We're proud to announce that the Barrington Area Library has received the Government Finance Officers Association Certificate of Achievement for Excellence in Financial Reporting.
During the fiscal year 2024 audit process, the Library made the transition from an Annual Financial Report to an Annual Comprehensive Financial Report (ACFR). This report not only shows our financial information but also statistics and meaningful comparisons, Library background, and other important details. Completing the ACFR makes an organization eligible for the Government Finance Officers Association Certificate of Achievement for Excellence in Financial Reporting.
Due to the hard work of our Finance Manager, Lauren Rosenthal, and contributions from other key staff members, we have received this prestigious award, only the third library in the state to be recognized in this manner. Lauren (center) is pictured here with Executive Director Jason Pinshower (right) and Deputy Director Jason Katsion (left).
The Government Finance Officers Association (GFOA) advances excellence in government finance by providing best practices, professional development, resources and practice research for more than 21,000 members and the communities they serve. The GFOA established the Certificate of Achievement for Excellence in Financial Reporting Program in 1945 to encourage and assist state and local governments to go beyond the minimum requirements of generally accepted accounting principles to prepare annual comprehensive financial reports that evidence the spirit of transparency and full disclosure. While many larger government agencies like school districts, villages, and park districts achieve this award each year, libraries often do not due to the time and effort required to switch to modified accrual accounting and compile the in-depth financial information required.
Want to read this award-winning document for yourself? You'll find it online on our Library Board of Trustees page: Fiscal Year 2023-2024 Audit