Yavapai County Honored for Excellence in Financial Reporting
Yavapai County has achieved a significant milestone by receiving the Certificate of Achievement for Excellence in Financial Reporting from the Government Finance Officers Association (GFOA) of the United States and Canada. This prestigious award was granted for the County’s Annual Comprehensive Financial Report (ACFR) for the fiscal year that ended on June 30, 2024.
This recognition is the highest form of acknowledgment in the field of governmental accounting and financial reporting. It symbolizes a remarkable accomplishment by both the County and its Finance Department, reflecting their dedication to transparency and fiscal responsibility.
Judged by Stringent National Standards
The GFOA’s award program is known for its rigorous evaluation process. An impartial panel of experts assessed Yavapai County’s report to determine if it met the program’s high standards. These include adhering to the principles of “full disclosure” and presenting financial data in a way that clearly communicates the County’s fiscal story. The goal is to make the report accessible and engaging for stakeholders and the general public.
“We are pleased to receive this recognition from the GFOA,” said Mary Mallory, Chair of the Yavapai County Board of Supervisors. “This award reflects our ongoing commitment to transparency, fiscal responsibility, and ensuring that our financial information is presented in a clear and easily understandable manner for our citizens.”
A Team Effort by the Finance Department
Along with the Certificate of Achievement, the GFOA also presented the Award of Financial Reporting Achievement (AFRA) to the department primarily responsible for preparing the award-winning report. In this case, that honor goes to the Yavapai County Finance Department. This distinction recognizes the team’s professionalism, diligence, and dedication in preparing a report that not only meets but exceeds national standards.
The Finance Department worked tirelessly to ensure the ACFR was not just accurate but also informative and accessible to the public. The award underscores the County’s strategic focus on maintaining a robust financial reporting system and fostering public trust through transparency.
About the GFOA and Its Mission
The Government Finance Officers Association serves more than 21,000 members across the United States and Canada. Founded in 1906, the organization promotes excellence in public finance by offering best practices, professional development, resources, and practical research to its members and the communities they serve.
The Certificate of Achievement for Excellence in Financial Reporting program was established in 1945. Its purpose is to encourage state and local governments to exceed the minimum requirements of generally accepted accounting principles (GAAP) in the preparation of their financial reports. The program aims to help governments produce comprehensive and transparent financial documents that support accountability and informed decision-making.
A Commitment to Fiscal Integrity
Yavapai County’s recognition by the GFOA is a testament to its long-standing commitment to fiscal integrity. By going beyond standard requirements and embracing best practices in financial reporting, the County sets an example for other local governments aiming to improve transparency and public engagement.
This achievement is particularly noteworthy in an era where public trust in government institutions is more essential than ever. By making financial information understandable and accessible, Yavapai County empowers its residents to stay informed and engaged with how public funds are managed and allocated.
Looking Ahead
Receiving the GFOA Certificate of Achievement is not just an honor—it’s a call to continue striving for excellence. Yavapai County plans to maintain its high standards in financial reporting and build upon this success in future fiscal years. The Finance Department remains committed to transparency, innovation, and public service as it continues to serve the needs of the community.
As Yavapai County moves forward, this award will serve as a benchmark for future reporting efforts and a reminder of the importance of clarity and accountability in public finance.
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