Controller’s Comprehensive Annual Financial Report continues 16-year winning streak FY 2014-15 CAFR honored for excellence in financial reporting

South San Francisco, CA    April 13, 2016  Press Release SMC Controller Office SMC logo

The San Mateo County Controller’s Office is no different than the Golden State Warriors when it comes to maintaining winning streaks.

For the 16th consecutive year, the FY 2014-15 Comprehensive Annual Financial Report (CAFR) prepared by the County Controller’s Office earned a Certificate of Achievement for Excellence in Financial Reporting from the Government Finance Officers Association (GFOA). Receiving this award is the highest recognition in governmental accounting and financial reporting.

The CAFR contains information on the County’s assets, liabilities, revenues, and expenditures in conformity with financial reporting standards pursuant to the Government Accounting Standards Board (GASB). The GASB establishes accounting and reporting rules for governments to provide clear, consistent, and transparent financial information.

The FY 2014-15 CAFR includes financial, economic, and demographic trends. The County’s government-wide revenues totaled $1.61 billion and expenditures totaled $1.25 billion.

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“The County is committed to providing taxpayers with an accurate and transparent look at its financial activities. The GFOA award shows that the County and my office are meeting this goal. I’m proud of this year’s honor and of our ongoing outstanding performance,” Controller Juan Raigoza said.

The CAFR is used by organizations to assess the County’s financial health and performance. Once again, credit rating agencies recently gave the County a rare AAA/Aaa bond rating.

The CAFR is available here or at https://controller.smcgov.org/2015CAFR
The information contained in the CAFR is also distilled in a condensed version known as the Popular

Annual Financial Report and is available here or at https://controller.smcgov.org/2015PAFR

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