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I <br />OR AN G E C O U N T Y <br />BOARD OF COMMISSIONERS <br />ACTION AGENDA ITEM ABSTRACT <br />Meeting Date: OCTOBER 1, 1990 <br />Action Agenda <br />Item # 9-13 <br />SUBJECT: PRESENTATION -- CERTIFICATE OF ACHIEVEMENT FOR EXCELLENCE IN <br />FINANCIAL REPORTING <br />DEPARTMENT: COUNTY MANAGER PUBLIC HEARING: Yes _X—No <br />ATTACHMENT(S): INFORMATION CONTACT: <br />MANAGER'S OFFICE, EXTENSION 2300 <br />PLAQUE AND CERTIFICATE <br />(To be presented) TELEPHONE NUMBERS: <br />Hillsborough - 732 -8181 <br />Durham - 688 -7331 <br />Mebane - 227 -2031 <br />Chapel Hill - 967 - 9251/968 -4501 <br />PURPOSE: To acknowledge receipt of this Certificate of <br />Achievement and recognize the individuals responsible <br />for its having been earned. <br />BACKGROUND: The Certificate of Achievement recognizes excellence <br />in governmental financial reporting. The Certificate <br />of Achievement is generally acknowledged as the <br />highest form of recognition in the area of govern- <br />mental accounting and financial reporting and its <br />attainment represents a significant accomplishment by <br />an entity and its management. The benefits of <br />obtaining the Certificate are: <br />1. Comparability: Reports qualifying for Certificates <br />employ standardized terminology and formatting <br />conventions, and facilitate comparisons from one <br />year to the next and among different entities. <br />2. Completeness: The financial statements, supporting <br />schedules, statistical tables, and narrative expla- <br />nations required for a certificate help to assure <br />that all fiscal data are presented to provide full <br />disclosure of financial conditions. <br />3. Clarity: The report is to be free of ambiguities <br />and misleading inferences. <br />4. Bond Marketing Aid: Reports qualifying for a <br />Certificate of Achievement provide a detailed <br />