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County Earns Recognition for Excellence in Financial Reporting

Recognized Among North American Governments

Towson, Maryland (June 19, 2014) – Baltimore County received the highest national recognition for excellence in financial reporting as demonstrated in its Comprehensive Annual Financial Report (PDF) for the fiscal year ending June 30, 2013. The County was honored by the Government Finance Officers Association of North America (GFOA) with an Award of Financial Reporting Achievement.

This achievement awards program is considered to be the highest form of recognition in governmental accounting and financial reporting. The County's annual financial report was judged by a panel of impartial government finance experts who concluded that the report meets the highest professional standards and demonstrates "a constructive spirit of full disclosure to clearly communicate its financial story and motivate users and user groups to read the CAFR."

"Our team of budget and finance professionals are absolutely the best," said County Executive Kevin Kamenetz. "Their expertise and diligence is second to none and a significant factor in our ability to maintain the triple-AAA bond rating that enables us to upgrade our schools, enhance County services and maintain our infrastructure – all while keeping tax rates stable."

The awards program was established in 1945 by the GFOA to encourage and assist state and local governments to go beyond the minimum requirements of generally accepted accounting principles to prepare comprehensive annual financial reports that demonstrate the spirit of transparency and full disclosure.

The GFOA is a nonprofit professional association that serves approximately 17,500 government finance professionals in the United States and Canada.