Lincoln County has received another Certificate of Achievement for Excellence in Financial Reporting for the fiscal year ending June 30, 2019.
Finance Director, Christina Shearer, who presented the award during Monday’s Board of Commissioners meeting said “Lincoln County takes the extra effort to go beyond the minimum accepted accounting principles. It feels good to see our hard work recognized: we have demonstrated the highest standards of reporting transparency. Our management team, finance staff and community can be proud of this.”
The award given by the Government Finance Officers Association of the United States and Canada (GFOA) and is the highest form of recognition in the area of governmental accounting and financial reporting. Its attainment represents a significant accomplishment by the County’s government and its management.
The finance department prepares the Comprehensive Annual Financial Report (CAFR) of Lincoln County each fiscal year. This report is published to provide the Board of Commissioners, county staff, and community with detailed information concerning the financial position and activities of the County. County management is responsible for both the accuracy of the presented data and the completeness and fairness of the presentation, including all disclosures.
“The County strives for this recognition every year," Commissioner Kaety Jacobson said. "After receiving the award so many times the public might get the impression that this is easy to come by. But, the fact is, the award is hard earned. The award demonstrates that we have a complete financial picture that is of the highest standard.”
State statutes (ORS 297.465) require that Lincoln County prepare a complete set of year-end financial statements and have them audited in accordance with generally accepted accounting standards by an independent certified public accounting firm licensed to perform municipal audits in Oregon.
The CAFR has been 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 the potential users and user groups to read the CAFR which is available online in the Finance section of the Lincoln County web site.