Walworth County Receives Financial Information Awards | Local news

Walworth County Chief Financial Officer Jessica Conley has announced that Walworth County has received two awards from the Government Finance Officers Association: the Certificate of Achievement for Excellence in Financial Reporting for the year ending December 31, 2020 and the Distinguished Budget Presentation Award for the county. Budget document 2022.

This is the 19th consecutive year the county has received the Certificate of Achievement for Excellence in Financial Reporting and the 18th consecutive year the county has received the Distinguished Budget Presentation Award. To be considered, municipalities must be reassessed every year.

“Changes to both year-end financial reports and budget book documents continue to be required,” Conley said in a news release. “County finance staff work hard to understand and improve these documents to meet our overall goals of transparency and communication. Without the assistance of the departments and the support of the county board, these awards would not be possible.”

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Created in 1945, the Financial Information Certificate Program evaluates the information presented in a municipality’s annual financial report.

The program promotes transparency and full disclosure in government by recognizing exemplary financial reporting by state, provincial and local governments, as well as public universities and colleges, in the United States and Canada.

The guidelines established by the GFOA ensure that recipients meet nationally recognized guidelines for effective financial reporting and encourage recipients to go beyond minimum financial reporting requirements.

To qualify, recipients must have a proficiency rating or better in all categories. Overall, the review includes 17 main categories with hundreds of individual evaluation criteria. The report must satisfy both generally accepted accounting principles and applicable legal requirements.

The Budget Awards Program, established in 1984, recognizes best practices in budgeting and the use of nationally recognized budgeting guidelines throughout North America.

There are more than 1,700 participants in the Budget Awards Program. To earn recognition, budget documents must meet the program’s criteria and excel as a policy document, financial plan, operations guide, and communication device.

“These awards reflect Walworth County’s commitment to meeting the highest principles in the areas of government accounting, financial reporting and government budgeting,” County Administrator Mark Luberda said in the news release. “Achieving the awards represents a significant achievement by a government and its management.”


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About the Author: Chaz Cutler

My name is Chasity. I love to follow the stock market and financial news!