Rockdale County’s Department of Finance Receives Second Consecutive Award of Excellence in Accounting Practices.
Rockdale County—The Certificate of Achievement for Excellence in Financial Reporting has been awarded to Rockdale County’s Department of Finance for the second consecutive year. The Government Finance Officers Association of the United States and Canada (GFOA) announced Rockdale County as an award recipient for its comprehensive annual financial report (CAFR) for fiscal year ending December 31, 2009.
“This is a great accomplishment for Rockdale County,” Rockdale County Chairman and CEO, Richard A. Oden stated. “The outstanding level of expertise our Department of Finance possesses, solidifies our strength as a county to wisely manage taxpayers dollars with integrity, sound business acumen and conservative values.”
This is only the second time in the County’s 147 year history to receive this prestigious award.
Rockdale's financial audit, completed in September 2010, concluded that “Rockdale County was one of the strongest counties with respect to its financial position, of any county in the metro area. This is testimony to the good financial stewardship the county provides.”
The bond rating for Rockdale County also positively increased in November 2010, to a Aa2 rating on 13 million dollars in General Obligation Sales Tax Bonds. The Aa2 rating reflects the county's role as a regional economic and employment center, and sound financial position supported by ample fund balance levels and low direct debt burden.
Rockdale County maintains Aa2 and Aa3 ratings from Moody’s national rating agency for its general obligation bonds, revenue bonds and certificates of participation.
In a recent letter from Stephen J. Gauthier, Director of GFOA to Chairman Oden, he states, “we hope that your (Rockdale County) example will encourage other government officials in their efforts to achieve and maintain an appropriate standard of excellence in financial reporting.”
The CAFR has been judged by an impartial panel to meet the high standards of the program including demonstrating a constructive “spirit of full disclosure” to clearly communicate its financial prospectus.
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.