DAYTON — Montgomery County’s excellent financial record keeping and fiscal responsibility received praise from statewide and national financial entities in 2017, earning awards and recognition for its strong financial management.
Montgomery County Auditor Karl Keith and his staff were recognized by the Ohio Auditor of State with the Auditor of State Award with Distinction. The award is presented to local governments upon completion of an annual financial audit performed by the Auditor of State’s Office. Montgomery County submitted a clean audit report for 2017, which means its annual financial report had no questioned costs, no financial concerns and met a number of other criteria.
Additionally, Montgomery County received the Government Finance Officers Association (GFOA) Certificate of Achievement for Excellence in Financial Reporting. The award recognizes local governments that go beyond the minimum requirements of accepted accounting principles in their reporting practices. Montgomery County has received this award the past 31 years.
“My staff and I take pride in serving the public in the most open and transparent ways possible,” Keith said. “These awards are thanks to the hard work and attention to detail on behalf of my accounting staff.”
The county performed well on the financial health indicator assessment conducted by the Auditor of State’s Office. Montgomery County was rated as having a positive outlook for 16 of the 17 financial health indicators, a result only achieved by 7 other counties in the state. The indicators test to identify any financial stress in local governing entities. Montgomery County’s strong performance on the tests reaffirms the stability of the county’s finances.
“This recognition reflects strong financial management throughout all of Montgomery County government, and we will continue to hold our operations to a high level of accountability and transparency,” said Keith.
Moody’s Investors Service has also given the county a bond rating of Aa1. Bond ratings reflect the financial stability of an organization. According to Moody’s rating scale, organizations that receive Aa1 ratings “are judged to be of high quality and are subject to very low credit risk.”
Keith is dedicated to using technological innovations to make government information more easily available to taxpayers. In 2016, the Auditor’s Office put Montgomery County’s fiscal records online at www.montgomerycounty.ohiocheckbook.com.