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The Government Finance Officers Association recognized Larimer County’s excellence in financial reporting, and its strong financial position was commented on by Moody’s Investors Service.
Larimer County received a Certificate for Excellence in Financial Reporting for its comprehensive 2020 annual financial report prepared by the Larimer County Department of Finance. Due to COVID-19 limitations, finance workers prepared the report while working remotely while also implementing an enhanced financial system.
The report was submitted to the Government Finance Officers Association and underwent an in-depth evaluation to receive the certificate. The certificate goes to entities that apply transparency and full disclosure in financial reporting. Only 14% of US counties typically receive the certificate for their reports. “2020 tested the strength and skill of the finance department,” said Chief Financial Officer Carol Block. “It makes this certificate very meaningful.”
Moody’s Investors Service also completed an Issuer Comment on Larimer County’s finances. According to Moody’s, “Larimer County has an extraordinarily strong credit position. The AAA rating exceeds the AA2 average rating for US counties. Notable credit factors include a very healthy financial position, negligible debt, pension liabilities, an extensive tax base and a strong wealth and income profile. “
“Moody’s triple-A rating is really something to celebrate. It shows that we are good financial stewards of tax money and gives credit to our finance team and budgeting team, ”said Kristin Stephens, Larimer County Commissioner.
Preparing a well-designed annual financial report is one way to demonstrate financial stewardship, and Moody’s comments and reviews help Larimer County borrow money at reasonable rates.
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