Fairfax County Wins Four Awards for Excellence in Financial Reporting


Fairfax County Office of Public Affairs
12000 Government Center Parkway, Suite 551
Fairfax, VA 22035-0065
703-324-3187, TTY 703-324-2935, FAX 703-324-2010

Oct. 19, 2004

 

Fairfax County Wins Four Awards for Excellence in Financial Reporting

 

Once again, both Fairfax County’s Comprehensive Annual Financial Report (CAFR) and the annual budget have been recognized by the Government Finance Officers Association (GFOA) for excellence in financial reporting and budgeting. GFOA is a nonprofit professional association, with approximately 16,000 members in the United States and Canada, dedicated to the sound management of government financial resources.

For the 27th consecutive year, the county received the Certificate of Achievement for Excellence in Financial Reporting from GFOA for the CAFR for the fiscal year that ended June 30, 2003. The Certificate of Achievement is the highest form of recognition in the area of governmental accounting and financial reporting, and its attainment represents a significant accomplishment by Fairfax County. In order to be awarded a Certificate of Achievement, a government must publish an easily readable and efficiently organized comprehensive annual financial report. The report must satisfy both generally accepted accounting principles and applicable legal requirements. Fairfax County’s CAFR for FY 2003 was judged by an impartial panel to meet the high standards of GFOA’s award program, which included demonstrating a constructive “spirit of full disclosure” that clearly communicates the financial story and motivates potential users to read the CAFR.

For the past 19 years, Fairfax County has also submitted its annual budget for consideration for GFOA’s Distinguished Budget Presentation Award and has earned that award each of those years. In September, GFOA notified the county that the FY 2005 budget met the criteria for this award, which represents the highest form of recognition in governmental budgeting and reflects the commitment of the governing body and staff in meeting the highest principles of public budgeting. To receive this award, a budget must be judged proficient in each of four major categories – as a policy document, financial plan, operations guide and communications guide.

County officials were notified last month by the International City/County Management Association (ICMA) that Fairfax County earned that organization’s highest performance measurement award, the Certificate of Distinction, for its efforts. That award was presented recently in San Diego at ICMA’s annual conference and recognizes the county’s efforts to incorporate performance data into decision-making, nurture the program through training and process improvement, and share its successes via networking with others.

In April 2004, Fairfax County was also a co-winner (with Miami-Dade County) of the City and County Performance Management Award, presented at the Fourth Annual City and County Innovations Summit. The award was presented by The Performance Institute, a private, nonpartisan think tank dedicated to improving government through the principles of performance, competition, transparency and accountability.

The Performance Management Award recognizes outstanding contributions in performance-based management in five core functional areas: strategic planning, budgeting, human resources management, information technology and procurement/contracting. Fairfax County’s recent effort to establish strategic linkages in the annual budget between the county’s core purpose and vision elements formed the basis for earning this award. This included linking resources with services, particularly the countywide and agency-specific performance measures that demonstrate accountability for achieving the strategic vision.

For more information, contact the Department of Management and Budget at 703-324-3009, TTY 711.



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