By Danita Boonchaisri
PRINCE FREDERICK, Md. (Jan. 15, 2009)—Calvert County’s Department of Finance and Budget was recently awarded a Certificate of Achievement for Excellence in Financial Reporting by the Government Finance Officers Association of the United States and Canada (GFOA) for its comprehensive annual financial report (CAFR). The GFOA is a nonprofit professional association serving approximately 17,000 government finance professionals.
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. In a statement, GFOA noted that the award “reflects the commitment of the governing body and staff to meeting the highest principles of government budgeting.”
The CAFR was judged by an impartial panel and deemed to meet the highest standards and demonstrate a “spirit of full disclosure” that clearly communicated the County’s financial story while motivating potential users to read the document.
Terry Shannon, director of the Calvert County Department of Finance and Budget was honored by the recognition. “My staff and I are careful stewards of taxpayer funds,” she said. “Our day-to-day work as professional financial managers involves meticulous budgeting, reporting and accounting for all the assets in the County’s coffers. To be nationally recognized by an association of our peers for doing our jobs in an exemplary fashion is extremely rewarding,” she said.
The Calvert County Department of Finance and Budget is responsible for maintaining the budget and accounting records for the County. This includes preparation of The Official Statement for bond issuance, management of the County operating budget and the capital improvements program budget, oversight of purchasing, billing, investments, retirement and pension funds and employee benefits.