Despite tire thefts, county wins financial award | RecordCourier.com

Despite tire thefts, county wins financial award

Staff Reports

There is a seeming divergence between a $1 million embezzlement from the motor pool and Douglas County's fourth award for excellence in financial reporting.

"We understand there is a lack of public trust with Douglas County finance given what has transpired over the last few years, but we will continue to work to include sound accounting checks and balances," said Douglas County Chief Financial Officer Terri Willoughby.

The county announced Tuesday that it once again received the Certificate of Achievement for Excellence in Financial Reporting by Government Finance Officers Association of the United States and Canada for its Comprehensive Annual Financial Report for the 2017 fiscal year.

The Certificate of Achievement is considered 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.

"As the new chief financial officer this solidifies that we have a very knowledgeable staff that prides itself in ensuring that Douglas County's financial statements are solid and well accounted for," said Willoughby.

Receiving this award shows that Douglas County government follows the generally accepted accounting principles and government auditing standards. The department that earns the award is primarily responsible for preparing the award-winning CAFR.

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The CAFR is judged by an impartial panel to meet the high standard of the program, which includes demonstrating a constructive "spirit of full disclosure" to clearly communicate its financial story.