FOR IMMEDIATE RELEASE
CONTACT: Ralph T. Meacham, CPA (330) 740-2010
February 6, 2019
Mahoning County Receives Financial Award
Financial Reporting Recognized for Excellence
Mahoning County - Auditor Meacham is pleased to announce that Mahoning County's Comprehensive Annual Financial Report (CAFR) has again been awarded the Certificate of Achievement for Excellence in Financial Reporting by the Government Finance Officers Association of the United States and Canada (GFOA).
A CAFR is a report of financial statements for a governmental entity that complies with Ohio Administrative Code that requires reporting on a Generally Accepted Accounting Principles (GAAP) basis within 150 days of fiscal year end. This report contains the financial statements and other financial and statistical data which ensures the complete and full disclosure of all material financial aspects of Mahoning County for 2017. Ohio law requires independent audits to be performed on all financial operations of the County either by the Auditor of State or an independent public accounting firm, if permitted by the Auditor of State and the Auditor of State rendered an opinion on the County's financial statements as of December 31, 2017 and their report is included in the CAFR.
CAFR's are judged by an impartial panel to meet the high standards of the program, which includes demonstrating a constructive "spirit of full disclosure" to clearly communicate its financial story. According to the GFOA, 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 a government and its management.
Additionally, Mahoning County's Popular Annual Financial Report (PAFR) was deemed to substantially meet the requirements of the PAFR program as established by GFOA. The PAFR is similar to the CAFR but is presented in a format that is easy to understand by those without a background in public finance or accounting. It is designed for readers who would like to review financial and operational information in a summarized format and also provides non-financial information to give users a better understanding of the county as a whole.
"I thank the entire staff of the Auditor's Office for their efficient and cooperative work throughout this project and the Auditor of State of Ohio in completing our annual audit and review. I am honored to work with such dedicated and professional people. This is just another example of our commitment to transparency in government,” Meacham stated.
Both reports can be found on the Auditor's page of the Mahoning County Communicator website at: www.mahoningcountyoh.gov.