Modified: February 4, 2020 11:49am
Created: February 3, 2020 5:01pm
Erie County Comptroller Stefan I. Mychajliw, Jr. is pleased to report that his office has once again been recognized by an international accounting organization for its excellence in financial reporting, demonstrating that the Office of Erie County Comptroller is keeping a close watch on taxpayer dollars, and properly reporting the fiscal health of Erie County.
“I am very proud of my hard working staff. They put forth a tremendous effort year in and year out serving taxpayers. Under the leadership of my office, our county finances are the strongest they’ve ever been. I’m thrilled that a highly respected, international accounting agency recognizes the great work we put in,” said Erie County Comptroller Stefan I. Mychajliw.
The Certificate of Achievement for Excellence in Financial Reporting is given by the Government Finance Officers Association of the United States and Canada (GFOA) for its comprehensive annual financial report (CAFR). Comptroller Mychajliw and his team have been the recipients of this award every year since he has taken office.
“This shows that we are closely monitoring how every penny is spent in Erie County. We properly report our accounting findings back to ensure proper oversight of our county’s finances. It is an honor to serve as the ‘Taxpayer’s Watchdog’ and an even higher honor to be recognized nationally for our accounting excellence,” said Mychajliw.
According to the Government Finance Officers Association, this “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.”
The GFOA went on to say, “we hope that your example will encourage others in their efforts to achieve and maintain an appropriate standard of excellence in financial reporting.”
The international accounting program sets very high standards. The Comprehensive Annual Financial Reports (CAFR) are judged by an impartial panel, which looks into how the reports demonstrate a constructive spirit of full disclosure to clearly communicate its financial history and health. The GFOA established this program 75 years ago in order to assist state and local governments prepare comprehensive annual financial reports in the spirit of transparency.