July 30, 2010

SBCERA EARNS DISTINCTION

SBCERA earns 13th consecutive Certificate of Achievement for Excellence in Financial Reporting

The San Bernardino County Employees’ Retirement Association (SBCERA) received its latest Certificate of Achievement for Excellence in Financial Reporting from the Government Finance Officers Association (GFOA) for its 2008-2009 “Service at its Best” Comprehensive Annual Financial Report (CAFR).

The Certificate of Achievement is awarded by the GFOA to those governmental entities who produce the highest quality financial reports that uphold and comply with all governmental accounting standards. More than 3,500 governments participate in the program each year. SBCERA has been awarded the Certificate of Achievement every year since 1997.

Each year, SBCERA looks for ways to further improve the CAFR to meet and exceed all industry standards. The CAFR provides a detailed summary of all SBCERA financial activities for the fiscal year in an easy to read format for its Members and Plan Sponsors. Prior to creating the report, a comprehensive financial audit is conducted on SBCERA’s financial statements to check for accuracy and to ensure conformity with all generally accepted accounting standards. The next CAFR will be released in early 2011.