July 1, 2011

    REDWOOD CITY, Calif. – Controller Tom Huening provides details of the
    financial health of San Mateo County in a report released today.
    The 10-page Popular Annual Financial Report (PAFR) summarizes the essential
    information contained in the County’s lengthy Comprehensive Annual Financial
    Report, which was released earlier this month. The PAFR examines the fiscal year
    that ended June 30, 2011, and provides a look to the future as the County seeks to
    maintain services in the face of a weak economy and funding reductions from the
    State and federal governments.

    The PAFR, titled Financial Highlights, provides the following key information for
    San Mateo County’s government:

    • Financial Summary
    • Economic Indicators
    • Economic Outlook
    • Financial Policies and Planning
    • Major Initiatives

    The Government Finance Officers Association of the United States and Canada
    (GFOA) has given an Award for Outstanding Achievement in Popular Annual
    Financial Reporting to San Mateo County for its Popular Annual Financial Report for
    the fiscal year ended June 30, 2010. The Award for Outstanding Achievement in
    Popular Annual Financial Reporting is a prestigious national award recognizing
    conformance with the highest standards for preparation of state and local government
    popular reports.

    The PAFR can be accessed online at the County Controller’s web page located here.

    Media Contact
    Assistant Controller Bob Adler

    (650) 363-4891