The professional association that represents more than 21,000 public finance officers across North America has awarded Scotts Valley its highest honor.
On September 21, the Government Finance Officers Association of the United States and Canada (GFOA) announced that it had awarded the Certificate of Excellence for Excellence in Financial Reporting to the City.
âThis year, Scotts Valley was recognized for exceeding the minimum requirements of generally accepted accounting principles, preparing its comprehensive annual financial report which demonstrates the spirit of transparency and full disclosure,â said Brian Haddix, City Manager of interim. âIt’s a big deal when our external peers assess our financial practices and determine that we deserve the Certificate of Achievement in Financial Reporting from the GFOA. “
The honor was bestowed on the basis of Scotts Valley’s âComprehensive Annual Financial Reportâ for fiscal year 2019-2020, the year that led to the pandemic.
The period considered by the evaluators ended on June 30, 2020.
“The report was judged by an impartial panel to meet the high standards of the program, which includes demonstrating a ‘constructive spirit of full disclosure’,” according to a press release.
The GFOA strives to promote “excellence in public finance by providing best practices, professional development, resources and practical research” to its members and the communities they serve, a spokesperson for GFOA wrote. the organization.
âThe GFOA is made up of people involved in the financial management of government whose members span across the United States and Canada,â Haddix explained. “Among its many activities, it recognizes the exceptional financial practices of local, state and provincial governments.”
Scotts Valley achieved the designation, in part because of the staff’s ability “to clearly communicate its financial history and to motivate potential users and user groups to read the report,” said the GFOA.
The Certificate of Achievement is the highest form of recognition in government accounting and financial reporting.
âIts achievement represents a significant achievement of a government and its leadership,â a spokesperson for the organization said in the statement.