CAFR - sdcera

I N T R O D U C T I O N / L E T T E R O F T R A N S M I T T A L
CERTIFICATE OF ACHIEVEMENT
The Government Finance Officers Association of the United States and Canada (GFOA)
awarded a Certificate of Achievement for Excellence in Financial Reporting to the San Diego
County Employees Retirement Association for its Comprehensive Annual Financial Report
(CAFR) for the fiscal year ended June 30, 2006. The Certificate of Achievement is a prestigious
national award, recognizing conformance with the highest standards for preparation of state
and local government financial reports.
To be awarded a Certificate of Achievement, a governmental unit must publish an easily
readable and efficiently organized CAFR, and the contents must conform to program
standards. The CAFR must satisfy both accounting principles generally accepted in the United
States and applicable legal requirements.
A Certificate of Achievement is valid for a period of one year only. We believe this current
report continues to conform to the Certificate of Achievement program requirements, and we
will submit it to GFOA.
PUBLIC PENSION STANDARDS AWARD
Public Pension Coordinating Council (PPCC) granted its 2007 achievement award to San Diego
County Employees Retirement Association. This award is in recognition of meeting professional
standards for plan design and administration as set forth in the Public Pension Standards.
ACCOUNTING PRINCIPLES AND INTERNAL CONTROLS
This CAFR was prepared to conform to the principles of governmental accounting and reporting
set forth by the Governmental Accounting Standards Board (GASB). Transactions of the
Association are reported on the accrual basis of accounting.
Sufficient internal accounting controls exist to provide reasonable assurance regarding the
safekeeping of assets and fair presentation of the financial statements and supporting schedules.
ACKNOWLEDGEMENTS
The compilation of this report could not have been accomplished without the dedication and
cooperation of many people. It is intended to provide complete and reliable information that
can be used as a basis for making management decisions, determining compliance with legal
provisions and demonstrating responsible stewardship of system funds.
I would like to express my appreciation for the assistance from staff whose combined efforts
have produced a report that will enable the Board of Retirement, SDCERA members and the
County to better evaluate and understand the Association’s financial condition and funding
status. I also want to express my thanks to the Board and the retirement staff for their
dedication and commitment to SDCERA, a combination that assures the Association’s
continued successful operation.
Copies of this report are available at:
SDCERA, 2275 Rio Bonito Way, Suite 200, San Diego, California 92108-1685
Brian P. White, Chief Executive Officer
November 30, 2007
6 COMPREHENSIVE ANNUAL FINANCIAL REPORT 2007