HomeMy WebLinkAbout2020 02 10 Informational 201 - Certificate of Achievement for Excellence in Financial Reporting • INFORMATIONAL AGENDA ITEM 201
no ora=a CITY COMMISSION AGENDA I FEBPUAPY10, 2020
1959
REGULAR MEETING
TITLE
Certificate of Achievement for Excellence in Financial Reporting
SUMMARY
The Finance Department and the City Manager are pleased to announce that the
City of Winter Springs has received the Certificate of Achievement for Excellence in
Financial Reporting for the 2018 fiscal year.
In May2019,the Citysubmitted the Comprehensive Annual Financial Peportforthe
fiscal year 2017-2018 to the Government Finance Officer's Association to be
considered for the Certificate of Excellence in Financial Reporting award. Each
CAFR is reviewed using a checklist designed to determine compliance with both
generally accepted accounting principles (GAAP) and program policy as
established by the GFOA's Special Review Executive Committee and the GFOA
Executive Board. Reviews are performed byGFOAstaffand membersoftheGFOA's
Special Review Committee, which comprises individuals from government, the
public accounting profession, and academe who possess specialized expertise in
governmental financial reporting, typically as a result of either preparing or
auditing a CAFR that has received the Certificate of Achievement. A certificate is
awarded only if there is consensus among reviewers that a CAFR substantially
complies with both GAAP and program policy. It is an honor to convey that Staff
was recently notified that the City has been awarded the Certificate of
Achievement for Excellence in Financial Reporting award for the 19th consecutive
year.The 2018 CAFR as submitted to GFOA is available on the City's website.
https://w-ww.winterspringsfl.org/sites/default/files/f ileattachments/finance_amp_a
dministrative_services/page/S431/2018_city_of winter_springs_cafr.pdf
When the 2019 audit and CAFR have been completed the CAFR will be again be
submitted for the Certificate of Achievement for Excellence in Financial Reporting
and we anticipate continued conformity to the rigorous program requirements.
RECOMMENDATION
Staff recommends the City Commission receive and review the information
provided.
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GOVERNMENT FINANCE OFFICERS ASSOCIATION
NEWS RELEASE
FOR IMMEDIATE RELEASE
01/03/2020 For more information contact:
Michele Mark Levine, Director/TSC
Phone: (312)977-9700
Fax: (312)977-4806
E-mail: mlevine@gfoa.org
(Chicago, Illinois)--The Certificate of Achievement for Excellence in Financial Reporting has been awarded
to City of Winter Springs by Government Finance Officers Association of the United States and Canada
(GFOA) for its comprehensive annual financial report (CAFR). 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 a government and its management.
An Award of Financial Reporting Achievement has been awarded to the individual(s) or department
designated by the government as primarily responsible for preparing the award-winning CAFR.
The CAFR has been judged by an impartial panel to meet the high standards of the program,which includes
demonstrating a constructive "spirit of full disclosure" to clearly communicate its financial story and
motivate potential users and user groups to read the CAFR.
Government Finance Officers Association (GFOA) advances excellence in government finance by providing
best practices, professional development, resources and practical research for more than 20,500 members
and the communities they serve.
203 NORTH LASALLE STREET, SUITE 2700, CHICAGO, ILLINOIS 60601-1210
Government Finance Officers Association
Certificate of
Achievement
for Excellence
in Financial
Reporting
Presented to
City of Winter Springs
Florida
For its Comprehensive Annual
Financial Report
for the Fiscal Year Ended
September 30, 2018
CL&P4.1. P. f
Executive Director/CEO