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posted: 1/13/2014 2:47 PM

McHenry County receives financial reporting awards

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Submitted by McHenry County

McHenry County has earned two financial reporting awards from the Government Finance Officers Association of the United States and Canada.

The Certificate of Achievement for Excellence in Financial Reporting for the County's Fiscal Year (FY) 2012 Comprehensive Annual Financial Report 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. This award has been received for 15 consecutive years. In addition, the county's Popular Annual Financial Report received the Award for Outstanding Achievement for Popular Annual Financial Reporting, representing the fifth consecutive year of receiving this award.

McHenry County Auditor Pam Palmer and Financial Reporting Manager James Bernier are primarily responsible for preparation of both the CAFR and the PAFR.

"The receipt of these awards speaks to the continued strength of the financial accounting and reporting processes that have been put into place, which are further supported by county policies and procedures that have been approved and implemented," Palmer said. "The PAFR is especially useful to citizens as it presents three perspectives that help to assess the county's overall financial health. Additionally, it is a summary of the detailed CAFR and presented in a format that is easy to read and understand."

The CAFR has been judged by an impartial panel to meet the high standards of the program. For the PAFR, a government unit must publish the report to conform to program standards of creativity, presentation, understandability and reader appeal.

Citizens can find both the McHenry County FY 2012 CAFR and the FY2012 PAFR and other financial reports on the county auditor's office webpage. The GFOA is a nonprofit professional association serving approximately 17,500 government finance professionals with office in Chicago and Washington, D.C.