FROM: Debby Cherney, Chief Executive Officer
SUBJECT: Awards for Excellence in Financial Reporting: Government Finance Officers Association of the United States and Canada
RECOMMENDATION:
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Recognize achievement of the Fiscal Services team for receiving the following GFOA Awards:
a. Certificate of Achievement for Excellence in Financial Reporting for the Comprehensive Annual Financial Report; and
b. Award for Outstanding Achievement in Popular Annual Financial Reporting for the Popular Annual Financial Report.
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BACKGROUND:
Since 1945, the GFOA has used its Certificate of Achievement for Excellence in Financial Reporting Program to encourage state and local governments to prepare comprehensive annual financial reports using generally accepted accounting principles. The program encourages participating governments to provide financial information that is intended to be accessible and understandable to the public. Also, as accounting and financial reporting standards evolve, the program encourages participants to fully implement these updated standards in their financial reports. SBCERA was recognized with the Award for the 23rd year in a row for its Comprehensive Annual Financial Report (CAFR) for the Fiscal Year ended June 30, 2019.
In addition, GFOA recognized SBCERA for its Popular Annual Financial Report (PAFR) for the Fiscal Year ended June 30, 2019. The PAFR is a clear and understandable summary of financial information that is generally more accessible to people who may be challenged to understand traditional financial reports.
BUDGET IMPACT:
None.
STRATEGIC PLANNING GOAL/OBJECTIVE:
Effective Communications
STAFF CONTACT:
Debby Cherney
Amy McInerny
ATTACHMENTS:
None.