For the 29th consecutive year, Suffolk County has been awarded a Certificate of Achievement for Excellence in Financial Reporting by the Government Finance Officers Association of the United States and Canada for its 2011 Annual Financial Report.
According to a statement from the association, the distinction represents the “highest form of recognition in the area of government accounting and financial reporting, and its attainment represents a significant accomplishment by a government and its management.”
The organization also noted that the county’s 2011 financial statements were judged by an impartial panel to meet the high standards of the program including demonstrating a constructive “spirit of full disclosure” to clearly communicate its financial story and motivate potential users and user groups to read them.
“On behalf of Suffolk County and its residents, I am very pleased to receive this national award,” said Suffolk County Comptroller Joseph Sawicki Jr. “This accomplishment speaks highly of our financial reporting and sends a strong message to Wall Street and financial institutions across the nation that our accounting practices are ranked No. 1. National recognition like this earns us the confidence of Wall Street Bond Rating agencies which allows our county to borrow at lower interest rates.”
The Government Finance Officers Association of the United States and Canada is a nonprofit professional association serving approximately 16,000 government finance professionals with offices in Chicago and Washington, DC.