In late 2013, Worthington Libraries was recognized with a Certificate of Achievement for Excellence in Financial Reporting from the Government Finance Officers Association (GFOA) for our 2012 Comprehensive Annual Financial Report (CAFR). The Library also received an Auditor of State Award with Distinction from the office of Dave Yost, State Auditor of Ohio.
Senior Finance Specialist Sabra Lowe, Finance Specialist Barbara Burkholder and Business Manager Margaret Doone with State Auditor of Ohio Dave Yost
Less than 10 percent of government entities in the United States, and only five library systems in Ohio, prepare an annual CAFR. It is prepared using generally accepted accounting principles for governments and contains financial statements and other financial and statistical data that provide complete and full disclosure of all material financial aspects of Worthington Libraries. The complete CAFR document is available for public review online.
The GFOA is a national organization that presents the Certificate of Achievement for Excellence in Financial Reporting award after the CAFR has been reviewed by three financial professionals from various parts of the country. It is awarded to government units (cities, counties, libraries, etc.) whose CAFR achieves the highest standards in government accounting and financial reporting. Less than five percent of government agencies nationally receive the GFOA award.
The Auditor of State Award with Distinction given to entities that file an annual CAFR and timely financial reports in accordance with generally accepted accounting principles, as well as receive a "clean" audit report is also presented to very few public entities in the State of Ohio.
State Auditor Yost said, "Good finance is important to everything government does, and taxpayers expect this kind of accountability. Sound budgetary decisions by the board depend on clean and accurate books, and I am pleased to present this award to The Worthington Libraries."