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Algonquin, District 26 recognized for financial reporting

Published: Monday, April 7, 2014 6:31 p.m. CDT • Updated: Tuesday, April 8, 2014 11:01 a.m. CDT

Two local taxing bodies have received Certificates of Achievement for Excellence in Financial Reporting, according to news releases.

For the 10th year in a row, Algonquin has been awarded the certificate.

Algonquin is one of 140 municipalities in the state to receive the recognition, the news release said.

Cary District 26 received the award for the second straight year.

"This award is confirmation of the commitment and dedication the administration and finance staff demonstrate on a daily basis ensuring the district's financial statements and records are accurate and comprehensive," District 26 board member Scott Coffey said in a news release.

The award is given by the Government Finance Officers Association of the United States and Canada (GFOA) and is based on the taxing body's comprehensive annual financial report (CAFR). 

The certificate of achievement is the highest form of recognition in the area of governmental accounting and financial reporting.

The reports were judged by an impartial panel, which looked for a constructive “spirit of full disclosure” to clearly communicate the municipality or district's financial story and motivate people to read the CAFR, according to a news release.

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