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Financial reports receive awards

Posted On: November 14, 2019

Financial reports receive awards

As complex as they are meticulous, financial reports provide critical information on the fiscal health of an organization. And now, Volusia County’s comprehensive annual financial report and popular annual financial report have each received national awards of excellence from the Chicago-based from the Government Finance Officers Association (GFOA). Both annual awards are for the county’s financial reports covering the fiscal year that ended Sept. 30, 2018.

One of the awards is for the county’s 290-page, highly detailed comprehensive annual financial report, while the second recognized a more concise version designed to provide a user-friendly overview of Volusia’s financial picture to the public and non-financial experts. The county posts both reports on its website for easy public access. The briefer version of the financial report, called a popular annual financial report, was awarded GFOA’s outstanding achievement award. More recently, the county was notified in a Nov. 6 letter from GFOA that its full, comprehensive annual financial report earned the prestigious certificate of achievement for excellence.

“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,” wrote Michele Mark Levine, GFOA’s technical services center director in the letter notifying the county of the award.

Each one valid for a year, the awards are recognition that the county employs best professional practices in accounting for how it collects and spends public funds, according to Volusia County Chief Financial Officer Ryan Ossowski.

“We’re very proud to have received these awards,” said Ossowski. “They demonstrate the county’s ongoing commitment to sound financial controls and fiscal transparency. We’re dedicated to ensuring that our financial reports are produced in a clear and comprehensible format and are conveniently accessible to the public.”

Founded in 1906, the Government Finance Officers Association represents public finance officials throughout the United States and Canada and has more than 20,000 members. To qualify for the organization’s outstanding achievement award, a governmental annual financial report must conform to program standards for creativity, presentation, understandability and reader appeal.

“I’m pleased that the GFOA review confirmed that Volusia County is meeting the highest professional standards for financial reporting,” added Ossowski.

Volusia’s annual reports can be viewed at www.volusia.org/financial-reports.

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