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Home My WebLink AboutMINUTES - 01241995 - H.B C>C:) •. --ice • .� � • / I� TO: BOARD OF SUPERVISORS Contra = FROM: Kenneth J . Corcoran , Auditor-Controller -' Costa County DATE: January 24 , 1995 r� SUBJECT: Comprehensive Annual Financial Report for year ended June 30 , 1994 SPECIFIC REQUEST(S)OR RECOMMENDATION(S)&BACKGROUND AND JUSTIFICATION RECOMMENDATION : Receive this report , the Comprehensive Annual Financial Report ( CAFR) for the year ended June 30 , 1994 . FINANCIAL IMPLICATIONS : Receipt of this report h'as no direct financial implications . However , publishing audited financial statements which satisfy both generally accepted accounting principles and applicable legal requirements has proved beneficial in obt_a-i.ning the highest ratings by Standard and Poor ' s Corporation and. Moody ' s Investor Services on our .various debt issues . BACKGROUND : Section 25253 of the Government Code of the State of California requires : "Annually the board shall cause to be prepared and published a statistical report showing in compendious form all the financial transactions of the county for the last fiscal year . . . " . For over 50 years the policy of the County has been to require an annual audit of the financial statements of the county by indepen- dent certified public accounts . 13 year ago , our office decided to publish our annual reports in compliance with the Government Accounting Standards Board which allows us to apply for the Govern- ment Finance Officers Association ' s Certificate of Achievement for Excellence in Financial Reporting . Contra Costa County received this award for 11 consecutive years .- The fiscal year 1993-94 report has been submitted for .review and we expect the Certi.ficate- will again be issued . CONTINUED ON ATTACHMENT: YESSIGNATURE: `V �r RECOMMENDATION OF COUNTY ADMINISTRATOR RECOMMENDATION OF BOARD COMMITTEE APPROVE OTHER SIGNATURE(S): ACTION OF BOARD ON January 24, 1995 APPROVED AS RECOMMENDED X OTHER ACCEPTED this report and PRESENTED K. J. Corcoran, County Auditor, with the placque attesting to receiving for 11 consecutive years this award. VOTE OF SUPERVISORS X - - - - I HEREBY CERTIFY THAT THIS IS A TRUE UNANIMOUS(ABSENT i AND CORRECT COPY OF AN ACTION TAKEN AYES: NOES: AND ENTERED ON THE MINUTES OF THE BOARD ABSENT: ABSTAIN: OF SUPERVISORS ON THE DATE SHOWN. CC: C A O ATTESTED January 24, 19 9 S Auditor-Controller PHIL BATCHELOR,CLERK OF THE BOARD OF SUPERVISORS AND COUNTY ADMINISTRATOR BY�'r�" DEPUTY M382 (10/88) RECEIVED SEP 1 21994 GOVERNMENT FINANCE OFFICERS ASSOCIATION CLERK BOARD OF SUPERVISORS CONTRA COSTA CO. 180 North Michigan Avenue,Suite 800,Chicago,Illinois 60601 312/977-9700•Fax:312/977-4806 September 6, 1994 Mr. Tom Powers Chair, Board of Supervisors, 1994 Contra Costa County County Administration 651 Pine Street, 1st Floor Martinez, CA 94553 Dear Mr. Powers : We are pleased to notify you that your comprehensive annual finan- cial report for the fiscal year ended June 30, 1993 qualifies for a Certificate of Achievement for Excellence in Financial Reporting. 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 . When a Certificate of Achievement is awarded to a government, an Award of Financial Reporting Achievement is also presented to the individual designated by the government as primarily responsible for its having earned the certificate . Enclosed is an Award of Financial Reporting Achievement for: Kenneth J. Corcoran, County Auditor-Controller. The Certificate of Achievement plaque will be shipped under sepa- rate cover in about eight weeks . We hope that you will arrange for a formal presentation of the Certificate and Award of Financial Reporting Achievement, and that appropriate publicity will be given to this notable achievement . To assist with this, a sample news release and the 1993 Certificate Program results are enclosed. We hope that your example will encourage other government offi- cials in their efforts to achieve and maintain an appropriate standard of excellence in financial reporting. Sincerely, GOVERNMENT FI CE OFFICERS ASSOCIATION Stephen J. Gauthier Director/Technical Services Center J� SJG/kas Enclosures WASHINGTON OFFICE 1750 K Street,N.W.,Suite 650,Washington,DC 20006 202/429-2750 • Fax:202/429-2755 GOVERNMENT FINANCE OFFICERS ASSOCIATION 180 North Michigan Avenue,Suite 800,Chicago,Illinois 60601 312/977-9700- Fax:312/977-4806 September 6, 1994 For information contact : NEWS RELEASE Stephen Gauthier (312) 977-9700 (Chicago) --The Certificate of Achievement for Excellence in Finan- cial Reporting has been awarded to: CONTRA COSTA COUNTY by the Government Finance Officers Association of the United States and Canada (GFOA) for its comprehensive annual financial report (CAFR) . The Certificate of Achievement is the highest form of recognition in the area of governmental accounting and finan- cial reporting, and its attainment represents a significant accomplishment by a government and its management . An Award of Financial Reporting Achievement has been awarded to the individual designated as primarily responsible for preparing the award-winning CAFR. This has been presented to: KENNETH J. CORCORAN, COUNTY AUDITOR-CONTROLLER The CAFR has been judged by an impartial panel to meet the high standards of the program including demonstrating a construc- tive "spirit of full disclosure" to clearly communicate its financial story and motivate potential users and user groups to read the CAFR. The GFOA is a nonprofit professional association serving 12, 625 government finance professionals with offices in Chicago, Illinois, and Washington, D.C. 30 - WASHINGTON OFFICE 1750 K Street,N.W.,Suite 650,Washington,DC 20006 202/429-2750- Fax:202/429-2755 PRESENTATION OF THE CERTIFICATE OF ACHIEVEMENT FOR EXCELLENCE IN FINANCIAL REPORTING The Certificate of Achievement for Excellence in Financial Reporting is the highest form of recognition for state and local governments. The Certificate program thereby advocates that recipients be formally recognized for their outstanding accom- plishments . If you would like a formal presentation of the Certificate of Achievement plaques, you should contact your GFOA State Representative. Your representative' s mailing address and phone number is as follows : North Dewey D. Evans Finance Director/Treasurer City of Monterey City Hall Monterey, CA 93940 408/646-3940 South Steve D. Temple Director of Finance City of Hemet 450 E. Latham Hemet, CA 92343 714/765-2330 �J �" o d � � Cl C-A Cl PA 41 ro" 0