Commentary: OK County Achieves Excellence in Financial Reporting

Article excerpt

The Government Finance Officers Association of the United States and Canada has once again awarded the Certificate of Achievement for Excellence in Financial Reporting to Oklahoma County for our comprehensive annual report.
The Award of Financial Reporting Achievement is awarded to the department or agency designated by the government as primarily responsible for preparing the award-winning Certificate of Achievement for Excellence in Financial Reporting.
This award has been presented to the Oklahoma County clerk's office for the fiscal year ended June 30, 2001. The certificate of achievement is the highest form of recognition in governmental accounting and financial reporting, and its attainment represents a significant accomplishment by a government and its management.
The award for Excellence in Financial Reporting is regarded as the premier form of recognition in the public finance profession. Receiving and maintaining the award is certainly no easy task, as each annual report is subjected to thorough scrutiny by the association reviewers for adherence to high standards of financial reporting.
Issues identified by reviewers from the previous year must be addressed in subsequent reports or the award maybe in jeopardy. New accounting standards must be followed and reflected appropriately in the report.
Oklahoma County has been the recipient of this award for eight previous years.
The Oklahoma County clerk first submitted the county's annual financial report to Government Finance Officers Association for its consideration in 1992. …