely through the general obligation bonds it has sold.

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