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September 25, 2012 > Excellence in financial reporting

Excellence in financial reporting

City has received award for 22 years consecutively

Submitted By Rhea Serran

The City of Union City has received the Government Finance Officers Association (GFOA) Certificate of Achievement for Excellence in Financial Reporting for the comprehensive annual financial report (CAFR). This is the 22nd consecutive time that the City has been recognized.

The Certificate of Achievement is the highest form of recognition in the area of governmental accounting and financial reporting and its attainment represents a significant accomplishment by the City and its management. Administrative Services Director Richard Digre also recognized Supervising Accountant Gayle Okada for her hard work and dedication for preparing the award-winning CAFR for the last 22 years.

The GFOA established the Certificate of Achievement for Excellence in Financial Reporting Program (CAFR Program) in 1945 to encourage and assist state and local governments to go beyond the minimum requirements of generally accepted accounting principles to prepare comprehensive annual financial reports that evidence the spirit of transparency and full disclosure and then to recognize an individual in achieving that goal.

Reports submitted to the CAFR program are reviewed by selected members of the GFOA professional staff and the GFOA Special Review Committee (SRC) which comprises individuals with expertise in public-sector financial reporting and includes financial statement preparers, independent auditors, academics and other finance professionals.

The receipt of this award is testament to the long hours and hard work by City staff to produce a high quality CAFR. The CAFR documents all of the City's financial transactions and is submitted to the State Controller for review.

To view the City of Union City's 2011 CAFR, visit www.ci.union-city.ca.us/admin/cafr.htm

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