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Modified: February 25, 2019 9:37am
Created: February 25, 2019 9:37am

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February 25, 2019

Erie County Comptroller Stefan I. Mychajliw Jr. announces that for the second time this year, his office has received national recognition for its reporting skills. The Government Finance Officers Association of the United States and Canada (GFOA) notified Comptroller Mychajliw that his 2017 fiscal year-end Comprehensive Annual Financial Report (CAFR) was awarded the Certificate of Achievement for Excellence in Financial Reporting. 

Comptroller Mychajliw has earned this prestigious award every year since taking office.  

“One of the most important documents that my office generates each year is the CAFR. The comprehensive report is used is an all-encompassing audited financial report for Erie County as a whole. Not only was my office honored, it was applauded for being an example that all other municipalities should follow. The leadership that my office demonstrates is driven by our commitment to best serve the taxpayers of the county. It is through our diligence that I ensure transparency and a clear understanding of the county’s fiscal health,” said Comptroller Mychajliw. 

The honor from GFOA, reads in part: “The Certificate of Achievement is the highest form of recognition in governmental accounting and financial reporting, and its attainment represents a significant accomplishment.” 

Earlier this year, the Comptroller’s Office was also honored for its 2017 Popular Annual Financial Report (PAFR), a condensed version of the CAFR. The county must meet high standards to achieve awards for both the CAFR and PAFR. The GFOA established the Certificate of Achievement for Excellence in Financial Reporting Program (CAFR Program) in 1945 to assist state and local governments to go beyond the minimum requirements of generally accepted accounting principles to prepare comprehensive annual financial reports that evidence the spirit of transparency and full disclosure and then to recognize individual governments that succeed in achieving that goal. 

Reports submitted to the CAFR program are reviewed by selected members of the GFOA professional staff and the GFOA Special Review Committee (SRC), which includes finance professionals with expertise in public sector financial reporting and includes financial statement preparers, independent auditors, academics, and other accounting professionals. GFOA’s Awards for Excellence recognize innovative contributions in the field of government finance and leading examples of best practice implementation. 

The County’s award-winning CAFR can be found at under the “Financial” tab, listed as “Financial Statements.”

For a copy of the press release, please CLICK HERE