County receives award for financial reporting | VailDaily.com
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County receives award for financial reporting

Veronica Whitney

For the fifth year in a row, Eagle County has won the Certificate of Achievement for Excellence in Financial Reporting. The award is the highest form of recognition in the area of governmental accounting and financial reporting.

“This award shows that the entire financial package – the budget – is accurate and easy to understand for the residents and taxpayers,” said Julie Snyder, county controller. “This should give confidence to the taxpayers that the county is doing a good job. Not only have we had the auditors giving us a clean opinion, but the Government Finance Officers Association has said the same. It’s a double vote of confidence.”

The Government Finance Officers Association of the United States and Canada – or, GFOA – selected the county for its 2002 comprehensive annual financial report. The GFOA is a nonprofit professional association serving approximately 14,000 government finance agencies with offices in Chicago and Washington, D.C.

“This is one of the top awards for budgeting reporting,” said Eagle County Administrator Jack Ingstad. “It shows professionalism in the work we do. We’ve had clean audits and ‘A’ bond ratings and that shows the solid financial condition we have in the county.”

See Award, page A10

It takes the county’s finance department and Ingstad, the county’s budget officer, eight months to put the budget together. Work starts in May and ends in December.

“This award recognizes the professional nature of how the budget is prepared and reported,” Ingstad said.

The Certificate of Achievement for Excellence in Financial Reporting encompasses not only the audited financial statements of Eagle County but explains the county’s economic condition and outlook. It also lists the county’s accomplishments for the year, including statistics that provides the reader a broader picture of Eagle County.

To win the award, Snyder said, the county had to meet detailed criteria.

“The budget includes so many different funds and it is hard work to make it understandable to the taxpayers – explaining where the money goes and how we’re using the money,” said Snyder, who does most of the number crunching. “You can still get the award if you’re not financially healthy. As long as it is an honest representation of the county’s financial situation.”

Veronica Whitney can be reached at 949-0555, ext. 454 or at vwhitney@vaildaily.com.


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