The Albemarle County Finance Department has been awarded the Certificate of Achievement for Excellence in Financial Reporting by the Government Finance Officers Association of the United States and Canada.
This award recognizes the county’s comprehensive annual financial report and is the highest form of recognition in the area of governmental accounting and financial reporting.
“Albemarle County prioritizes communicating with integrity and full transparency,” said Chief Financial Officer Bill Letteri. “Receiving this award affirms the measures the County takes to operate in an atmosphere of openness and honesty. It is an honor to be recognized for this significant accomplishment.”
The GFOA established the Certificate of Achievement for Excellence in Financial Reporting Program (CAFR Program) in 1945 to encourage and assist state and local governments to go beyond the minimum requirements of generally accepted accounting principles to prepare comprehensive annual financial reports that evidence the spirit of transparency and full disclosure and then to recognize individual governments that succeed in achieving that goal.
The goal of the program is not to assess the financial health of participating governments, but rather to ensure that users of their financial statements have the information they need to do so themselves.
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