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County of Lexington Awarded Certificate Of Achievement For Excellence In Financial Reporting

Wed, 10/14/2020

The County of Lexington’s Financial Department has been awarded the Certificate of Achievement for Excellence in Financial Reporting by the Government Finance Officers Association of the United States and Canada (GFOA) for its comprehensive annual financial report (CAFR). The award is the highest form of recognition in the area of governmental accounting and financial reporting, and its attainment represents a significant accomplishment by a government and its management.

“We strive to be as fiscally responsible with taxpayer dollars each and every fiscal year,” Lexington County Council Chairman Scott Whetstone said. “I believe that continuing to receive this award is a testament to how forward-thinking this organization is when it comes to our residents’ money. Our Financial Department and Administration continue to be exemplary stewards of our residents’ money.”

Among the financial achievements the County has obtained this year is that it has received its best-ever bond rating after an in-depth analysis of the County’s financial health. Moody’s Investor Service awarded the County a AAA-bond rating, which is their highest global long-term rating. This means the County has strong financial fundamentals, is financially predictable and has a strong operating environment.

“This feat could not have been accomplished without the leadership of our Council as well as the resourcefulness of our employees,” County of Lexington Administrator Joe Mergo said. “The high-quality public service mindset and culture that Council has cultivated is engrained in every employee in the County.”

In the spirit of full disclosure, the full CAFR is available on the County’s website, as it has been in the past: https://lex-co.sc.gov/departments/finance.

The County’s CAFR was judged by an impartial panel to meet the high standards of the program, including demonstrating a constructive “spirit of full disclosure” to clearly communicate the County’s financial story and to motivate potential users and user groups to read the CAFR.